1. Copper target for the year will be achieved 2. Gold target will not - has been downrated by approx 30,000oz 3. C1 cash costs were good and < 70c for the year will be achieved 4. Ankata is on schedule for ore in Q1 2012. Capital cost up a little due to change in scope. The P Hill original plan had copper tonnage of 80ktpa for 2 years. Ankata will maintain 100 to 110. 5. C1 will trend up next year due to a) Ankata b) labour costs c) carbon tax 6. Carrapateena is 4 or 5 months ahead of schedule on drilling. 7. Mine profit was $200m for the qtr
My thoughts
Steady as she goes - no real surprises. In mining, it takes a long long time for things to progress.
HT1
OZL Price at posting:
$11.61 Sentiment: Hold Disclosure: Held
