Ann: IMX signs Heads of Agreement to sell Mt Wood, page-20

re: Ann: IXR: IMX signs Heads of Agreement to... {sigh}

Those who don't learn from the past are doomed to repeat it.

I put the fall of the once mighty OZ minerals down to two events that some posters here are clamouring to repeat.

First was the decision to acquire Avebury. This was a disastrous acquisition.
The second was the payment of a special dividend.

Forget the incompetent board, non disclosure of loans and other excuses, simply put these two events/decisions burnt the cash at hand and left the company at the mercy of the banks when the GFC hit. If these events had not happened then the payment of the bank loans would have been a non issue and the company would have survived.

OZL now havs a situation where OZL has cash at hand, like OZ Minerals did after the OZ/Zinifex merger.

WOZL must be careful that any M&A or payment of dividends does not expose it to banks etc when OZL seeks capital for expansion at PH or to develop big C.

I suppport an M&A or JV but only after careful Due Diligence

Only my opinion of course

Regards