Hi Ninie,
Everyone is entitled to their opinions, I was trying to make a point that OZ was not in as precarious a situation as you had eluded to in your posts.
Thankfully a lot has changed with commodity prices and X rates in the last few months, and that might just give OZ the beathing space necessary to keep it alive in its current form less Martabe.
We dont know what will happen to commodity prices and x rates in the future, we can only go on the current prices and those indicated in the furures markets, and IMO that paints a bright future for OZ if we can manage to rid ourselves of our debt and management problems.
A few months back I had got used to just keeping PH and Martabe, and using the cash and cashflow from PH to get Martabe up and running, but the sale of martabe and higher metals prices has IMO opened the door on keeping the rest of the assets.
No one wants to see OZ back on the brink, but really we should never have been on the brink in the first place.
Minmetals in my opinion would have been better negotiating a equity placement, that would have allowed a true win/win, but by going down the path of wanting 'the lot', they might, get nothing. It was always a risk, had commodity markets gone further south would they have stood by their offer, we dont know, but they must realise the offer is now way undervalued, and their pile of US dollars is getting worth less every day.
I honestly dont know what will happen if we get a NO vote up, but Im not prepared to vote for what I think is a dud deal, I think if the board were to announce a rights issue as a matter of urgency after the NO vote, the banks would in all probability hold off and wait to see the outcome of the rights issue.
cheers grant
the above is opinion only and written without prejudice
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