i bought more ozl at 1.16 today - i believe they are not a bargain, but they are pretty solid for a mid sized resource stock.
they have plenty of cash still to spend to get some favourable farm ins,( besides the azure one which is not big bickies but could come in with a long shot winner!)
and in the unlikely event of a big shakeout they could still pick up a bargain
even if there is not a big equity shakeout, it is possible the credit markets could be a bit jittery for a while at least ( and the more speculative equities sectors for that matter ), and therefore juniors could find financing a bit difficult.
biggest risk to this stock (and most of resource sector) is Henry the lover of all things in nature and the ALP!! Surely they cant be looking seriously at 40% resource tax, plus the company taxes!!!
OZL Price at posting:
$11.85 Sentiment: LT Buy Disclosure: Held
