With BHP pulling out of the RIO takeover and with RIO being in such debt, some of their assets will need to be sold. Some quick 'firesales' of RIO assets could provide company's that are cashed up with some very attractive projects.
Does anyone have any idea as to what assets RIO would sell that OZL would find tempting?
This could present a unique opportunity for OZ and maybe this is what Michelmore has been waiting for. The 'warchest' might be opened if the right RIO asset come up for sale.
Would this be the appropriate action for OZL or should they sit tight on their current cash in bank and develop their own pipeline of projects when metal prices move higher.
OZL Price at posting:
55.0¢ Sentiment: LT Buy Disclosure: Held
