OZL - Oz Minerals
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Nyden
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As legs said - metals were down. As is gold...
No reason for it to go up really IMO - everyone already knows about PH; so it's obviously already factored into the price; therefore I doubt there's any medium-term gain on this one (aside from trading the roller coaster)
Play with dogs, gonna get bitten ... sorry guys
No reason for it to go up really IMO - everyone already knows about PH; so it's obviously already factored into the price; therefore I doubt there's any medium-term gain on this one (aside from trading the roller coaster)
Play with dogs, gonna get bitten ... sorry guys
The price of zinc has been falling on falling demand for zinc from China presumably.
The table on this website appears to indicate that demand might actually be rising.
http://www.chinamining.org/Statistics/2008-06-27/1214498424d14675.html
The table on this website appears to indicate that demand might actually be rising.
http://www.chinamining.org/Statistics/2008-06-27/1214498424d14675.html
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OZ Minerals Says Chinese May Be Interested in Company (Update2)
http://www.bloomberg.com/apps/news?pid=20601081&sid=aNJEWMR8khVw&refer=australia
OZ Minerals 'a foreign takeover target'
http://news.smh.com.au/national/oz-minerals-a-foreign-takeover-target-20080804-3prg.html
i disclose holdings
http://www.bloomberg.com/apps/news?pid=20601081&sid=aNJEWMR8khVw&refer=australia
OZ Minerals 'a foreign takeover target'
http://news.smh.com.au/national/oz-minerals-a-foreign-takeover-target-20080804-3prg.html
i disclose holdings
I am not suprised oxr now ozl has slid as far as it has. There was massive support around $2.5o ish that got broken, so that brought in the short sellers.
Then seeing as ZFX was also a top 50 company and so was OXR big super funds probly owned both stock. So once the company merged they more than likely were forced to sell there holdings to balance up.
Along with OXR buying the negative ZInc assets which has been a poor performer on the spot price.
Put this all together with falling metal prices and of course the OZL is going to come unde pressure.
I am just commenting on what I see has happened.
What the future holds is a good question, but we know that value comes through in the end once sentiment turns, and in my opinion prominent hill should deliver value.
Take over talk is always speculative but you would have to think that they are under the microscope at these levels as they are a diversified company.
Then seeing as ZFX was also a top 50 company and so was OXR big super funds probly owned both stock. So once the company merged they more than likely were forced to sell there holdings to balance up.
Along with OXR buying the negative ZInc assets which has been a poor performer on the spot price.
Put this all together with falling metal prices and of course the OZL is going to come unde pressure.
I am just commenting on what I see has happened.
What the future holds is a good question, but we know that value comes through in the end once sentiment turns, and in my opinion prominent hill should deliver value.
Take over talk is always speculative but you would have to think that they are under the microscope at these levels as they are a diversified company.
Sean K
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Yeah, I agree. Not sure who has the size to take them. BHP and RIO are obviously busy with other things. Xstrata has just announced a 10b offer for Lonmin. What's Vale up to? I read somewhere they were looking for copper and coal to add on. Maybe Freeport? Anglo American? Just all plucks obviously.
The problem is that companies are not after diversified base metal plays at the moment, they’d much prefer to pick up single assets or single commodity companies of their liking. Plus everyone seems to be staying well away from anything related to zinc at the moment, which makes a takeover of OZL more unlikely given they have a substantial inventory of the metal. 
Knobby22
Mmmmmm 2nd breakfast
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The problem is that companies are not after diversified base metal plays at the moment, they’d much prefer to pick up single assets or single commodity companies of their liking. Plus everyone seems to be staying well away from anything related to zinc at the moment, which makes a takeover of OZL more unlikely given they have a substantial inventory of the metal.
I think one of the main reasons they are being sold down is that international investors are getting out of Aussie stocks due to the dollar fall.
I am a long term holder and am upset with the price at present but you cannot sell at this level as now that OZL is cashed up it will be able to pick up some bargains at present prices and so has the ability to grow to the next level.
Where did you get those metal quotes if you don't mind me asking? Also, I've struggled to find iron ore prices when I've searched in the past.
http://www.news.com.au/business/markets/
Is a great web page now with alot of info right there at your hands...
OZL must be a disappointment for many investors. Surely it has reached a bottom. In it's current report it makes very little mention of the nickel from the AGM take over by ZFX. The ex holders of ZFX must be wondering what went wrong or is it that ZFX went wrong. I've been sitting on the sidelines watching and looking for an opportunity to shift my investment in MCR (which hasn't been doing too good either) into OZL. With the drop in OZL with heavy selling today and the rise in MCR due to a good profit report I have switched most of my MCR into OZL. I'll continue to look for opportunities to trade back and forth between those two to increase my holding without further outlay of capital.
Looks to me like there was alot of buying leading into the result because of a potential buyback. Well guess what? They have categorically said that they intend to grow through acquisition. Sorry shareholders, no buyback. Shareprice smashed!
The stupid thing is, if they initiated a large ($2Bill) buyback (which they can afford), the share price would rocket. With the share price alot higher this would give them much greater scope for acquistions. Paying precious cash for an acquisition target right now seems stupid. Especially if they have to launch a takeover bid with premiums etc.
The only conclusion I can come to by them not initiating a buyback, is that they actually are close to announcing some large acquistion. What is going to happen to the share price then if they over pay?
Overall, I am disappointed with management so far and hold fears that it might take alot longer to turn around this sinking ship than first thought.
(I hold OZL but not sure for how long!)
The stupid thing is, if they initiated a large ($2Bill) buyback (which they can afford), the share price would rocket. With the share price alot higher this would give them much greater scope for acquistions. Paying precious cash for an acquisition target right now seems stupid. Especially if they have to launch a takeover bid with premiums etc.
The only conclusion I can come to by them not initiating a buyback, is that they actually are close to announcing some large acquistion. What is going to happen to the share price then if they over pay?
Overall, I am disappointed with management so far and hold fears that it might take alot longer to turn around this sinking ship than first thought.
(I hold OZL but not sure for how long!)
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Did anyone else notice this massive trade at 4:12pm this afternoon?
Time Price Volume Value Condition
04:12:45M 1.803 3,300,000 5,949,900.00 XTOS
Time Price Volume Value Condition
04:12:45
M 1.803 3,300,000 5,949,900.00 XTOSDid anyone else notice this massive trade at 4:12pm this afternoon?
Time Price Volume Value Condition
04:12:45
Chicken feed cross trade. Doesn't mean much. Saw one last year for OXR that was $80mil from memory...........
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well feel free to throw some chicken-feed my way any day :
Gav
:Gav
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hopefully these guys will pick up, not a lot of positive
news to play with at present, do wish i had sold my zinifex shares
over the 20 dollar mark though...
jonny
news to play with at present, do wish i had sold my zinifex shares
over the 20 dollar mark though...
jonny
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Looks like OZL is starting a consolidation phase after the extended downtrend. Reasonably positive price activity Ex div however that appears to be as much market-driven than by design. Problem is IVs are dropping for the option players as the price stabilises.
Please explain what IVs are?
I invested at $10.40 a share before the merger. I am quite disappointed and can relate to the other guy.
I will be holding on for the long term with this stock as I think it can turn in the medium term as it has proved in the past!
I invested at $10.40 a share before the merger. I am quite disappointed and can relate to the other guy.
I will be holding on for the long term with this stock as I think it can turn in the medium term as it has proved in the past!
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well, for the last three weeks this one has always made a comeback to finish at or above $1.80 by the end of the week. This week it bucked the trend and finished the week at $1.75...
Interesting trade shown for OZL this morning in preopen time. 2,323,391 for the sum of $8,433,723. That equates to an average price of $3.60 plus. Someone is carring a decent loss on these today. Maybe they were transferred to a super fund at a good price, who knows what the story is behind that trade or trades.
