Whilst the proposed BHP expansion numbers seem grand re copper, CSIDER certainly has a point re the time to realise the benefits of the expansion.
In my opinion I can't see BHP committing $10B+ (estimates for expansion have grown to $20B in some quarters) in the current environment.....whilst the sentiment is positive and the strategy is to proceed I can't see it happening quickly.
What better way to supplement existing OD operations by adding a bolt on in the form of prominent hill. Whilst the numbers aren't big comparatively BHP gets a brand new operation cheaply, all the additional tennaments not even explored yet and can derive benefit from the proximity of the operation.
Might not happen, similarly Nuckelmore might not go with MM.
Whatever happens I hope all shareholders can realise some upside out of this mess, we've encountered too much BS for a lifetime in the space of 6 months.
OZL Price at posting:
$7.95 Sentiment: Hold Disclosure: Held
