$5??, page-11

OZL seemed to have a consistent, coherent agressive growth strategy via acquisition a few years ago.

As time passed not much growth happened, and the mantra of looking for growth opportunities became a broken record re-played at every quarterly. At least OZL didn't burn the cash on any crazy ventures in Romania etc.

So there is still quite a bit of cash ($600M of $800M) to wisely invest or return to holders. The growth plan is a lot more conservative now it seems - more working with what they have and staying put - organic growth focused on Carapateena and going underground at Prominent Hill rather than acquisition.

Potential upsides for OZL in next 12 months:
Carapateena resource upgrades
Near Carapateena resource finds
finish pit expansion and reduce overburden % at PH
TOE approval
SFR resource upgrades
Aussie dollar softening vs US
out of the blue acquisition/JV on nice opportunity

Some or none of these may come to pass......

I cant see the current SP staying this low for longer than 6 months but I also thought that at $7...I didnt see further falls below $6.50 coming.
I bought extra at $6.30 and am ready to do so again at $5.30. Can I be wrong three times in a row? Please dont answer that :)