Like many I hold both ZFX and OXR shares. I think ZFX has more upside potential at present.
According to the AFR a few weeks back OXR approached ZFX regarding merger talks again, but was declined. Apparently OXR wants too much management control for ZFX's liking. They have had talks before. This could prompt OXR to turn hostile I guess. Personally i don't think ZFX wants OXR. I think other copper/gold plays represent better value at present. CDU included. ZFX's MD (AM) is very experienced ex WMC exec who knows the game backwards.
I agree BHP and Xstrata are too busy in existing taekover moves to launch a takeover of ZFX, so it's all about OXR and who ZFX wants to acquire.
AM has stated publicly recently he wants ZFX portfolio to comprise 30% copper. So any acquisition of a Copper company should I guess reflect that??
ZFX
zinifex limited
