Monday April 20, 2015: It was riddled with motherhood statements, but the "new strategy" announced today by OZ Minerals does declare that the miner is going to expand its asset hunt beyond copper.
OZ said it had "expanded its search criteria into other base metals and gold where core capabilities are easily transferable".
But the obvious question arising from the rest of OZ's grand plan surely relates to whether the "new" policies are standard for any public company.
In a series of management clichés which will undoubtedly leave shareholders underwhelmed, OZ said that as a result of its three-month review, it had decided to be a "lean business with reduced costs and value-driven performance from the key operation in Prominent Hill".
And oh, don't forget being "underpinned by world-class safety performance".
There will also be a "new flatter corporate team focused on strategy delivery ... accountable leaders operating the assets ... (and) a rigorous focus on building a customer-centric company".
Of interest, perhaps, was its commitment to a "new dividend policy targeting a minimum shareholder return of 20 per cent of net cash generation not required for investing or balance sheet activity".
Sound like 20 per cent of three-fifths of ...?
The strategy statement is the culmination of the three-month review initiated by new MD Andrew Cole.
The "key takeaway", as Cole's management textbook might say, is either OZ was in a seriously bad way before the review, or nothing has changed.
It must be one of the two.
OZ said it had "expanded its search criteria into other base metals and gold where core capabilities are easily transferable".
But the obvious question arising from the rest of OZ's grand plan surely relates to whether the "new" policies are standard for any public company.
In a series of management clichés which will undoubtedly leave shareholders underwhelmed, OZ said that as a result of its three-month review, it had decided to be a "lean business with reduced costs and value-driven performance from the key operation in Prominent Hill".
And oh, don't forget being "underpinned by world-class safety performance".
There will also be a "new flatter corporate team focused on strategy delivery ... accountable leaders operating the assets ... (and) a rigorous focus on building a customer-centric company".
Of interest, perhaps, was its commitment to a "new dividend policy targeting a minimum shareholder return of 20 per cent of net cash generation not required for investing or balance sheet activity".
Sound like 20 per cent of three-fifths of ...?
The strategy statement is the culmination of the three-month review initiated by new MD Andrew Cole.
The "key takeaway", as Cole's management textbook might say, is either OZ was in a seriously bad way before the review, or nothing has changed.
It must be one of the two.