OZL management are still suffering from the disease called M&A way back from the GFC Oxiana / Zinifex days after 4 plus years it quite obvious they just don't have what it takes
Once upon a time when the OZ board where bathing themselves in the $1.3B of glory they had in cash and a newly commissioned mine called PH they completely lost their foresight for the future and fell asleep at the wheel.....some examples
They sold the Martabe gold mine to Owen Hegarty for a song instead of developing it They failed in an attempt to T/O SFR at much much lower prices back then the OZL market cap was approx 3 times to that of PNA
If M&A is value destructive how did OXIANA go from 20c to $4.00????
OZL Price at posting:
$4.15 Sentiment: None Disclosure: Held
