"For the time we will have to stick it out and hope management...

"For the time we will have to stick it out and hope management keeps the ship afloat."

I'm trying to convert what I know of the actual business the future for metals prices and stuff in financial statements into a forecast

In the end it doesn't matter how much you know about the mining, it is all a numbers game.

so far we have about $300m in the bank

that is probably getting eaten away on a daily basis



notice Merrill lynch has made a downgrade from $2.90 to $1.50

you could probably say that the target price is close to the intrinsic value

neutral high risk
so that would reflect all of our concerns

we now have now got 4 buys and holds

Merrill Lynch 27/10/2008 Downgrade to Neutral, High Risk from Buy, High Risk $1.50
JP Morgan 22/10/2008 Overweight $1.90
UBS 22/10/2008 Buy $1.50
Credit Suisse 22/10/2008 Underperform $1.20
Deutsche Bank 22/10/2008 Hold $1.35
ABN Amro 22/10/2008 Buy $2.21
Macquarie 22/10/2008 Downgrade to Neutral from Outperform $1.20
Citi 22/10/2008 Buy, High Risk $2.20


"Merrill Lynch rates OZL as Downgrade to Neutral, High Risk from Buy, High Risk - The broker has cut its copper and zinc price forecasts and this results in profit forecast for CY08-10 being cut by 50%, 25% and 7% in CY10, and valuation being reduced by 49%. Downgrade to Neutral from Buy and target cut to $1.50 (from $2.90). "