Operational performance looks good, overall result looks okay...

Operational performance looks good, overall result looks okay considering how terrible copper prices have been this half.

If you strip out forex and unrealised effects, it seems they almost broke even for the half year. Considering their realised price was $2.49 that is a good result compared to previous years where it was in the vicinity of $2.90 breakeven, now it's probably around $2.60.

At the current copper price (~$2.90) they should actually be generating a proper, full-cycle profit now, after depreciation, finance costs and admin. Still need copper prices to be sustained above $3 to really generate any sort of distributable profit or to fund Eva.

But that's out of their hands, so let's hope they can keep this sort of operational performance going.