Day bbloff, It is my contention that this situation, that of OZL at the moment would never have happened under OH, whilst he seemed to dislike hedging he would have noticed and covered the falling price of copper and zinc with a derivative of some sort, he did it at least once before when the banks wanted him to hedge he guaranteed the price the company was to receive for their product with some sort of call or was it a put, I have no idea as I do not understand how they work but it satisfied the banks and in this case would have guaranteed a high continuing income to OZ, he would have then slowed down expenditures if necessary and would have made sure that PH came in on time which was supposed to happen in Oct/Nov last year, OH may have missed a deadline but I for one cannot remember when since the nine cent days. A lot of people forget that OH took the OX from zero to a six billion dollar co, even the merger may not have been a blue all though we would in hindsite have been better off without it, had OH not stood down or been pushed, another which I for one will never know. What I do know now is that the difference between OH and Makeuspoor in managerial intelligence could only be measured in light years with my shoes off.
falko
OZL Price at posting:
80.0¢ Sentiment: None Disclosure: Not Held
