broker from ig gave target $2.25 today, page-41

I agree with Horsetrader that OZL financial capability to develop Carrapateena by themselves is a question mark that needs answering.

However, it is clear to me that Carrapateena will be developed, and the surrounding tenements are beginning to show promising results, that will only firm up the case IMO.

If OZL needs a JV to get there, then so be it, provided they negotiate well.

I have no issue with the purchase of the tunnel borer - it is the most economical path to reaching a deep resource, and once again, I have no doubt that it will be used.
The excerpt below is from the OZL web site blurb on Carrapateena

A key part of the feasibility study will be the development of an exploration decline to allow in-situ geotechnical characterisation to be carried out for finalisation of the mine design. The decline will become a
permanent access to the mine and will be used for early development activities once a decision to proceed with full development is made.
OZ Minerals has been granted a Retention Lease over the Carrapateena project area by the South Australian regulator for the purpose of building the exploration decline and other associated infrastructure.
The exploration decline will be developed on a slope of 1 in 6.5 to a depth of 1,000 metres below surface using a Tunnel Boring Machine
(TBM). The TBM is currently subject to a remanufacturing program being undertaken by The Robbins Company (TRC), the original equipment manufacturer. The remanufactured TBM and back up gantries are nearing completion and are due for delivery into Australia in the first quarter of
2014.
The exploration decline is expected to be approximately 6,500 metres in length and a finished diameter of 5.8 metres with the TBM work to stop at the first production level of the two level block cave mine.

OZL has taken some serious criticisms on this forum. They are playing the long game, and we have all been burnt in the process - but I still rate their management team, regardless of opposing positions taken by others here.

IF they are not taken over cheaply in the short term, I believe they will deliver.