do you think todays announcement will, page-5

Hi Nova & Mx,

Thanks for the kind words. Excuse the slow reply, I'm tied up at work through the day and don't get much of a chance to check in on HC, sorry.

I run an equipment import company and most nights (like tonight) are spent working late speaking with overseas suppliers and keeping tabs on currency markets (don't talk to me about the AU$ at the moment!). These late nights also give me a chance to catch up on what's going on with my investments and a bit of the chat here on HC, which by and large I enjoy.

Last night's missive stemmed from a bit of growing frustration at some (and it is only some) of what I considered to be fairly unfounded posts over the past couple of months about the direction and management of the company. I guess I was pleased to finally get an announcement from AM confirming my beliefs that things were still on track with the company.

Sure it would be nice to get such affirmations more regularly from management, like we did with The OX back in OH's day, but the merger is done and management's style is different now. What's not different is the projects that the company owns, and the inherent value that they offer to shareholders, and that was the point of my post.

Many will argue that the merger has wiped significant value off the holdings of former OXR and ZFX holders - and on paper it undeniably has - but my contention is that the underlying intrinsic value is still there for holders, and will return in terms of the trading share price in time.

I would further contend that anyone who thinks that OXR would still be trading at ~$3.00 and that ZFX would still be trading at ~$9.00 in the current market if the merger did not go ahead, then they would be wrong. And, yes, I accept that ZFX would probably be trading comparatively lower than OXR if they were still both standing alone in the current market.

But only 14 short months ago ZFX was trading at $20.00+ when OXR was at $3.50, and I believe that the ZFX assets will again add a similar disproportionate weighting to the OZL share price compared to the OXR assets, at some point in the not too distant future when zinc returns to favour. It will come around again as these things are cyclical: the currently uneconomical zinc mines have closed shrinking supply whilst LME stockpiles are still relatively low, and when BRIC get back to buying the zinc they need to keep growing their burgeoning economies, the zinc price will head north again. When it does, OZL holders will be very glad that we have the ZFX assets and the merger will be viewed in a very different light.

So, whilst it really hurts to see the share price where it currently is, I believe it is an irrationally low price that offers an opportunity for those with the money and time to invest in a quality company before it moves back up to a more rational price and beyond. Whilst having Avebury now producung is nice, I believe Prominent Hill coming on line later this year will provide the catalyst that will bring the market back to more rational thoughts about this stock, because our commodity mix will be more acceptable to those who can't see past the out of favour zinc assets at the moment.

Anyway, that's enough ramblings from me, thanks again for the kind words, and I look forward to following the progress of OZL on the market and the discussion here on HC.

Regards, GJC.