why is oz down today, page-14

Dasa, you wrote : 'It would be interesting to work out a possible dividend if OZL didn't have the huge tax losses it has to wipe out before it can offer franked dividends'

Would you be kind enough to explain this statement. What are 'tax losses' and what is their link to franked dividends?

I recently topped up my OZL holding at $1.18 (overall average price paid $1.30)which doesn't look so great given the slide in recent weeks. Its hard to assess fair value for this stock given its recent dividend history and changed profile.

I also have BHP, but the divi is low and it doesn't have DRP (not many miners do, for some reason)so I wanted another miner and , by all accounts, PH is a quality long-life asset. Also many analysts are bullish on copper and gold medium term.