carapateena pfs bfs and mine schedule, page-10

Hugeorgans I appreciate your advice .I suspect most of the world's biggest new copper deposits are block cave simply because new open cuts aren't been found ! This makes me very nervous simply because ,when things get tough, companies need to be well managed or it's curtains. IMO OZL haven't been as successful as they should have been. In the boom years of 2009 - 2013 OZL should provided for the down times better than they did. Lets face it any outfit could have mined the P.H.open cut at a profit. In 2010 ,for example, annual production run at over 112,00tcu and 196,00ozau putting OZL in the first quartile of global copper producers! Grades in the open cut run in excess of 1%cu with good au credits.Prices for cu and au were at records. Now things are different , the open cut's life is ending ,and it appears that OZL have recognised that they may have messed up on mining the remnants of the resource. Not a good omen for when things get tough. The move into SFR has been the only redeeming feature,I suspect they haven't interfered with that investment which IMO is just as well. I seriously doubt that Carrapateena will come up trumps (0.8%cu plus au credits) for an U.G. mine ,even one well managed, doesn't thrill me. Could the big C have been a panic buy at a time when they had more money than sense. Probably not. I appreciate our head honcho buying a few shares in the open market every now and then, must be something to do with "capital management initiatives" Everything I have written is rubbish don't take it seriously We need the $au to collapse ,good luck to all .