attn mx-, page-6

OZL has been punished like most miners this year. SFR is currently priced like OZL was a few years ago - factoring in some additional exploration success around the existing new mine at degrussa.

OZL dividend cut has seen it punished a little more than the rest of the field lately. But why would they hoard more cash this year - what possible reason other than M&A or accelerated mine development at Carrapateena? I think below 7.50 OZL is oversold. If M&A with RXM (or other) goes ahead then there is some upside. If they cant do M&A by christmas - give me that cash because I can invest it.

We live in interesting times