MX, I view the MM deal as a good outcome. OZL is left with a Tier 2 asset (not yet Tier 1 due to current mine life of 10 years). It has sold a lot of Tier 3 assets, has no debt and Aud $980M in the bank. It may be a one trick pony again, but it is certainly a nice looking thoroughbred. The optionality it now has is astounding.
It was hell for a while, but there is sunshine now.
Shold I buy PNA? Let me think about it for a while and do some more number crunching. The qtly prod report and the results will provide some more data.
My current concern is the C1 cash cost and the grade.
HT1
PNA Price at posting:
$1.85 Sentiment: None Disclosure: Not Held
