Oz Minerals' key focus is growth through the development of Carrapateena and acquisition of Avanco.
We raise our fair value estimate for no-moat-rated Oz Minerals marginally to AUD 8.00 from AUD 7.80 per share previously. The increase reflects higher near-term copper prices. We’ve also updated our model for the likely successful acquisition of Avanco Resources, incorporating the acquisition consideration and 100% of Avanco’s revenue and expenses from mid-2018. Oz Minerals owns 22% of the firm and the Avanco directors recommend the offer.We now forecast EBITDA of AUD 561 million in 2018, AUD ...
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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