re: Ann: Prominent Hill 2011 Mineral Resource...
HT/Dasa,
Perhaps the market simply wanted to see some conversion of resource to reserve (rather than simply depletion) and secondly a more significant resource growth?
Imho we simply need more patience on both.
And on OZL pumping out cash to shareholders and buying back, yes I am all for it. It's been my great disappointment that IGO has (bizarrely unnecessarily imho) gone off the rails in that respect.
Growth is only good if it is genuinely value adding. To be bigger, or more diversified, or to last longer doesn't cut it. If OZL couldn't make C work or extend PH, then I'd readily accept it just shrinking away with cash returned to shareholders - we"ll find another use for it,LOL!
Not yet a season for buying imho though, just sitting on what I had, wishing I'd cashed out of a couple of things that have turned to custard.
EL
OZL Price at posting:
$10.38 Sentiment: LT Buy Disclosure: Held
