OZL 1.26% $14.86 oz minerals limited

buying rios assets

  1. 13,594 Posts.
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    at one stage ozl looked like it was in such a strong position that it could buy other assets

    it had $1.2bn in the bank, low gearing (d/e of 36%, from memory) and cash flow from projects

    people were wondering what projects we could take over...mgx, pdn..should we be in bulks or energy

    soone mentioned waiting around to buy rios assets

    here is an article about that
    Asset spin-off plan on table
    Date 13/11/2008
    Author Michael Vaughan
    Source The Australian Financial Review --- Page: 24
    BHP Billiton is considering a plan to spin-off iron ore assets into a new group.This would be an effort on BHP's part to appease European regulatorsconcerned about the mining firm's plans to acquire Rio Tinto, and wouldconstitute an alternative to selling the assets to diversified miners

    anyway that has all changed now

    All we are concerned about is if the cash will cover the debts, which projects are cash flow positive , the idea of taking on more debt has gone out the window and the big question is will we survive

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