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MINERAL sands miner Iluka reported exploration success yesterday at its $400 million Eucla Basin mineral sands project in South Australia, but concerns about the high Australian dollar are weighing on sentiment.

Also yesterday, UBS hiked its forecast for the Australian dollar - causing it to slash its 2008 earnings forecast for Iluka.
The rampant domestic currency is now starting to weigh on the outlooks for companies with offshore earnings exposure.

http://www.theaustralian.news.com.au/story/0,20867,22024980-5005200,00.html

[QUOTE="Uncle Festivus, post: 178049, member: 6653"] [B]MINERAL sands miner Iluka reported exploration success yesterday at its $400 million Eucla Basin mineral sands project in South Australia, but concerns about the high Australian dollar are weighing on sentiment.[/B] Also yesterday, UBS hiked its forecast for the Australian dollar - causing it to slash its 2008 earnings forecast for Iluka. The rampant domestic currency is now starting to weigh on the outlooks for companies with offshore earnings exposure. [URL]http://www.theaustralian.news.com.au/story/0,20867,22024980-5005200,00.html[/URL] [/QUOTE]

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