"We needed a plan, a path, a vision, I have not seen this so far"
There is a plan, path and vision. It's called "Stick to the Knitting". It involves Prominent Hill and surrounds. The commencement of diamond drilling at the IMX Mt Woods JV project yesterday is consistent with this. Clear aim is to create a Tier 1 copper/gold cash cow asset in SA. Hard to fault OZL's 2010 performance on this count.
Sandfire Resources investment was opportunistic investment with possible future options.
Keeping US$1billion cash was prudent, not hedging it was a lousy decision. Hopefully lesson learned...... stick to knitting plus wise fiscal management. Latter point is something OZL was not previously familiar with.
OZL Price at posting:
$17.80 Sentiment: Hold Disclosure: Held
