oz minerals in no hurry to spend money, page-21

Some feedback I got from Grahod (who worked at P Hill on the Processing Plant) is that contacts he has there were suggesting a resource upgrade in about 12 months. Extending the mine life of P Hill is very important as a 10 year mine life with an investment of $1.3B will mean high depreciation costs, whereas a mine extension will translate into full utilisation of the capex employed.

jd and nursery,
The issue for OZL is that it needs to win the confidence of the investment community again. The stock is tarred with the brush of poor management who could not get their financing right, who paid too much for Allegiance, and who spent money with flagrant disregard to the approaching headwinds, who then wanted to sell the company for a pittance of 82.5cps.

Not a good track record.!!!!

LYC may be a great investment for OZL, but IMO, the management has not yet demonstrated that they can manage OZL well. If, after a year, with good profits, and a well defined strategy that they are executing, then maybe an acquisition is appropriate, but not yet. (I have to admit that I have not studied LYC and am not making a judgement call on whether the investment is valid or not, I am putting forward reasons why any purchase now is not a good move by OZL).

HT1