good use of cash at hand, page-5

Yes HT

Firstly thank you for the offer of the model but I dont want to post my persona details on HC. I also trust you claculations as thye seem very resonable based on cuurent revenue and other similar Copper companies

I think the main difference is BHP is a fully diversified company whereas it clear OZL needs to become more than a one mine pony, therefore the need to grow medium term through acquisition or development is a requirement. I guess some people are more keen to see a robust pipeline that will deliver income beyond PH

People are saying OZL is cheap at 1.04 and I agree, however its only cheap because of the current CU price.

If CU was 2 dollars then 1.04 may be fully valued or even a little expensive. In this scenario OZL SP could fall to 80 cents, the cash therefore becomes even more valuable from a capital management perspective. Thye could buy back ovr 35% of their capital

The terms of PNAs acquisition will give us a good feel of how copper assets are being priced in current market.