I am absolutely astounded by the arrogance of OZ Board - to say...

I am absolutely astounded by the arrogance of OZ Board - to say they "do not wish to pursue the proposal" is beyond belief.

The RFC offer is attractive as it offers enormous upside potential when metal prices do increase (and they will). Imagine the earning potential if copper is $3/lb and zinc is $1/lb. Century alone would be generating more than $500 million per year in this senario. Copper especially is the metal to watch in the future and Sepon is an excellent asset with future expansion potential. What about Nickel? It is also looking stronger and we are selling this for a fraction of what we paid.

The sale to MM eliminates all of the upside potential. Why is the board not taking this into consideration? Only 12 months ago they were telling us that these assests they now wish to sell were world class. To sell it now at the low point removes all of the future potential.

I also like the RFC offer where we long suffering shareholders get to participate in the share placement at 60 cents. I calaculate this as 500 million shares available to shareholders (500 million x 60 cents = $300 million dollars) therefore about a 1 in 6 entitlement. This will be a great deal just like the PNA and RIO placements.

Some people have said they like the MM deal as it gets rid of AM. I say we should ensure the MM deal DOES NOT go ahead and then kick the board out - they do not deserve to be handed a plum job after this mess.

A bit of a rant but I needed to get it off my chest!