Looking past the debt woes, the net value of OZ Minerals' assets is likely to be much higher than the current $1.7 billion market cap implies. Wilson HTM reckons there's around $2 of net asset backing. Citi, which retains a speculative buy call on the stock, ascribes $1.60 and says Prominent Hill could be attractive to BHP Billiton, operators of the nearby Olympic Dam copper/uranium mine.
so why are people saying insolvency?
we can and will trade out of it
Sell Martabe for $300 MILL and up to 50% of PH
WE ARE DEBT FREE AND OFF AGAIN
OZL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held