I cannot fathom the mind of a mid tier Australian mining company...

I cannot fathom the mind of a mid tier Australian mining company having "given in" so easily to apathy. It is obvious there is no "plan" or strategy they can conceptualize to gradually remove the debt obligations and restore confidence in the company through their cash flow positive operations.

Oz minerals obviously need some consultancy advice in terms of refinancing debt for those financiers NOT prepared to support the company and wish to call in on their loans. To formulate a debt reduction program that would satisfy the banks, after all Oz Minerals would have 3 or 4 gold producing mines if they could bring Martabe on-line within 12 to 18 months + massive silver credits from GG, Rosebury, Century & Sepon. If allowed to continue for the next 12 months to 2 yrs, there could be a complete turn-around for this company. World inflation over this period will see investors move towards precious metals and silver will climb higher percentage wise then gold. Together with the long term strategy China & India have to build on their infrastructure, their needs for copper, zinc & nickel together with their desire to hold gold as a stable value investment will have Oz Minerals click into place in the perfect position of dominance.

The current negative sentiment towards this company is short term and short sighted. It's all about timing and not what the company mines. Gold & silver are about to move in unison should these recessionary fears turn to reality, then when all the worlds "developed nations" governments seize pouring in sizeable chunks of debt laden money down the kitchen sink, reduce the countries interest rates to near zero & then face the burden of 'real inflation', where the currency becomes worthless, (as if it isn't already), and the poor tax payer has to climb himself out of the pit facing another up hill battle in taxes and rising costs. Where will the real value be? In the country who is holding the most gold & I suspect China will have moved out of US treasury bonds and into gold as a hedge against inflation.

So where will Oz minerals be? Hopefully not in the hands of the Chinese who will benefit enormously by picking up a debt laden wealthy miner who lacked the foresight to think and act appropriately to the changing fortunes of the world financial crisis and foresee where it would lead.

As shareholders we either pray to God to keep this company in the hands of Australians for the benefit of all Australians, we reject the Minmetals offer and hope there will be some alternative arrangement, or we keep questioning the Company executive that all avenues have not been exhausted, don't be ashamed to call on advice to turn this company around, don't focus on selling the gold operations ATM. Arrange debt reduction through current cash flow together with possible 'farm-in' arrangements, asset sales of undeveloped mines. Use some cash flow from the going operations, together with some share placement to 'sophisticated institutional investors' and/or retail investors to bring Martabe gold operation on-line. Hell even so far as getting the CEO to sign every cheque that Oz minerals pays out.

This is not the time to give up...it is the time to dig in and see this through to the end.