The quarterly report should be interesting as it will contain maiden production figures from Prominent Hill operations. Here are some exerts from Coober Pedy Regional Times dated 26 February 2009 Oz Minerals PH operations delivered its first Copper/Gold concentrates. Revenue from PH will begin to accrue at end of current quarter (31/3/09) and escalate as production rates and sales increase. In the initial shipment of PH concentrates was 50% pure copper.It mentions the shipping destinations as well as local road haulage. It also mentions the extension of the mine with high grade ore assays.
Maybe this extension will be good and a copy of the Coober Pedy Times should be read by these bankers . This is not a two bit company and in time these banks would be paid out in full and would be looking to reinvest in a succesful company. If we can just satisfy the banks a while longer then it is possible OZ can trade out of this situation.
OZL Price at posting:
$5.90 Sentiment: Hold Disclosure: Held
