It is however pretty irrelevant to the Carapateena project. C should be spinning off cash from the end of this year, and that initial project will fully fund it’s expansion. AC has in fact made the point that the capex on the initial C project will be fully recovered before any major expense on it’s expansion.
I am not knocking the Brazil aquisition, just withholding judgement and noting such deals often simply don’t stack up well in hindsight.
OZL is in the fortunate position of having reasonable optionality as to where to reinvest it’s substantial cashflow.
EL
OZL Price at posting:
$10.29 Sentiment: Buy Disclosure: Held
