carrapateena copper project write off, page-5

Hi all,
Been a bit quiet on the OZL thread lately. Nice of Byron to start a discussion (NOT).!!!!

Well answered Ville. For $250, C was an absolute steal.!!!

Rod,
You are absolutely correct. C is not without risk, but then again, mining is not without risk. OZL got a resource for a very good price. A poster made the comment that OZL bought C AND the surrounding tenements. The prospects of the exploration area were also quite good. The poster indicated that OZL could find something near the surface and close to C, bring that to production and then develop C. The optionality available to OZL is, IMO, a great growth story for the company. The comment was also made that OZL now has large areas of the Gawler Craton in their exploration portfolio.

Qtly comes out in 11 days time. Expect reduced Copper for the qtr as grades decline, compared to last qtr and YOY. This has been made known to the market. Until Ankata gets to production later this year, this story will not change much. What will be interesting will be the commentary on the drilling. I find that the webcast is always well worth listening to in this regard.

HT1