Hi all,
My take on the half yearly financial results is tha it is steady as she goes. No real surprises axcept the way the market has reacted. I think OZL has been oversold.
No surprises that profit was down due to events such as settlement of litigation, currency exchange rates, increased exploration etc. A bit disappointed dividends is only 30 cents per share but it still represents a 5% return on capital which is not bad given potential upside.
Still have a sizable war chest, and a little surprised but not concerned re the credit facilty OZL are looking at. I hope OZL stay away from having to take out loans.
OZL is still a pretty safe bet. Speculators may get better returns elsewhere, but they may also get worse in this period of uncertainty.
Some scurrilous reporting I feel. I note on the same day one headline read "OZL profits down 72%" and another read "Slater & Gordon report 40% profit growth". I would not be allowed to type what I think of this.
Regards to all
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