Take over in the near future unlikely. Why? The refusal of MM's initial bid by the government simply paves the rule: No foreign company can acquire PH asset. This effectively means only BHP can purchase (Rio is still busy to tactle its debts). But BHP recently announced that they are not interested in PH asset (too small for them).
As a long time holder, my purchase price is well below the current price, I would hope OZL is not taken over within the next 1-24 months. OZL's SP might be back to $2.00 range in that timeframe.
For day traders or short term traders, I think it is the time to sell. My understanding is that many recent buy-in is linked to the potential re-capitalization in order to get the cheap entitlement. Now, the deal is settled. Those money will try to get out.
OZL Price at posting:
$10.05 Sentiment: Hold Disclosure: Held
