Tag: OZL

OZ Minerals could spend a billion dollars or more on its huge Carrapateena underground copper-gold mine in South Australia as the miner continues to explore a potential block cave approach.

OZ Minerals surprised analysts with a lift in final dividend for the year to December despite a small dip in profit.

OZ Minerals lifted half year profit 59% in the six months to June 30 from a higher copper price and lower average production costs.

Shareholders in OZ Minerals will not miss out when the company reveals its interim financial results next month along with an updated capital management plan.

Copper miner OZ Minerals has launched a takeover bid for Avanco that values the ASX-listed exploration firm at $444 million.

Shares in copper and gold miner OZ Minerals rallied nicely yesterday after the company topped market estimates with a 72% higher $231.1 million underlying net after tax profit for the 2017 calendar year.

Shareholders in OZ Minerals can look forward to a stellar result next month after reporting very solid copper and especially gold production figures for the December quarter and 2017 year.

Oz Minerals says it has brought forward plans to close the open pit at its Prominent Hill mine in outback South Australia to the first quarter of next year from mid-2018 as work on its underground extension continues towards completion.

OZ Minerals is rolling the dice again with a big new mine development in South Australia that will cost close to $1 billion when finished.

On the face of it the latest quarterly report from Oz Minerals had good news – the company looks like its on track to meet this year’s guidance for gold and copper production, the company is well advanced on its expansion at its Prominent Hill mine in South Australia, work on the new mine at Carrapateena, also in the state, is well advanced, and the company lifted its cash holdings back past the $600 million mark.

Oz Minerals (OZL) says it plans to increase its focus on processing copper ore versus gold in the years ahead, betting on the continuation of better prices for an industrial metal than gold which seemed to be the earlier focus.

The $1 billion proposed Carrapateena copper and gold mine in South Australia has moved a step closer with OZ Minerals (OZL) releasing an updated assessment of its plans for the huge deposit.

Copper and gold miner OZ Minerals (OZL) will pay an unchanged interim dividend of 6 cents a share after reporting a solid profit for the six months to June.

OZ Minerals is on track to at least meet its production guidance for the full-year, maintaining the strong momentum in the March quarter from the closing months of last year.

OZ Minerals produced one of the surprise results of the December 31 reporting period, and as a result has rewarded shareholders with a higher final dividend and a higher payout for the year as a whole.

Oz Minerals (OZL) sprang a surprise yesterday with the news it plans to expand its underground output capacity by 30%.

Shares in OZ Minerals (OZL) leapt more than 6% yesterday after it produced a very strong production report for the 4th quarter and 2015.

OZ Minerals (OZL) has replied to the raid on its share register last week by the KKR private equity mob by proposing to spend $1 billion on a development at its huge copper and gold deposit at Carrapateena in outback South Australia.

OZ Minerals (OZL) shares surged more than 19% yesterday after a raid on its share register by KKR, one of the world’s biggest private equity companies.

Investors weren’t greatly impressed that OZ Minerals (OZL) has resumed dividend payments after posting a $51.8 million profit for the first six months of this year. Shareholders can thank a weakening Aussie dollar which offset softer global prices for gold and copper in the half.

Sometimes it doesn’t pay to tell the market that you did well production-wise in a quarter, especially if you are producing commodities that are on the nose – such as gold and copper.

A rather ‘ho-hum’ reaction from investors yesterday to OZ Minerals (OZL) long awaited revamp and results of its strategic review.

Shares in copper and gold miner OZ Minerals (OZL) shed 7% in value yesterday after the company beat market expectations by posting its first full-year profit in two years, but surprised by omitting a dividend.

Oz Minerals (OZL) beat its full year production guidance and with a new CEO in place, has launched a strategic review of its operations, according to its 4th quarter and full year production and sales report yesterday.

Upbeat news has been in something of a short supply lately for Oz Minerals (OZL), but yesterday it delivered something investors were happy to read – a strong operating performance for the three months to September which has left the company on track to meet its December 31, 2014 financial year guidance.

As expected, Oz Minerals (OZL) says it will need a partner or partners to develop its Carrapateena copper and gold prospect in South Australia.

Could OZ Minerals (OZL) be on the cusp of earnings normality?

Oz Minerals (OZL) yesterday revealed plans to boost copper production over the full year and lift waste removal operations – which saw the shares rise 18c to a day’s high of $4.49, before they turned lower and closed down 0.2% at $4.30. They had been as low as $4.215 during the early afternoon.

Confirmation yesterday that 2013 was a slow motion train wreck (financially speaking) at OZ Minerals (OZL) which saw a $294 million loss and the departure of the CEO, but a final dividend declared.

What a rotten Christmas present for those long suffering shareholders in OZ Minerals (OZL), which is now rivaling Newcrest Mining (NCM) as the bad news stock for mining investors for 2013.

On balance, it was probably only a matter of time before Oz Minerals (OZL) finally revealed some bad news in a quarterly production and exploration update this year. There’s been enough hints so far in 2013 that not all was right at the miner in a succession of statements, from previous quarterly reports to the AGM and then to the half year earnings release.

Another dodgy Australian takeover situation story from London on a Sunday that was not backed up by the facts.