Ann: 2013 half year report announcement and prese, page-16

re: Ann: 2013 half year report announcement a... Really this is a company with an incompetent board. I have watched this company reduce its cash position from almost $3B, to $400m in a couple of years If you paid someone to break a company, they could not have done a better job than this bunch.. At the end of the day OZL has $230m less than they had 6 months ago. $800m less than they had 12 months ago and $2b less than they had 3 years ago. Cant argue with that.

They can play with the numbers and the smoke and mirrors but this is a $0:20c stock right at the moment. stripping ratio ore to waste is going to be up around 12 tonnes of waste to 1 tonne of ore. This is disastrous. OZL couldn't even bid for SFR and no-one would touch the stock in a script bid. If they went for a cash deal OZL would need $1,5B and SFR only has about three years to run and its all over for them as well. By the time SFR pays off its $300m debt the mine and the ore will be depleted. From what I can see is that OZL has nowhere to go. As for the SP, its all over folks.

Maybe M&G can support it for a while but even they wont have enough money to keep it over a $1.00. M&G have spent over $650m acquiring their interest in OZL and at the moment is worth around $200m . Then they realise they have a "PUP" I think they will dump like they have done with MMI. Things are not good in the mining industry at the moment. I bet that the Board wish they didn't give back the $2B to shareholders in their "return of Capital to shareholders". As for the Special Dividend" I think that was trying to keep some of their larger insto's happy. When the departure starts it will be a big dump. Cant give you a $ value but reckon has to be under $1.00 by 1st October. Will put money on it. OZL could not take over any company with the cash they have now and at the rate of burning cash will be lucky to survive themselves. As for a paper bid, who would want their stock?? Do your own research