oz $ v us$, page-27

Thanks boys, I think I have worked it out.

On slide 99, it shows an estimated forex loss for the year of $aud 125M - made up of $59m realised and $66m paper loss.

My take on the strategy is
a) aim to stay in copper and gold
b) P Hill u/g expansion to realise an extra 45ktpa of Copper for 6 or 7 years
c) a clearly defined aquisition strategy of Copper mines between 50ktpa and 150ktpa
d) aim to be a banker for the copper exploration companies BUT the resource needs to be large i.e. min 250mt at 1% Copper. i.e. OZL is not in the business of buying small operations.
e) sounds like they are staying out of Africa

Some things that appear to be missing
a) 2.3m tonnes of gold ore on the pad at P Hill as well as the Gold resource area - what is happening with that?
b) a time line would have been nice for Cambodia.

Overall,
Based on my model, expansion at P Hill generates a new NPV for the shares of approx $1.33 per share (assuming no terminal value - i.e. mine production ceases at 2018) Assuming terminal value, NPV sp = $2.45

HT1