Ann: OZ Minerals June 2013 Quarterly Presentation, page-9

re: Ann: OZ Minerals June 2013 Quarterly Pres... I would urge a little more caution than that:

Firstly I reckon the quarterly reported accounts are opaque at best. So opaque it looks like things are being hidden. For example what was the revenue? That is a pretty important number and I am very surprised it isn't there. Secondly total production costs does not include head office admin or exploration so the total costs of US$3.56/lb could be higher at a company level against a current copper price of US$3.16/lb. A reasonable estimate you could make is looking at the closing cash balance, in the year 2011 it was $886M and in 2012 it was $659M (see 2012 Annual Accounts). They did pay $224.7M in dividends and share buy-backs but nevertheless cash went down by $227M. This was in a year with no pit wall failures, higher copper price (~US$3.50/lb) and substantially higher gold prices.

In summary I suspect money is going out the door fast. The short sellers could really hurt this one.