Whilst I think the most likely result is that Martabe will be...

Whilst I think the most likely result is that Martabe will be sold and OZL will survive what about another scenario.

OZL sells or gives majority holding of Prominent Hill to another company say BHP. Provided they get the right price and don't do anything stupid, they could pay off all debt and have enough cash to carry them through the cuureent downturn hopefully developing Martabe in 2 -3 years time when the market improves and they can afford it. OZL would also have to continue to concentrate on reducing cash burn.

With Zinc men at the helm of OZL this could happen.

I don't particularly like this scenario, and would prefer Martabe to be sold as I don't like the sovereign risk associated with it.

Any thoughts?