Why is Oz Minerals (OZL) rallying today?
This morning, OZL rejected an unsolicited, conditional and non-binding indicative takeover proposal of $25.00 per share in cash from BHP.
BHP has bid $25 for OZL with a higher bid clearly anticipated with the stock trading 6% above the Big Australian’s first salvo, the question we ask (again) today is where does the best risk/reward lie for an Australian copper play:
Read MoreThis morning, OZL rejected an unsolicited, conditional and non-binding indicative takeover proposal of $25.00 per share in cash from BHP.
OZL -3.80%: Confession session is underway for the miners and today saw another production downgrade leading to an increase in unit costs.
OZL -2.89%: Production numbers out today that came in at the bottom end of the guided range for Copper
OZL +6.53%: posted FY21 and June quarter production numbers today and they were strong in a number of respects.
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