Basically, the way I see it, if BHP fail to consider an offer, then PH is gone for good. This is one of OZL best assets and I think BHP would be a good fit (obvious reasons - next door etc).
I can't see the Chinese coming in, buying OZL, then off loading the PH mine unless they get a hefty premium - and more than what it would cost BHP today...
The script idea does have merit and at a small price to the overall balance sheet of BHP...
Buy hey, what do I know??? The company don't really tell us much so all these comments are only speculation...
OZL Price at posting:
$6.55 Sentiment: Hold Disclosure: Held