OZL may have made a run on SFR, but with a pile of cash close to $1B. there will be plenty of questions from investors today about it's spending plans. OZ was one of 6 bidders for the undeveloped Carrapateena copper Gold project, but Street Talk hears it has been whittled down to 4. It is unclear whether OZ is still in the hunt, but investors will be curious to know if it is still thinking about putting up the $2B or so needed to develop the operation. (The rights are likely to sell for $300m)
It could be months before the winner is chosen.
The bidders also need to sort out what to do with the Uranium which is between the grade at P Hill and O Dam."
AlbertE, I read the announcement as well. I am not too worried. OZL would have insurance that should cover this or it claim on the auditors if found in breach. If you look at the sp, I am not convinced that the law suits have any bearing on it. It would be nice if they were not there, but there is a lot of water that needs to flow under the bridge before a settlement.
HT1
OZL Price at posting:
$12.30 Sentiment: LT Buy Disclosure: Held
