OZL has self value destructed from $18 to $4. It would hearten me if OZL management apologized to share holders for their role in value destruction of OZL - no doubt all resources stocks have been hit but OZL is much worse than most - why didnt Mr Burgess illustrate how OZL have fared compared to other resource stocks - is he embarrassed by his companies relative performance?
Maybe a value destructive M&A with Sandfire or Rex would have been less value destructive than not doing any M&A and having ONE MINE subject to massive impact from any operational incident like a pit wall subsidence for example.
The Chairman says that the current share price is way to cheap - I guess that is why we see directors using their own personal funds buying more shares in OZL every day! NOT. It would appear that maybe directors do not have the confidence to burn more of their money investing in OZL at this time.
Lets buy a tunnel boring machine Lets not bore any tunnels till we do the PFS metallurgy etc ?!?!!! Why not buy a tunnel boring machine after the PFS when you know if it is a vaguely worthwhile project?
If you have enough confidence to buy a sexy tunnel boring machine - why delay the tunnel?
I think OZL is oversold but the management seem to like to make themselves look silly at every opportunity IMO.
OZL Price at posting:
$3.92 Sentiment: LT Buy Disclosure: Held