Mr Michelmore also noted that OZ Minerals closing share price on 15 September of
$1.445 was well below the valuation of $3.80 - $4.40 per share determined by Grant
Samuel & Associates in the Independent Expert’s Report prepared in May 2008 as part
of the documentation for the Zinifex Scheme of Arrangement.
“One thing that is clear is that the inherent value of the Company’s assets has not
deteriorated in the 4 months since the Independent Expert’s Report was published”, he
concluded
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