Thanks everyone for the ggod discussion.Re OZL and PNA, I have...

Thanks everyone for the ggod discussion.

Re OZL and PNA, I have held shares in both from since pre GFC so have been watching both for some time now. PNA and OZL struck the 1:2 approximate ratio some time ago when the prices were respectively around th 40:80 cent mark.

Mx made a great call many months ago when the ratio was about 1:4 or 5 and PNA has done very well against OZL since. I think the mark is about right at the moment as current producers but I believe OZL has more potential going forward (agree with you on this Alley).

Re the financial strategy, last year I would have advocated a share buy back, but I think that time has passed and I am more in the growth and dividend camp now. I am a bit with Redgum on this.

HT I not approximate divvying up of the pie. It makes sense but is probably dependent upon acquisition strategy at the moment. I think you previously touted the purchase price of the big C to be about $600 million (did taht drive your acquisition reserve figure?) Personally I think it will be more like $1 Billion due to the competition and potential size of deposit. If that is true then it won't leave enough for dividends and share buyback.

Purchasing the bib C will probably put an end to acquisitions until the PH cash cow replenishes funds.

Re the litigation. I previously posted that if it succeeds it will cost a maximum of about $40million and should not affect our financial strategy.

Either way OZL's future looks good, but I hope Feb 9th brings clarity to the financial strategy.

Regards

PS please don't hijack this thread to discuss the litigation. Perhaps start a new thread "Estimates for litigation payout" if you want to, but keep this thread to the topic