Analize this: OZL takes over a tiny struggling little company that owns a little nickel show in Tasmania. OZ pays $1.1b for it. Value today around $60m OZL board doesn't make any decisions on Century and allows it to continue to operate at massive losses $$$ Michemore wants to do a "return of capital" to shareholders a couple of months ago. Prominent Hill over time and over budget. Water Problems? Hegarty bails his stock (margin call!!!??) a week before OZL announce finance problems Banks wanting to change the goal posts due to , "who knows" Analyze that and then analyze this: Hegarty gets a golden handshake of $8m from OZ. If he beleived in OZ why wouldnt he use the $8 to secure his "margin call" which he says was $6.2m?? You wouldnt if you didnt have faith in the co. Can u blame him?? There is no question that OZL has great assests, but great assests dont make a great company. A company needs sound management and experienced people who know what to do in these times and I dont beleive that the current management have any idea of what to do. Its just sit back and wait and see where it takes them and hope they are still upright at the end. They just dont know what to do. Unfortunately the days of "cocking up" and then run to the shareholders or institutions and raise more cash to bide you over, ARE OVER, red rover. The solutions are actually quite simple to survie in these times and with the right management and the right decisions OZL could slide through these times completely unscathed. With the current board is that likely, can they make the right and just decisions for this broken icon to recover. The answer is unfortunately " I Dont think so. I do hope they get help and that they survive but to date the board of OZ is on a plane without a joystick. Good Luck
OZL Price at posting:
$5.50 Sentiment: None Disclosure: Not Held
