The offer is pretty fair imho as both an OZL and CZI holder. Very happy to effectively get a very cheap top up in OZL.
The worry for CZI was the inevitable cheap dilution required to put up equity for it’s share of West Musgrave.
This offer also takes the project risk into a company (OZL) more appropriate for holding the risk, and into one with a much lower finance cost. Although OZL will have to measure it against other investment options. It is otherwise quite likely to have cash sitting in the bank (at 2%???), or can borrow quite cheaply if it doesn’t have the cash.
Was happy to go through the development with CZI, and had refrained from going too deep in order to be able to participate in a development rights issue - but I think this swapinto OZL shares is much better for me, for my risk profile, OZL has imho turned it’s two existing projects into longer life and better projects as the years have gone by.
Good luck to those here that choose to move over to OZL.
EL
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The offer is pretty fair imho as both an OZL and CZI holder....
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