It MIGHT now be the right time, not just because of the sp fall, but also because the premium required has probably dropped a lot as well, and a management supported deal with full inspection of the books, rather than a blind bidding war, might be possible.
Whether it is yet the right time, or whether it is the right asset, I will leave to Burgess and the board. Remember, one it might get cheaper, two there may be other opportunities, and we can only likely really afford one aquisition of this size at this time, given the capex requirement that goes with it.
What is very clear is that Burgess was RIGHT not to have tried in February.
Pilatus, I am sorry I was so blind and biased by trying to use my own bitter experience as an example to learn from. In the context of all the successful acquisitions in base metals on the ASX during Burgess time at OZL I have clearly made a serious mistake, and will fully deserve it when you list these successes and thereby demonstrate how blind, biased, stupid and personally focused I am. I should also have mentioned other duds, but didn't as in my ignorance, not having been involved in them, I wasn't sure I knew enough. Now thanks to you I KNOW I didn't.
Ricstar, Glad to have someone whose not biting my head off for going against the mood of the board.
EL
OZL Price at posting:
$7.92 Sentiment: LT Buy Disclosure: Held
