OZL 0.00% $26.44 oz minerals limited

great article, page-14

  1. 738 Posts.
    Oh,alright,Daniel,bloody hell.Here goes:
    DIGGING DEEP

    Every day someone or other is saying," We can't rely on China to save us." But save us from what? asks OH."what we don't havehere is a pre-Keynesian depression. What we're gonna have is a recession around the world.It is now a question of what the impact is.And really, you will not know the impact until it is all bloody over anyway. So you have to do the best u can. Stay strong.
    It is the morn aft the $75B equities bloodbath and while his body and superann balance r hurting OH remains prodigiously undaunted. When t handbaskets are heading to hell,OH is t guy u want to spent some time with.
    4 t best part of 4 decades t 60 yo founder of Ox min has successfully walked t fine line between inspirational leader n burslesque mining industry caricature. He is a living legend in an industry full of larger-than-life personalities. Any conversation with him is a joyful journey, as he veers from almost ockerish imprudence to intense, technical discourse on t state of t mining world, from markets to exploration.
    Mind u his personal currency in t wider market is not what it was once. Until last yr,"The Owen" could do no wrong.Thru 25 yrs at CRA, OH's passion,his sense of fun and perspective, and his keen,if rough-hewn bussiness acumen established his reputation. Then in 1994,he turned entrepreneur, with the founding if OXR. Over 13 yrs,"The Owen and The Ox" dug themselves aplace in mining folklore and OH bcame a sholder hero as he translated a $22M gold prospect in Laos into a $6B Aust success story.
    Along came ZFX, a lead miner with lots cash but diminishing future options .The OX and ZFX had talked often about a merger,But Zfx
    's new and ambitious boss,former CRA,WMC and Rusal man A Michelmore, was ready to make it happen.A deal was struck and so OZ Minerals was born.But after a battle over who would run the show OH was t man to step back from executive mngt. Both OH and OZ c/man B cusack,another former CRA legend, Were stunned when s/holders,irritated with the enforced succession plan,voted down a $10M golden handshake for t founder.
    As it turns out they were right to be skeptical.Since listing,OZ has burned about $7B of s/holders value as zn and pb prices have been shreaded,The meltdown has furthur eroded OH's cred on s/holder street,just as his decision last month to bcome a director of FMG has a few of his old CRA mates wondering what the Owen is doing.
    There are a lot of people who say,"WTH R U doing,Owen?.But I'm content where I stand. The decisions have been made for the right reasons and they were right at that time."
    On his FMG option,OH says:"Andrew has good assets
    , a good market and has been running against the wind, uphill and with fire coming at him.Bcos, U know, RIO and BHP didn't hold back.So they are t things I like to support.Sensibly,not in any defiant way.And I think I can make a contribution there.
    He is frank about OZ disappointments."WE have been beaten up a bit.WE underestimated the Owen factor a bit.Blokes have said to me,it's like following a footy team and U have moved them to Sydney or Brisbane.It was that strong,personal retail attachment and following that I had...but U have to break those bonds to change and grow."
    For the best part.....etc
 
watchlist Created with Sketch. Add OZL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.