In reference to this article:
http://news.smh.com.au/breaking-news-business/oz-minerals-steps-up-acquisition-hunt-20100729-10xdh.html
The first couple of paragraphs:
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Copper miner OZ Minerals Ltd continues to seek acquisition opportunities and has already made non-binding offers for projects.
Chief executive Terry Burgess says the company's business development team is "working around the clock" for potential purchases.
"We have looked at three to four projects in great detail including due diligence and in some cases we made non-binding offers," Mr Burgess told the Sydney Mining Club on Thursday.
"This is against a backdrop of many, many others that we have reviewed."
Mr Burgess said the company would like to add more copper assets to its portfolio, preferably those with near term production potential, giving OZ Minerals a second operation in addition to its flagship Prominent Hill mine in South Australia.
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Given GCR just announced (subjectively) in their quarterly report that:
"Investors ar reminded of Copper Hills' excellent location and infrastructure. It appears increasingly likely that Coppher Hill will be New South Wales' next big copper-gold mine." (page 1)
Anyone have any thoughts on whether GCR (or just the Copper Hill part) might be a target of OZ Minerals? Depends I guess on the definition on "near" in "near term production potential" (from the OZ quote) ? I wouldn't have thought it "near", but big businesses have different time frames I guess...
(It seems some other company's definition of "imminent" actually means in 12 months time, so "near" could be 3 years...!)
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