unfortunately one thing PH is running out of is time. a change in ore type and a decrease in ore grade and the mill will need all of its newly found 10Mt/a capacity to make less and less copper.
more gold is not the answer there is a limit to the gold ore that can be added to the mill feed.
underground is not the answer - at best this will give a couple of tonnes per hour to the mill.
any exploration win will be at least 3 years to develop and there have been none to-date and none within sight. by the time the next PH is found the mill will be treating mullock.
the company cannot survive on one operation.
our favorite chairman cusack bought TB in for two reasons: to rebuild the reputation (done - big tick) and to build the business through an acquisition or two (a year and a half lost). the big hype and the reason TB was bought in from anglo was because of his BD background.
OZL Price at posting:
$17.50 Sentiment: Hold Disclosure: Held
