buyback

OZL will be sitting on a huge pile of cash as at 30June. The way I see it OZL have 4 choices about what to do with it.

1. Do nothing and continue to build war chest.
2. Give a huge dividend to the long suffering shareholders. This would admit that management don't know what else to do and can't be bothered to find anything to buy.
3. Make a large earnings accretive purchase. There should be lots of these around if they do their homework.
4. Do a massive buyback.

In my view, OZL will be looking at the current share price and be asking themselves, what better asset can I buy at the moment, with good earnings stream and potential massive upside, than ourselves.

They could buyback $1.5 billion worth of shares up to around 1.35/share and have this massively EPS positive. Any future development of PH site could be debt funded out of cash flow.

If OZL announced this the share price would be well supported. The shareholders need some good news.