Ville, I was thinking along similar lines wrt your comments.
While I would need more data before supporting the acquisition, if OZL is "buying the worst house on the best street" then it may be a really good investment.
I have faith that OZL has done all the financials and due diligence and worked out the capital required to upgrade. I would though, prefer TB to walk away rather than overpay. If you overpay, shareholders lose out big time. (Think of RIO and Alcan - that has not been their finest hour).
HT1
p.s. - current cash position of OZL -
$886m at Dec 30 minus $100m divi minus $30m buyback minus $55m Ankata development minus $30m exploration plus $120m (approx) from copper sales
equals approx $791m at end March
They certainly have the cash to do the purchase, and do any capital upgrades and do the C exploration shaft and .....
HT1
OZL Price at posting:
$9.59 Sentiment: LT Buy Disclosure: Held
