Spec_hope,I believe that you are correct. I posted the below a...

Spec_hope,

I believe that you are correct. I posted the below a couple of months back. My interpretation is that whereas BHP will be buying OZL, OZL will be disposing of nothing, selling nothing and that therefore we will get nothing.


From the CZI takeover announcement (apologies for the formatting):

Contingent ConsiderationOZ Minerals and Caspin have entered into a deed (“Contingent Payment Deed”) which provides for the potential payment by OZ Minerals to Caspin of additional consideration in two potential scenarios. (“Contingent Consideration”).In the first scenario, if OZ Minerals disposes of 30% or more of its interest in the project and the sale price implies a value for 30% of West Musgrave equal to or greater than A$76 million (“Implied Value”), OZ Minerals will pay Caspin Contingent Consideration of A$10 million, plus up to a further A$10 million payable at a rate of A$0.20 for each dollar of value exceeding the Implied Value. If OZ Minerals sells less than a 30% interest, the Contingent Consideration shall be calculated on a pro-rata basis (ie. if 15% is sold, the Contingent Consideration will be 50% of the amount payable for a sale of 30% or more).In the second scenario, if OZ Minerals sells 30% or more of the contained nickel at West Musgrave to a strategic party4, it will pay an amount of A$10 million to Caspin. If OZ Minerals sells less than 30% of the contained nickel, the Contingent Consideration shall be calculated based on a pro-rata basis (i.e. if 15% is sold, the Contingent Consideration will be 50% of the A$10 million).The Contingent Consideration is capped at A$20 million. This will mean the payment will be limited to A$10m if there is a disposal of 30% or more of the contained nickel (and nil disposal of interest in the project), or a payment of up to A$20m in any other case (i.e. disposal of an interest in the project or a combination of both scenarios).