It seems quite a few lenders have reduced the lvr of OZl whilst in Trading HAlt.
The ones I am aware of
BT down to 50% from 70%
J B Were 40% down from 70%
Anz 0% down from 60%
Comsec maybe 0%
They have reduced and expect people to pay out the differences, and yet they cant sell the stock???
So they are forced to sell other stocks to make up the difference. This may in fact end up benefiting OZL as when it relists there wont be the margin call sellers selling as such, as they had to have sorted out their margin accounts already, if that makes sense.
The resource report normally would be very positive (4.3 mill ounces of gold!!)
I think extending till 29th Jan is the best move, so as to give the company time to properly assess all the options available and making the right decisions for all of us, so the ozl ship can start sailing again.
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