green day, page-6

And this is where I disagree with you, I think the entire board should be sacked.

To have gotten their forecasts on profitability of Century vis a vis the zinc price so wrong is reminiscent of the fools that ran Pasminco 6 years ago.

In a nutshell, ZFX would not have been taken over today, the board would NEVER have approved it, nor should have the shareholders.

To put things in perspective, at the conversion price of 2.68, the old ZFX would have been effectively taken over at 8.33.

Now think for a minute, what would ZFX be today if it was trading on its own? I would bet my BOTTOM dollar (I don't have much left!) that it would be WAY higher than the current conversion at 1.90(5.90). And the standalone Oxiana would have definately NOT be below 2.00


They are going to get laughed out of the room at Diggers and Dealers next week.

No board should be sitting by idly, when your shareprice erodes by 35% THIS financial year. If they aren't being proactive, sack the lot and at the very least, employ an active board to stabilise the share price. Forget about going up at the moment, some stability would be great.

Mind you, it could be Owen Heggarty and his mates selling stock out because they don't want any involvement anymore after seeing his payout rejected. That just crossed my mind.