company`s request for trading halt ..., page-42

So it is in relation to the Company's position with respect to the share offer.........mmmm?

Oz's position can only be to continue to recommend MMs offer/or reject it/ or change to recommend a new better offer!!!!!!

Given the earlier dicey situation with working capital and debt the Board had very little alternative initially but to recommend the offer and also seek to sell of some assets.

Things have now changed significantly with the continued strong gold price and improvements in Copper and Zinc. The fact that PH has got up and running successfully and Century is probably at breakeven and with other sources of income one could assume OZ would now be cashflow positive.

RISK has now virtually abated and this was the prime reason the banks would not rollover the debt. The Banks must be seeing it a little differently over the last couple of weeks.

There is a strong possibility in my mind that now the Aussie Banks (with a little bit of Govt lobbying) will now provide a new debt funding package to OZ. With this in the wind the FIRB would have thought it prudent to delay their decision. Naturally having OZ trade out of their problems would be infinitely preferable to the FIRB recommending approval of the MM offer.

It would be an incredible about face by OZ to now reject the MM offer but the situation could well have changed so much in the last week or so that it is possible.

The other possibility of course that would change the Company position toward the MM offer would be if there was a higher offer.........it was always on.

Anyway thats my thoughts about it.