4:57:32 pm oz minerals update, page-70

Can everyone get a grip......what is with all the long faces. OZL will get through this. it has too many quality assets. There assets (even written down values) exceed the liability.

Sure this announcment today is another punch (one of many in recent times) but Oz is not on the canvas yet.

todays announcement unfortunatley was about preparing us for the fact that we need to sell assets to get out of this....probably a share placement at 30-40 cents....for about AUS $200 Million (600million shares) sell Martabe for US $300 million = AUS $454Million...hopefully don't need a JV but maybe a partner for 10-20% only = US $150 Million. This will pay down debt by $881Million....actually leaves around AUS $200 million to roll over long term.......

we survive and fight another day........

BUT i agree that board members will have to go after they messed things up (shocking disclosures)...CEO MUST be the first to go. If I was AM i would have no other choice but to stand down. if he really feels strongly about this company then he must do what is best for the company and its shareholders. The only way he would stay on is if the financiers have requested that he be at the helm.....only then. but i doubt it.