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independent analysis, page-315

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06/09/14

18:45

Post #: 13935510
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Originally posted by roh ↑

buddy,
The subject of the High Court matter came up briefly among a number of topics discussed. Max did say as I recollect it that he was following the decision of the High Court in the Mabo case. I did not press him on the relevance as we moved quickly on to discuss other matters.
Did you notice the sell down by the Vanguard Precious Metals and Mining Fund of its OZ Minerals shares from 9.87% to 8.77% ?. I think they are connected to M@G which has also been selling down its stake in OZ Minerals.
M@G were the ones which offloaded their large stake in CuDeco with the subsequent share price retraction. I hope they do not do to OZ Minerals shareholders what they did to CuDeco shareholders. A friend of my brother offloaded her $50,000 dollar shareholding in OZ Minerals earlier in the week. She reasoned it was time to get out.
I do not quote the whole article which has been published in today's The Australian but it states ,in part,under the heading "OZ Minerals appoints a new CEO" OZ Minerals has named a Rio Tinto executive as its CEO ,marking a new phase for the miner grappling with weaker commodity prices, a shrinking cash pile, and few options for expanding its operations.
The company, which operates the Prominent Hill mine in South Australia, is yet to return .to profitability . Last month ,it reported a $7.4 m first half loss.
Oz shares have performed badly in the past few years, plunging almost 75% since the beginning of 2011. Analysts have been critical of the pace at which the company's once-hefty cash balance has evaporated "

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roh
hows the scorps going? You do sound a bit like him somehow...
have you shared an email or two recently..?

I hope so... I would be sad if he was missing the unfolding of the story...
xx

CDU Price at posting: $1.69 Sentiment: None Disclosure: Not Held
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