If OZL conduct themselves in Brazil the same way they approached the TO it will become difficult for them, no matter how much Brazilian gold and copper in the resouce. I noticed AC singing the praises of the local culture in that find-and-replace next project tender CEO kind of way on the Sky interview when he said "...the culture in Brazil is really fantastic, it's a very community minded culture and it's very similar to the Avanco culture that they've built through time and in fact the Avanco culture is very similar to the Oz Minerals culture which is why we're very supportive of keeping the management team and the Avanco organisational structure and people in place ..."
...I don't think the Brazilian culture is the same as the Avanco culture and OZL culture which is to hide a corporate takeover for 3 years and then collude with a large mining fund to suppress the TO cost. Do OZL holders really think that BR aren't going to get a royalty deal on Centro + Pantera after all that big big love?
...he said culture like it was a hairball he was clearing from his throat.... don't augur well young fella...
"...We've built a very good relationship with Tony and his team in country..." ...I'm sure you did. He's a country member.
So my >3 hopefully 4 to 5x multiple is gone - I expected to flog the lot after Avanco smuggled the start of the Centro build and a Pantera DFS through at softly softly state level. The BR cap and OZL opportunistically tearing me a new one after the calculated risk rings the corporate alarm bells for me. I won't mention my analysis of Brazilian politics and the possible ramifications for legislative and tax changes with populist governments because someones head might explode - I'm lookin' at you baby face... we like to hold our cards close to the chest at Area 51. Safe to say the eyes have swung hard onto this now... GLTAH. Go Brazil.
Add to My Watchlist
What is My Watchlist?
