Cu down to $1.60 today. Perhaps the 1.20 target isn't so far fetched? OZL will definitely have to cut its losses at century if Cu falls that far - otherwise its 300m net cash will be gone before Cu rebounds starting 2010.
I can see OZL falling significantly if it doesn't come up with some material Zn/lb savings or cut production/close Century. I've cut 50% of my holdings pending the Century/Co review.
OZL Price at posting:
$9.85 Sentiment: LT Buy Disclosure: Held
