Imho we need to focus more on the quality (or otherwise) of the exploration effort, rather than on the results to date.
We need to remember that a lot of the exploration effort is in elephant hunting with the results binary - nothing or the jackpot. The serious regional effort had to await the commissioning of PH for cashflow reasons, then the GFC and reorganisation of OZL and then settling in of a new CEO and affirmation of the focus.
Very early days imho. Look at companies like IGO and WSA that are growing on painstaking exploration effort, the big breakthroughs are rare but hugely rewarding. Judge the exploration focus, judge the skills brought to bear, but far too early to judge the results.
EL
OZL Price at posting:
$14.00 Sentiment: LT Buy Disclosure: Held
