Like yourselves, I have been seriously burnt with this stock. I still hold and am positive about the company because, IMO, great resources beat management every time. (I look at BHP under Prescott and where that company is now - I know that it is not exactly the same comparison, but I hope you get what I mean).
I like to look at the glass half full. I consider that OZL can rise from the ashes and it has a strategy that has been spelt out (with timings) to grow copper production, both by brownfield growth and acquisition. Like Enoch, I am happy for slow and steady progress on growth.
The issue that Dogboy raised is interesting. Why the change in cutoff? Don’t Know? Does it alter the gold in the ground? No. A change of 2.8% is not huge and may be a function of new drilling results. Is it material? Don’t know?
At a mine life of 10 years the sp should be about $1.33.
The company needs to put runs on the board. This fin year will record a loss. It will not be till Aug next year when a 1/2 year profit will be positive. I am not expecting significant sp moves for some time.
HT1
OZL Price at posting:
$12.40 Sentiment: LT Buy Disclosure: Held
