Well , I certainly didn't want to start a thread full of panic and it seems as though this is they way some are reacting. I appreciate the stock has a bad history but other than the name and a few in the management team this company bares no resemblance to the old so no need to worry.
The facts are the are producing at very good rates. the headline copper price is strong and therefore so is revenue the wont be paying tax for a while and that makes the revenue even more valuable The have 35% cash backing and this is not going backwards like it was with the Century mine, this is growing due to the very profitable mine. The stock is being discounted due perhaps to execution risk with the cash, perhaps as it is a one mine operation however we know that its acurrently undervalued.
The stock has 3 billion shares on issue, today 30 million shares changed hands, 1% of the issued capital so I think the calls of big sellers is a little far fetched.
If the price goes lower it makes capital management initiatives even more likely. as long as copper price is strong and production rates are good I wouldn't be to worried about the price, specially when we have a fund selling down. If we let go of the past (admittedly I have no scars as i didn't hold OXR) We will feel more comfortable in what we hold.
If someone cna show me from a fundamental point of view was this stock is a sell I am all ears.
OZL Price at posting:
$9.80 Sentiment: Buy Disclosure: Held
