broker from ig gave target $2.25 today, page-36

Phrb, not being able to negotiate m&a that was mutually beneficial has resulted in excessive value destruction at OZL. How do they compare to peers?

Having one operation is a significant business risk.

Put m&a to one side, if they really just wanted cash pile to get through this period then why
a. Capital return?
b. Sandfire stake?
c. Tunnel boring machine that is parked up?

OZL board obviously thought they didn't need all that capital.