at what sp is ozl a buy?, page-22

I understand that PH has a mine life - but doesn't every mine have a finite life.

The question is what cash can they generate in the remaining mine life and how they propose to use the future cash generated to give some return to holders and also to exploit the potential of Carapateena and Khamsin projects. By 2014/15 PH will be in the good dirt again making cash (subject to commodity prices and exchange rates).

Carapateena is a large deposit albeit it has risk because no PFS, BFS, Finance yet - that is where a partner or M&A would come in. A larger entity with larger asset base and lower risk profile will find finance easier.