Remember SFR are arranging a project financing package for the...

Remember SFR are arranging a project financing package for the Degrussa development. Their proposal, while based on optimistic assumptions re copper price and exchange rates, still shows a very quick payback period.

Therefore the big question is whether an opportunistic window presents itself to launch a cash/scrip offer. To date OZL has played it's cards well. Once the capital return and 10:1 share consolidation are completed it can focus on future investment options, including a possible crack at SFR. One option could well be deferring/scrapping the indicative $200m share buyback plan.