vindication, page-18

Ville,

My position not changing, but you may be finally noticing that it is nuanced.

I have always accepted there is risk of OZL failing to achieve its goals through the current strategy (and I would say the odds of that failure may have increased substantially)

I however have consistently rejected your criticism of the company for not having gone on another mega maniac spending spurge, or for having failed to achieve the impossible, eg to find a value enhancing asset in today's copper asset market.

My preferred copper play post GFC has been PNA, however I added a smaller amount of OZL to diversify my risks from Laos, and only after I established that Burgess was unlikely to go for foolish M&A. I believe OZL is currently a well run copper mining company, which is not to say that it is proving to be a good investment.

EL