Mx - your comparison of OZL v PNA is not to be disregarded.I...

Mx - your comparison of OZL v PNA is not to be disregarded.

I seem to remember we used to be double the shareprice of PNA, pre the consolidations (but not anymore)

If you do the maths back to the pre consolidation prices we are lagging badly-

Ok we have had a capital return and dividends to factor in but all our capital management strategies have so far been found wanting.

We have addressed the class actions so they should now be forgotten.

The Carapateena situation needs to be fast tracked so that we are not just seen to be replacing PH when it looks like winding down. (ie we will still only be a one trick pony).

I hope TB isn't just happy to be picking up interest on the $750mill and is truly looking for other M&A opportunities.

If he is not going to use the war chest within a reasonable time frame he needs to be thinking about another capital return.

By the time Carrapateena is due for commissioning we will probably have a nice little nest egg just from the PH earnings.

If not he needs to start abiding by the 30% to 60% return to shareholders from profits not needed.

Which ever way you look at it he needs to be justifing his huge salary and performance bonuses.