Good post 2ic,Much emotion driven selling the last couple of...

Good post 2ic,

Much emotion driven selling the last couple of days. I think many investors had maybe written their OZL down to zero over the past 3 months and when they had an opportunity to get out they took it yesterday and today.

Margin Loan pressures also contributed to the mass selling plus many more factors that should not really sway anyone adopting a serious investment / risk / reward analysis on their own invesment.

Minmetals have had a couple of months going over every imaginable financial number, ratio, grade,etc etc at the highest level of their company and OZL. OZL would have been insane to NOT open up every single closet and reveal any skeletons to Minmetals, to hide anything during this process leads to jail time for any Directors or Managers involved.

I would think Minmetals would not have made a cash bid unless they were serious in seeing this through. They know they are getting a steal.

I would also find it unlikely ( not 100% though )a labour government knocking back a relatively small international investment of around $2.5b for a company that may drift into administration if they do decide to skuttle the bid and thus cause shareholder financial disaster, possible mine closures with the resultant staff layoff's, local supplier financial stress etc etc .

It's been like a broken record, however, many of the analysts who have been here done that a dozen times all appear confident all conditions being met.

An individual call isn't it. As you say, in the old days, the arbitrage boys would be buying this with their ears pinned back.

Cheers.