Thanks HT,I agree with your comments. I had hoped OZL would have...

Thanks HT,

I agree with your comments. I had hoped OZL would have a go at Carrapateena as I suggested some months ago. Hopefully their experience and close infrastructure will be a positive counter to the well cashed up competitors. Price may be too high, with a JV a possibility.

Unfortunately I don't agree with your current position on a share buyback or dividend pay out at this time, despite previously being in favour of them.

I would prefer OZL to sit tight on its cash until some of these current plays have played out, and there is more certainty in the market. Hopefully in about 6 months to a year we will have a clear picture of what capital investments we will have to make and how we will fund them. Don't forget we have some very interesting projects overseas that will require cash.

I hope someone in OZL Finance is working on a capital plan, so we can keep borrowings to a minimum whilst progressing our projects. I would like to minimise our exposure to the *%#@*! banks as much as possible.

Prior to the last crisis we paid out dividends at the wrong time, and we spent a $billion on a wrong mine purchase,

My view is to keep all monies inhouse until 2011 (when tax credits may be exhausted) and we have a good idea of future expansion plans and their capital requirements.

I enjoy all the posters on here and the more positive debates and conversations we seem to be having recently. Seems like a lot of the negative posters have moved on (thankfully). There are ways to disagree and debate without being nasty or negative.

Keep going OZL and keep goin posters.