See this is the problems I've highlighted with the pissant management team for months.
They had 3 months to prepare some sort of capital raising, debt issue, even hedging revenues so no more outflow of capital happened in the next 12-24months.
3 months is more than enough time to build a prospectus for either or both (equity/debt) issues.
Even if they had done a 1 for 1 at 25c and sold Martabe at $350million would have taken out most of the debt.
The idiots have no idea about doing anything...as has been proven as they watched first zinc crash (Zinifex gets the blame here) then watched as I told them to hedge copper.
Where was the risk management at $2 copper price?
OZL Price at posting:
$6.50 Sentiment: None Disclosure: Held
