AOH,
The 51% equity that Xstrata can purchase by June 3012, IMO, would be a showstopper. While the company ticks most boxes, sovereign risk, resource size, etc, if OZL purchased and then Xstrata took the equity, OZL would have the cash, but now a copper tenement that does not meet the strategy.
Am I reading this wrong?
HT1
ozl strategy, page-21
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