bbloff - minmetals won't be hitting on the same banks that ozl has to contend with.
they can probably turn to a friendly chinese govt controlled consortium of banks - this financing arrangement may have already been guaranteed to them.
the share price is bewildering - i get the feeling that a lot of the old oxr crew have at last re-discovered the joys of day trading with a modicum of confidence. and i joined in today for some tidy little gains. i expect an announcement regarding sales of martabe and gg (and perhaps avebury) early next week. if they achieve >$425m for martabe and gg then there should be upward pressure on the share price.
but it is extraordinary that a stock should trade so far below a takeover bid price. even taking into account firb uncertainty.
OZL Price at posting:
$6.30 Sentiment: Hold Disclosure: Held