OZL - Oz Minerals
- Thread starter LeeTV
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Well, I bet that the board blooming well recommend it because they get off scot-free ! Anyhow, watch the bidding war, might flush out some other parties ?
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I am really surprised that BHP has sat idly by through out this whole crisis and hasn't acquired anyone. Not much point dumping the RIO offer to pursue other opportunities and then not pursue them!
bigdog
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What is your expected opening price tomorrow?
At least 825 cents!
OZL could be cheap takeover for BHP!
OZL had $2 billion in the bank in June and now OZ Minerals’ equity at approximately $2.6billion. They also had the loans now due for repayment
-- AM has really screwed things up; bring back Owen H
ASX ANN
16-02-2009 06:15 PM OZL Trading Suspension Lifted
16 FEBRUARY 2009
ASX Release Lifting of Suspension
OZ Minerals wishes to advise that suspension of trading in the Company’s shares will be lifted by the ASX tomorrow, Tuesday 17 February, 2009.
The Company confirms that it is in compliance with its continuous disclosure obligations.
At least 825 cents!
OZL could be cheap takeover for BHP!
OZL had $2 billion in the bank in June and now OZ Minerals’ equity at approximately $2.6billion. They also had the loans now due for repayment
-- AM has really screwed things up; bring back Owen H
ASX ANN
16-02-2009 06:15 PM OZL Trading Suspension Lifted
16 FEBRUARY 2009
ASX Release Lifting of Suspension
OZ Minerals wishes to advise that suspension of trading in the Company’s shares will be lifted by the ASX tomorrow, Tuesday 17 February, 2009.
The Company confirms that it is in compliance with its continuous disclosure obligations.
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Aspect Huntley Research has an intrinsic value of $1.15. If this value is accurate then Minmetals is getting a very good deal, if it goes through, with copper, nickel and zinc close to their lows. My feeling is that BHP wouldn't want to buy its nickel and zinc interests just its copper & gold.
Why would a trading suspension remain at 4.15pm then lifted at 6.15pm?
Why would a trading suspension remain at 4.15pm then lifted at 6.15pm?
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Just allowing the insto's their off-market trades to re-balance prior to the inevitable pre-open auction scramble by the common clod
So_Cynical
The Contrarian Averager
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The Chinese communist party is buying our #3 diversified miner for 2.6 Billion....an absolute
bargain in US dollar terms, perhaps this is the start of the Chinese switching out of USD
assets (bonds/dollars) into real assets.
Amazing.
bargain in US dollar terms, perhaps this is the start of the Chinese switching out of USD
assets (bonds/dollars) into real assets.
Amazing.
bigdog
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Just allowing the insto's their off-market trades to re-balance prior to the inevitable pre-open auction scramble by the common clod
The last 10 trades (of total 17) today were this morning
-- there were no other trades after closing today
-- the other seven Exercise Putl low volume trades
Date………... Time....... Price Qty... Value ($).. Conditions
16/02/2009 7:06 AM $1.20 5000 $6,000.00 Exercise Putl
16/02/2009 7:06 AM $1.20 12000 $14,400.00 Exercise Putl
16/02/2009 7:06 AM $1.20 7000 $8,400.00 Exercise Putl
16/02/2009 7:06 AM $1.20 9000 $10,800.00 Exercise Putl
16/02/2009 7:06 AM $1.20 39000 $46,800.00 Exercise Putl
16/02/2009 7:06 AM $1.10 13000 $14,300.00 Exercise Putl
16/02/2009 7:06 AM $1.10 4000 $4,400.00 Exercise Putl
16/02/2009 7:06 AM $1.10 6000 $6,600.00 Exercise Putl
16/02/2009 7:06 AM $1.10 116000 $127,600.00 Exercise Putl,Crossed
16/02/2009 7:06 AM $1.00 6000 $6,000.00 Exercise Putl
bigdog
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OZ Minerals has recommended a $2.6 billion takeover offer from Chinese trading company Minmetals
It is a fraction of the $12 billion combined market capitalisation when Oxiana and Zinifex announced their merger deal almost a year ago.
Can someone please explain the difference!
wa business news reported:
http://www.wabusinessnews.com.au/en-story.php?/1/70456/OZ-rescue-adds-to-Swan-s-headaches/dba
OZ rescue adds to Swan's headaches
16-February-09 by Mark Pownall - Comment
A Chinese white knight for Oz Minerals may give stressed shareholders some relief but it will only add to the mounting pressure on federal Treasurer Wayne Swan who has the final word on foreign investment.
Mr Swan already had the massive Rio Tinto deal to cast his eye over before Oz announced today's $2.6 billion offer by China's Minmetals.
While that might be a healthy-looking 50 per cent premium to the share price when Oz last traded, it is a fraction of the $12 billion combined market capitalisation when Oxiana and Zinifex announced their merger deal almost a year ago.
On Thursday, mining giant Rio Tinto has sold minority interests in some of its most valuable assets, including iron ore miner Hamersely Iron, to Chinese group Chinalco as part of a transformational US$19.5 billion deal.
Because of Rio's dual listed status and the importance of its assets in Australia - including the Pilbara iron ore company Hamersely Iron in which Chinalco will take a direct stake for US$5.15 billion - the deal will need to be approved by the federal government.
These are the latest in a string of deals that have seen Chinese entities take strategic holdings in a raft of mining companies, including Gindalbie Metals, Mt Gibson Iron, Grange Resources and Perilya.
There is also the growing greenfield interests of groups such as Citic Pacific which is investing $5 billion in an iron project near Cape Preston.
While Chinese investment is coming off a low base compared to other leading nation's such as the US and Japan, the psuedo-state nature of China's corporations has caused jitters in Australia long before the market down-turn made our resources attractive at firesale prices.
Mr Swan will have to make some hard choices.
The unexpected plunge in global markets has made capital a rare commodity and the Chinese appear to one of the few nations that remains willing to spend. By buying mines and resources companies it could be argued it is saving Australian jobs and giving beleagured investors some return on their investment.
But that largesse is because of the strategic importance of our resources and there are fears that, when markets rebound, Chinese ownership will influence prices and future investment decision-making.
Whatever the case, the global financial crisis is forcing a rethink of many aspects of the way governments act, from fiscal policy to foreign investment.
Xenophobia over jobs has already political pressure in places like the UK and Australia needs to be careful how it treats foreign investors, especially ones representing a huge customer and regional powerhouse like China.
Market purists believe that foreign investment controls are the wrong way to control such issues, and that existing laws such as state agreements, mining and exploration covenants and transfer pricing rules already provide enough sticks to manage a foreign owner.
However, market economics is on the nose right now and no-one likes to see the farm sold off, be it to China or anyone else. Your call Mr Swan.
It is a fraction of the $12 billion combined market capitalisation when Oxiana and Zinifex announced their merger deal almost a year ago.
Can someone please explain the difference!
wa business news reported:
http://www.wabusinessnews.com.au/en-story.php?/1/70456/OZ-rescue-adds-to-Swan-s-headaches/dba
OZ rescue adds to Swan's headaches
16-February-09 by Mark Pownall - Comment
A Chinese white knight for Oz Minerals may give stressed shareholders some relief but it will only add to the mounting pressure on federal Treasurer Wayne Swan who has the final word on foreign investment.
Mr Swan already had the massive Rio Tinto deal to cast his eye over before Oz announced today's $2.6 billion offer by China's Minmetals.
While that might be a healthy-looking 50 per cent premium to the share price when Oz last traded, it is a fraction of the $12 billion combined market capitalisation when Oxiana and Zinifex announced their merger deal almost a year ago.
On Thursday, mining giant Rio Tinto has sold minority interests in some of its most valuable assets, including iron ore miner Hamersely Iron, to Chinese group Chinalco as part of a transformational US$19.5 billion deal.
Because of Rio's dual listed status and the importance of its assets in Australia - including the Pilbara iron ore company Hamersely Iron in which Chinalco will take a direct stake for US$5.15 billion - the deal will need to be approved by the federal government.
These are the latest in a string of deals that have seen Chinese entities take strategic holdings in a raft of mining companies, including Gindalbie Metals, Mt Gibson Iron, Grange Resources and Perilya.
There is also the growing greenfield interests of groups such as Citic Pacific which is investing $5 billion in an iron project near Cape Preston.
While Chinese investment is coming off a low base compared to other leading nation's such as the US and Japan, the psuedo-state nature of China's corporations has caused jitters in Australia long before the market down-turn made our resources attractive at firesale prices.
Mr Swan will have to make some hard choices.
The unexpected plunge in global markets has made capital a rare commodity and the Chinese appear to one of the few nations that remains willing to spend. By buying mines and resources companies it could be argued it is saving Australian jobs and giving beleagured investors some return on their investment.
But that largesse is because of the strategic importance of our resources and there are fears that, when markets rebound, Chinese ownership will influence prices and future investment decision-making.
Whatever the case, the global financial crisis is forcing a rethink of many aspects of the way governments act, from fiscal policy to foreign investment.
Xenophobia over jobs has already political pressure in places like the UK and Australia needs to be careful how it treats foreign investors, especially ones representing a huge customer and regional powerhouse like China.
Market purists believe that foreign investment controls are the wrong way to control such issues, and that existing laws such as state agreements, mining and exploration covenants and transfer pricing rules already provide enough sticks to manage a foreign owner.
However, market economics is on the nose right now and no-one likes to see the farm sold off, be it to China or anyone else. Your call Mr Swan.
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I with you thunderer. Not only does this keep resources aus owned, it would also help BHP in the long term.
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Guys
It is not a winnable match for us in OZL
Why we are loosing a sure win match. OZL was so strong and suddenly collapsed.
OUr economy was so strong and we sucked the Chinese with high premium on iron ores thinking the people from China just because they can not speak English like us, were fools.
Now Me Speak No English people have come back with all their hidden tricks and buying us off at a throw away price.
If Mr Rudd and company at least joins hands with private (good ones) industries and try to stop Chinese or any foreign invasion one after other our future is gone.
Restricting foreign ownership will be Short term pain but long term gain.
Look at OZL RIO, Citic Pacific and many others are just coming to be snared by very clever Chinese Business. We taught everything to foreign students in our universities when our children preferred to go to TAFE or just to earn short term money become tradies leaving schools at year 10.
Chinese will be followed by Indian companies - just wait and see. Uranium Coal Indians are slowly snaring. Look at IPL cricket and not Incitec how we got sold to India.
Our teaching to people outside our Land and our children's lack of interest in studying in universities has become weapon against us
Sorry for digression but if share holders from companies like OZL do not wake up and Government starts(by owning major share holding first) by challenging the short time operators Australia will be sold off for business to China and India.
It is not a winnable match for us in OZL
Why we are loosing a sure win match. OZL was so strong and suddenly collapsed.
OUr economy was so strong and we sucked the Chinese with high premium on iron ores thinking the people from China just because they can not speak English like us, were fools.
Now Me Speak No English people have come back with all their hidden tricks and buying us off at a throw away price.
If Mr Rudd and company at least joins hands with private (good ones) industries and try to stop Chinese or any foreign invasion one after other our future is gone.
Restricting foreign ownership will be Short term pain but long term gain.
Look at OZL RIO, Citic Pacific and many others are just coming to be snared by very clever Chinese Business. We taught everything to foreign students in our universities when our children preferred to go to TAFE or just to earn short term money become tradies leaving schools at year 10.
Chinese will be followed by Indian companies - just wait and see. Uranium Coal Indians are slowly snaring. Look at IPL cricket and not Incitec how we got sold to India.
Our teaching to people outside our Land and our children's lack of interest in studying in universities has become weapon against us
Sorry for digression but if share holders from companies like OZL do not wake up and Government starts(by owning major share holding first) by challenging the short time operators Australia will be sold off for business to China and India.
bigdog
Retired many years ago
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share price up today after trade resumed
high of 0.73
OZL 0.685 +0.135 +24.55% high of 0.73 87,347,308 shares $61,582,828 @ 17-Feb 10:32:47 AM
high of 0.73
OZL 0.685 +0.135 +24.55% high of 0.73 87,347,308 shares $61,582,828 @ 17-Feb 10:32:47 AM
I can't disagree with any of today's postings re OZL.
I certainly have been burnt with Allco and also Babcock & Brown, but it's with OZL that I am most shocked and disappointed at how they've performed over the last 6 months.
Like many I guess, I was sucked in by their propaganda especially after the OXR-ZFX merger and believed their hype that they were becoming a truly great Aussie world player.
Maybe the fact that a number of their assets are located outside Australia may make the federal government's approval of the Chinese deal a little easier.
But most of all I'm shocked at the disappointing offer of just 82.5 cents which OZL seems to have gratefully grabbed with both hands.
I certainly have been burnt with Allco and also Babcock & Brown, but it's with OZL that I am most shocked and disappointed at how they've performed over the last 6 months.
Like many I guess, I was sucked in by their propaganda especially after the OXR-ZFX merger and believed their hype that they were becoming a truly great Aussie world player.
Maybe the fact that a number of their assets are located outside Australia may make the federal government's approval of the Chinese deal a little easier.
But most of all I'm shocked at the disappointing offer of just 82.5 cents which OZL seems to have gratefully grabbed with both hands.
bigdog
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IMO, I predict that there will another takeover offer that perhaps involves ZFX in the background!!
OZL would be a cheap buy!
Current share price 67 cents at 12:58 PM
OZL would be a cheap buy!
Current share price 67 cents at 12:58 PM
But how could that be, ZFX was made defunct by the OXR-ZFX merger? Do you know something we don't know?
