From the Australian and Fin Review last week
"OZ Minerals is on the hunt for a big brother to pick up the running on a $3 billion development of its Carrapateena copper/gold deposit in South Australia, with the likely sale of a minimum 50 per cent stake in the project tipped to fetch between $300 million and $500m and sharply reduce OZ's forward capital commitments."
Such a deal would:
• Add $300 to $500 M of cash to the OZL balance sheet, resulting in cash + liquid assets (i.e SFR) in the order of $800 to $1000M. This would enable OZL to acquire a third project.
• Improve the implied value for the Carrapateena Project as the sale price would give a benchmark and the transaction would significantly improve the likelihood of the project being developed in the near term.
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- burgess to sell controlling interest
From the Australian and Fin Review last week"OZ Minerals is on...
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