good use of cash at hand, page-3

Agreed

With Copper above 3$ assets wont be cheap.

The cash is a great hedge for the future, if CU goes up then revenue from PH the SP will go up to reflect true value

If CU goes down , assets become cheaper and OZL SP will probably also fall allowing for a buy back or better value acquisition

Having said that, if a good opportunity comes along that's really good value hen I ma sure they will swoop. I cant see them being stupid enough to buy anything other than a 1st cost quartile operation given their previous history

The economy is looking shaky, with recent news not so flash I prefer more conservatism at present