big c on the block, page-5

I am struggling to see how buying Big C for $250M, spending and additional $150M on exploration and studies and selling it for $1B would be seen as a poor outcome.

The majority of the cash drain on OZL’s balance sheet is attributed to shareholder returns and the deferred mining costs at PH, from which the cash flow impact has been exacerbated by the poor operational performance in the last 4 quarters.

OZL currently has a market cap of $1.1B, given they have +$500M in cash and SFR, a sale of part or all of Big C would rerate the share price.