OZ Minerals Ltd (ASX: OZL) - Production Of Copper And Gold At Prominent Hill And Antas In Q3 2018 Meets The Expectation As Per FY18 Guidance Report

October 17, 2018 11:20 AM AEDT | By Team Kalkine Media
 OZ Minerals Ltd (ASX: OZL) - Production Of Copper And Gold At Prominent Hill And Antas In Q3 2018 Meets The Expectation As Per FY18 Guidance Report

OZ Minerals (ASX:OZL) is happy to announce the third quarter report for the period ending 30 September 2018. The company has shared the details of the production and cost of the mineral metal produced at Prominent Hill and Antas. At the Prominent Hill, the production in Q1 2018 for the total copper was 27,466 tonnes. In Q2 the production was 27,131 tonnes and in Q3 the total copper produced at the Prominent Hill amounted to 28,915 tonnes. As of now, the total production till date is 83,512 tonnes and it can be expected that by the end of the year the production of the copper will be within the range of the FY2018 guidance. Antas has produced copper in the third quarter only. Â

Thus, the total production from Antas to date is 3,004 tonnes. As a result, the total copper production from both the regions till date is 86,516 tonnes. The production of gold at the Prominent Hill in Q1 was 30,873 ounces. In Q2, the gold production at Prominent Hill was 28,121 ounces. The Q3 production of gold was 34,143 ounces. The total production of gold from the Prominent Hill till date is 93,137 ounces. Antas has produced gold in Q3 only. Thus, the total production of gold from Antas comes to be 2,458 ounces. The total gold production from two regions is 95,595 ounces. It can be expected that by the end of the year the total gold production will be in the range of the FY2018 guidance report. The total C1 cash cost for both the regions i.e. Antas and Prominent Hill comes around US 82.2 cents/lb which is within the range of the FY2018 guidance report. The All-in sustaining cost comes around US 121.5 cents/lb from both regions. There is a positive progress in the assets and the projects of the company in the third quarter. It is expected that the copper production at the Prominent Hill will reach the top end of the copper production guidance report of FY2018 and in the lower end of All-in sustainable cost guidance report as a result of its consistent and reliable performance since past 4 years. At the end of the Q3, the cash balance available with the company was $454 million. Trade receivable got reduced in late Q2. Due to the timing of shipment, there was an increase in the concentrate inventory. As a result of progression in the Carrapateena project, the trade payables have gone up. A total of $160 million of investment has been made in the Carrapateena project; and cash position is decent post the dividend payments of $26 million.

The performance of the company throughout its journey is -24.34%. The YTD performance of the company is -2.61%. the one year and the 5 years’ performance of the company is 9.67% and 131.52%. The current market price of the company is A$ 9.02 with a market capitalization of A$2.89 billion and PE ratio 9.62x. If we see the chart, the moving average convergence and divergence line (MACD line) is moving below the signal line. However, the MACD line is now tending to move in the upward direction.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.