Thanks but to be honest, I felt more angry than eloquent. Or anywhere near well informed. However, if I had wanted to buy a company which was a zinc producer, then I would have bought such a company. I didn't expect my long term holding of Oxiana (predom. copper) would suddenly become a predominantly zinc company at one swipe of management's pen.
So why were we not given the vote? Evidently from Ox reply, there was an option permitting that but their response to me neatly sidesteps that issue with a trite comment to the effect that it was in the interest of Ox shareholders. Wrong. Big time. Maybe in the long, long, long term. Share prices often go down in the elevator but it takes a slow walk up the stairs before they reach levels previously enjoyed.
Down 40%, today up 4% - oh goodie goodie!!!
Ox management has egg on its face, for sure. Bet they are not looking forward to their next shareholders meeting.
cheers
OXR
oxiana limited
reply from oxiana pr department, page-6
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