Oz Minerals Delivers Small Enhancements to Carrapateena with Prefeasibility Study
We raise our fair value estimate from AUD 4.00 to AUD 4.20 per share following the release of the Carrapateena prefeasibility study. Improvements on the original scoping study primarily stem from reduced dilution from mining. The upside is the mining of higher average grades over the life of the mine. This drives an increase in the average annual production rate to 61,000 tonnes of copper and 63,000 ounces of gold versus 53,000 tonnes and 53,000 ounces, respectively, in the scoping study. The do...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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