were you able to find what bank (s) it is in, I looked for that a while back and couldn't see
Printable View
were you able to find what bank (s) it is in, I looked for that a while back and couldn't see
So currency gains could be significant as well
They were, as per the latest report.
I wonder if we are getting close to a good time to convert back to Kiwi dollars, for example with respect to the US dollar holdings. Most of the big currency gains have probably been made now and the longer term future for the US dollar isn't exactly rosy. Why on earth it is regarded as a 'safe haven' currency when the US is the root of most of the problems the world is now facing is beyond me. A bubble waiting to pop?
Since the Dec update, in which they recognised 17m of currency gains, we have had another 9 cent depreciation in the NZD/USD.Quote:
At 31 December 2008, NZOG’s total cash on handZealand domiciled banks.
was NZ$211.9m, with just over two thirds of these
funds held in US denomination accounts with New
Assuming they haven't converted it back to NZD already, they could be sitting on another NZD 30/35mill of gains.
Nothing out there suggests to me that the trend has changed. I still look for a 100% retracement of the last major rally, back to US0.40ish
Blockhead, yes thats probably right - if they acquire something in USD, then the 'gain' would not be recognised I should imagine, but maybe some accounting guru's could provide some guidance on accounting treatment
Leasing and exploration cost are in $USD. Since nzo will be needing usd later this year it would seem pointless in converting as they will have to reconvert it back at a later date.