Still a very profitable cash generating operation with current commodity prices despite cost increases.
The fear right now will be where to from here with Copper price and what happens in the wider global economy.
Cu has held up in all of the depths of greece, spain euro fear this year and remains OK with recent china slowdown fear Cu is still 3.35+.
Stocks at LME and COMEX are fairly low along with reasonable price indicating fairly healthy demand and production side shortage.
Global production and yield of Copper will have medium term challenges holding up the price as good projects are hard to find.
OZL is a bargain now because the shorters have had their way. On fundamentals long term investors could be happy now with jumping into OZL. Short term might be more downside but M&A could change that! :)
OZL Price at posting:
$6.87 Sentiment: Buy Disclosure: Held
