ceo for a year., page-20

On p 32 of the AFR today is 1 1/2 page spread on OZL with the heading

"OZL hoses down rumours of SFR buy"

Here are some extracts

"Mr Burgess appeared to rule OZL out of a t/o offer. "SFR is a really good project but it has the same sort of mine life as P Hill" TB said "So if we bought SFR, something people have speculated we might be thinking about doing - then all we do is duplicate what we've got with regards to P Hill, and we face the same sort of challenges there unless there is a potential for expansion or an extension of mine life."

"Ideally we would look for something that would be in production in 2014-15 which would be a cover between P Hill (if we didn't find anything and the C start-up."

"OZL is seeking a copper acquisition with ideally "10 to 15 years of mine life"

"OZL had done some "serious work" on various one-time targets over recent years such as Citadel Resource, Inmet Mining and Lundin Mining."

"We are comfortable that there's nothing out there that's been sold that we've thought 'we wish we'd bought that' or we'd missed anything"

Ville, C1 for P Hill this year is still very low. Yes, they are going from 70c to $1.05. This is still better than PNA, and (if my memory serves me correctly) on a par with some of BHP's and RIO Tier 1 copper assets.

I am just really glad that TB has not done an IGO. That would be disastrous to the sp.

HT1