PapertiggerMy guess would be that OZL is suffering for lack of a...

Papertigger

My guess would be that OZL is suffering for lack of a clear growth path. I liked their purchase of C however its still leaves a significant hole in their growth over the next few years. Worst case senario C is only going to replace the revenue lost in PH, due to PH's cuurent short mine life.

Probably to soon to judge their exploration effort, but maybe the market is getting impatient in lieu of any other projects to fill the growth pipeline.

PNA on the other hand has a clear growth pipeline, its an easier story to get enthusied about IMO.

Not that i am in anyway saying OZL is less of an investment its just my personal opinion, if OZL gets to deploy their balance sheet strength at an opportune time then it could change the above.