I thought it particularly suspect that some daily newspapers reported yesterday that there was a delay in PH production and they were still in the commissioning phase. The report indicated once again that the company prediction had not been met. It gave no indication of when the first production would occur. It was a particularly negative article. It was not supported by any reference to any OZL spokesman.
WELL!!!! We have just been informed by the company (ASX Announcement) that everything is going well with first saleable concentrates produced.
Folks this is how the media plays this delicate knife edge situation. Howmany shareholders saw these articles and thought "PH delays now the banks will now surely not agree to an extension - OZL is stuffed" and dumped their shares yesterday.
The reporter did not disclose any interest in OZL.
The regulators need to take a look at this one.
OZL Price at posting:
$5.60 Sentiment: Hold Disclosure: Held