Avanco Acquisition Adds Growth but Is Value Neutral for Oz Minerals. FVE Maintained
The agreed AUD 418 million acquisition of ASX-listed copper and gold producer, Avanco Resources, is an interesting move for no-moat-rated Oz Minerals. The acquisition brings one small operating copper and gold mine in Brazil, an undeveloped copper/gold resource, and an undeveloped gold resource. All assets are 100% owned. In addition, Avanco also has the option to acquire 100% of a further copper/gold resource from Vale. Collectively, the assets host resources containing 1.0 million tonnes of co...OZ Minerals is a mining company engaged in exploring for, developing and operating copper, gold and base metal projects. It owns the Prominent Hill copper-gold mine and Carrapateena copper-gold project, both located in South Australia. Co.'s operating segments are: Prominent Hill, which comprised of mining copper, gold and silver from the Prominent Hill Mine; Carrapateena, which comprised of exploration and evaluation associated with the Carrapateena project; Exploration and Development, which comprised of exploration and evaluation activities associated with the other projects and include interests and joint ventures with Minotaur and Toro Energy Ltd, and Corporate Development activities.
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