Upside is really limited in the short term to mid 60's until FIRB gives approval or there is a major opening up of credit markets (Then we will see the low 70's until shareholder approval is obtained). Downside is probably administration if overseas banks pull the pin on Tuesday and decide that there is no point waiting another 3 months for an uncertain FIRB decision - this is now a political football and has been offered up as a sacrificial bargaining chip by Canberra (Not their fault if it goes bust!!). Problem is that the OS banks want their money back now - not later and may well be fed up with the games being played by management along with the lack of disclosure and mistruths. Administration would mean no money back to shareholders for months - possibly years as the lawsuits will come thick and fast. I'm now out as of this week and have booked my losses to experience. This is really a stock to be played only with money you can afford to lose (similar to B&B in the days before it died forever) and it is revolving on a 50:50 chance. Do you feel lucky....
OZL Price at posting:
$5.55 Sentiment: Sell Disclosure: Not Held
