with resource values at $7.50 you'd be crazy to take $2.02
the first bid might be $2.02
but that would be rejected for sure.
with the second largest zinc mine in the world, century, plus one of the best gold and copper projects in australia prominent Hill, Avebury as well as $1.2 bn cash a lot of other companies would be interested.
the chinese were already involved in Avebury. Interestingly it took 10 years to get Avebury to where it is now.
Prominent Hill is about to go into production.
It is so ripe for the picking. A takeover is inevitable.
OZL Price at posting:
$13.40 Sentiment: None Disclosure: Held