Hi Phil,
Yeah, I’m sure I’m being too hard on our AVB management on this particular matter, as the fault no doubt lies with HC systems.
It just made me laugh when (with all that has been going on with AVB and OZL announcements recently) I found that the link to the original incorrect scoping study started working again on HC once the correct scoping study went up today and the TH was lifted.
Anyway, a minor distraction to the main game of watching and waiting to see how this TO offer from OZL plays out, and whether a competing offer (hopefully) comes from left field.
Whilst we wait, if I may, a story you and others might relate to....
Like you, I hold both companies, and those long-term HC’ers will probably know I’ve held OZL since they were OXR and Owen Hegarty was macheting his way through the Laos rainforest to start selling his famous “Stronger for Longer... Forever” sales pitch.
Ahhh, those were days, and OXR was a true multi-bagger that should have seen me happily retired and annoying my local PGA professional several times a week about 12 years ago.
Property purchases, business investments, greed (let’s be honest), the GFC and the disastrous OXR/ZFX merger meant I never quite got my OXR exit timing right (Grrrr!), so I tossed my OZL holding in the bottom drawer about 10 years ago and set about trying to find my next OXR-like multi-bagger, with a determination to get my exit timing right the second time around.
A few years back I happened across a diamond in the rough in the form of AVB, and was convinced this was my long sought after OXR mark II. So I bought in, and continued to average down whenever I could (which was more often than was probably healthy) just like I did all those years ago with OXR.
Smarter and wiser these days (or so I thought) I was determined not to get my exit timing wrong this time around, and as our AVB assets grew, the Antas mine came on line and our pipeline of projects expanded beyond PB to Centro and then Pantera, I was convinced I had made the right call.
And what happens? Bloody OZL swoops in a pulls the rug out from under me again, or so it seems at the moment. Grrrr! I simply can’t believe it, really!!
Again like you Phil, I’ll do ok out of the OZL offer if that is the only offer that comes to pass, but, that offer is well short of where I expected to be selling out of this share. I am absolutely gutted, again.
So that’s my story, and please excuse the long post, but I’m sure it’s a story shared in whole or in part by many AVB holders here on HC, unfortunately. I feel like I’ve dropped down a wormhole and popped out where I was ten years ago.
OZL will do well out of the AVB assets should they get them, obviously, and so you, me and all OZL holders will also do well, but just no where near as well as we might have done as AVB holders if AVB had been left to follow its own non-BR influenced story.
And finally, to round this story out, as much as OWen Hegarty is seemingly hated by current OZL holders (rightly or wrongly), I would have given anything to have someone like him on the AVB board selling the AVB story over the past few years. Our current situation and value would have been much, much better, of that I am absolutely sure.
Regards, GJC.
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