The reason for the SP drop is that OZL is stupidly asking for...

The reason for the SP drop is that OZL is stupidly asking for bridging financing (which they don't need unless the FIRB decides it needs a further 90 days to make a decision). This is obviously going to make enough shareholders sufficiently twitchy to see a bit of a sell off.

Given the 2nd and 3rd tier nature of OZL assets, the complete absence of alternative funding options for the company, and the fact that administration would see 6000 labour voters out of work, I think unconditional FIRB approval will come sooner rather than later.