re: Ann: OZ Minerals 2009 Half Year Report (i... With a loss of...

re: Ann: OZ Minerals 2009 Half Year Report (i... With a loss of the 1/2 year of $585.6m, we should not expect the full year results to be positive. P Hill will generate about $240m to $400m profit for the year but will not turn the $585m to a profit.

On the balance sheet, accumulated losses are at $2.7B. It will take to the end of 2013 to wipe this out, based on P Hill profit and copper at $3/lb and 100,000tpa of production. Obviously if copper rises to $4 and we invest the cash in creating additional profit, this timeframe could reduce.

Are we likely to see a dividend soon? No.
Are we likely to see capital management? No.

Until the accumulated losses are removed, IMO, shareholders can only look to sp capital growth.

Comments pls

HT1