Agree @rabbitoh, the market caps are getting scarily close. Absolutely crazy when you look at their trajectory over the last couple of years.
I think it come down to 'shareholder trust' now though.
There doesn't appear to be much (if any) shareholder anger in OZM, even at the lows - we could all see this was Holland selling out, and tax loss selling. Even though AT is on the board of OZM, there is a lot of rage against him over at NXM (as you have seen), which I think has carried through to the price. I personally don't think it is warranted, but when a SP peaks circa $0.60 and is now around $0.05 there will always be some very unhappy shareholders.
It is also interesting to note the strong similarity between NXM and OZM in their actions (re gold and now lithium as well). I actually like and respect both AP and AT and think they have their heads screwed on.
If you put aside the SP action etc, I think when you look at the ground NXM has, it is severly undervalued. NXM has huge tenements in VIC and NSW, that if they even get it half right it could be scary.
That said, AP has definitely run OZM slower and leaner than NXM, and I think that is what is now being reflected in the SP, shareholders trust AP more than NXM and AT. Rightly or wrongly, that is what the big difference appears to be to me. Also, if I had a preference re spending, it is definitely the way AP does it...I am happy to wait a little longer, be a little more conservative and keep dilution low.
I am actually more excited for the mulgabbie scoping study than the lithium drilling right now, because the drilling could go either way. The scoping study is on the track to monetisation, and I am mustard for that step!
Note I happily hold both, and took part in the recent raises for both.
OZM Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
