Tropic, I?m with you in thinking that the market would appreciate a more defined growth path. There is a reasonable probability that PH regional exploration will not yield favourable results (though I do support the exploration spend as a discovery would be truly significant for OZL). ATM, in the absence of exploration success at PH, OZL has no real growth prospects, just battling to extend mine life at current production rates. I think the SP would benefit from a more diversified and de-risked growth profile. However, we don?t want to overpay or purchase a lemon, so we can only trust that management is doing its job in regards to capital management and diligence on acquisitions and JVs. I support managements actions to date, but am of the belief that OZL should either make a significant acquisition or return some cash to shareholders in the next 6 to 12 months.
OZL Price at posting:
$16.30 Sentiment: None Disclosure: Held
