Macquarie's is one of the few rational reviews with a sensible conclusion:- "Another solid set of results. We rate OZL Outperform with a recently increased price target of $1.95ps. OZL has established a strong operational track record at Prominent Hill. With copper continuing to be our preferred base metals exposure, we believe OZL is well positioned to generate strong near-term cashflows and continue to pursue its regional and near mine exploration program to extend the base-case LOM".
Many of the others read like they were written by a bunch of amateurs. OZL has listened to the shareholders wanting some of the excess cash back, yet still positioned itself to make a strategic move if the right opportunity presents itself. It has struck a reasonable balance. Most of the whinges come from those who are always whinging about something. There is not much substance to back them up.
OZL Price at posting:
$17.50 Sentiment: Hold Disclosure: Held
