David, I have been reading your posts with interest. You may very well be able to contribute something...or not. I have a problem with your arrogance however, the way you flippantly dismiss every board member as incompetent and incapable of seeing what you the self proclaimed "guru" cannot is unbelievable. A genuine contender would not need to espouse their qualifications like you do. A genuine contender would not have time to be obsessively posting on HC like you appear to be doing.
You know in politics it is very easy to be in opposition all you need to do is oppose anything that is remotely contentious and say you would do things differently. you have an instant audience.
I am in no way defending the current board. But it is true that we are in uncharted waters here. This is no normal bear market. No one knows this more than the banks who are ALL in the same position as OZL (actually worst) They are struggling for their very survival as well and the issue of bad debts is their number one priority (preservation of capital) Look at the desperate actions of ANZ (and ML) as an example of the lengths banks will go to retrieve capital in the Opes case, where they are trying to extort even more money from the poor opes prime customers- read this article it is unbelievable . http://www.businessspectator.com.au/bs.nsf/Article/Opes-clients-held-up-and-robbed-$pd20081210-M75ET?OpenDocument&src=sph
The point is the banks are desperate to restore profitability. Their attitude(not all in OZL case) is that they need to ration credit now and will do so by taking from the incompetent and give it to the competant.
Now Guru since you have put yourself out there I think we are entitled to ask you as "leader of the opposition" some questions. qu 1. You know the history of commodities , so using your qualifications what would you do about hedging Gold? Copper Zinc? Lead?
qu2 Forex What is your attitude to the AUD. Down to below 50c or back up again?
qu3 Mine closure. Is it better to close down Century now and incur those closure costs which we cant afford or stick with it- hoping for a rebound in Zn
qu4 Asset sales . Is it better to sell assets that are saleable in this market at a decent price eg PH and lose your jewels, or flog the lesser mines that in better ties will be cash cows once again.
qu 5 Equity raising. What are you views on this issue at current sp compared to say asset sales.
Finally what information do you possess that can be passed on to the banks that they are not aware of that will turn these negotiations around.
I encourage others to ask questions so that they know what platform is going to the OZ board
OZL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
