We Raise our Oz Minerals FVE to AUD 6.40 per Share as Carrapateena Improves
We raise our fair value estimate for no-moat-rated Oz Minerals 8% to AUD 6.40 per share. The increase primarily reflects improvements to the base-case development plan for the Carrapateena mine with release of the final feasibility study. The main change from the prefeasibility study was exclusion of the proposed concentrator treatment plant from the project. Its removal saves AUD 150 million of capital expenditure. Management is now confident it can produce a concentrate sufficiently low in ura...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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