re: Ann: IXR: IMX signs Heads of Agreement to... Patience Rad,...

re: Ann: IXR: IMX signs Heads of Agreement to... Patience Rad,

The quarterly may show some more drilling results from 'under the PH pit'; they may have extended the decline and started 'underground sourced drilling' by Dec 31.

And remember that the cash from a large quantity of copper sold in the first half was 'not credited in that half'. This will increase the 'normal profit' in the second half of 2013. And this will allow the payment of a larger dividend. If production and the Cu price remains 'on track' then there may be a 30 cent dividend paid by about April in 2014. (Plus, the dividend may be wholly or partly franked.)

There is a suggestion that there may be a 0.25% reduction in
'interest rates' in early Feb; after the RBA notes the inflation rate for the last quarter of 2013. As a 'value share', OZL may receive a small boost.

I am also quite happy for OZL to 'keep the cash', and I support HT's regarding the misery that followed the 'Oxiana Management' hubris. HC42