Professional’s Pick – OZ Minerals (OZL)

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We initiated our position in May 2014 post operational improvements over two successive quarters, and conducting further site based due diligence at Prominent Hill copper/gold mine, located 130km SE of Coober Pedy in NW South Australia.In January 2016, we increased our OZL position to become our largest Materials exposure, a timely move, taking advantage of the sector’s rally over the last six months. On our recent site visit, we pleasingly witnessed progress on the second underground decline access development; key to enabling more efficient ore development and mining.Furthermore, we obtained further insight into key development project – 100% owned Carapateena copper/gold, located 250km SE of Prominent Hill, and the commerciality benefits of linking both operations to a larger, centralised concentrate treatment process (CTP) at Whyalla.

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