1st production 2008. Below is a bit of info on financing it from OH yesterday.
Prominent Hill will produce up to 100,000 tonnes of copper and 130,000 ounces of gold annually. The development involves a "super" pit about 1.4 kilometres long, 1.2 kilometres wide and 510 metres deep.
Booming metal prices and the impact that is having on the group's cash flow from its Laos copper/gold and West Australian base metals mines also mean Oxiana is planning to fund the development without calling on shareholders with a rights issue. It will also retain 100 per ownership.
Mr Hegarty said others had approached the company looking to take up part of the action, including potential copper concentrate customers and traders interested in long-term agreements with financing included.
"Financing is a big issue but it is not the biggest issue," Mr Hegarty said. With the cash that we've got in the bank and with the cash that is coming at us every day, we're in very good shape.
"Banks are lining up at the door to be involved in the financing because the project has got all of those seriously bankable, competitive fundamentals — it's in SA, it's high-grade, it's standard technology and customers are lining up at the front door now to take the concentrates. Financing won't be an issue."
Mr Hegarty said exploration in the surrounding region was a priority, with 15 Prominent Hill-style targets identified.
OXR
oxiana limited
