They are copper miner's not fund managers, They should be buying mines and digging up copper not hoarding cash, Its the time cost of money, There are plenty of companies on the asx with a shitload of cash waiting to do something with it and not much else going on, Their share prices are woeful because shareholders dont want to have to wait an undisclosed perios of time to get any of it.
As Ive said before and will say again, This company has falling into the cyclical trap of over investing high and selling low, now it looks like they will wait and buy high again. Tragic and self destructive invesotr behaviour that has lost us a LOT of money.
OZL Price at posting:
$6.80 Sentiment: ST Buy Disclosure: Held