Hi MichYes it was a good day for OZL, but I don't agree with...

Hi Mich

Yes it was a good day for OZL, but I don't agree with your comment that the consolidation was a good idea as I think it went too far, but what is done is done and I am not always right.

We are still in a bit of a silly season with respect to OZL's sp given the capital return, the share consolidation, copper price fluctuations, $A rise and rimours of European debt default etc. People sometimes forget all these factors are in play when determining the sp. I am looking forward to next financial year when a lot of these factors have disappeared. The financial year report and this quarterly report should make fascinating reading.

OZL still has a looong way to go to get back to recent highs of $18:00 (after consolidation). It will get there as some of the external factors disappear and the fundamentals reassert themselves, but we will have to be patient.

Lets hope for more good days like today

Regards