Ann: Havilah-BHP Kalkaroo Work Program Update, page-31

The B in BHP does not stand for benevolent. Neither is BHP altruistic.

If BHP had not liked what it saw at Kalkaroo i.e. if it didn't meet BHP's investment criteria, it would have walked away from the Kalkaroo Option months ago.

For the time being at least, Kalkaroo demonstrates that established copper producers like BHP (and before it, OZ Minerals Limited) value undeveloped copper resources with some scale to them at much higher levels than the market has been.

Based on the ASX release, it would appear there are multiple opportunities to increase the resource base and/or economics at Kalkaroo that could potentially add significant value to Kalkaroo and so enhance its development attractiveness.


Note: BHP is funding a Study Program to aid in determining whether to exercise the Kalkaroo Option during the Kalkaroo Option period (expires on 10 May 2024, if not exercised earlier or further extended).

So, the Kalkaroo Option has another 9 months (274 days) to run.


Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.