After reading the post by GFM , it looks as if the overnight raid on Sandfire by OZ Minerals was premature if they have not found further ore to extend mine life and are going into joint ventures outside their area.
The reason for venturing as OZ Minerals have done is indeed puzzling.
Why M@G exited CuDeco is equally puzzling at the same time as making further investments in OZ Minerals and seeing a decline in the OZ Minerals share price blamed at the time by the Managing Director of OZ Minerals, Mr Terry Burgess, on high frequency trading.
The other puzzling thing about the M@G affair was that they never made contact with Wayne McCrae to sell their large stake.
It could possibly been arranged that their holding be sold in one line avoiding brokerage and the wreckage it did to the share price. M@G would have saved themselves a lot of money.
The other curious thing which has never come out is where those 12 million shares sold after hours in one trance went to. This also continues to puzzle me.
CDU Price at posting:
$1.76 Sentiment: Buy Disclosure: Held