The SP was also cheap on the millions they wasted on the last buyout at much higher prices that did nothing to support the SP...surely there not going to make the same mistake twice?
Rather the focus since 2009 with a new CEO who came on board with so called business and growth development skills and over $1b in cash should have been on finding growth and minimizing the one mine risk ..knowing full well that PH was eventually going to deplete and therefore effect production and earnings They failed due to lack of foresight and complete ignorance to market concerns
now of course the SP is also getting smashed due to resources being out of favor
OZL Price at posting:
$5.41 Sentiment: None Disclosure: Held