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OZ Minerals Limited (OZL) Report Analysis

Corporate Events

Neutral

OZ Minerals Limited Provides Production Guidanc...

2022-06-26 23:39:00

OZ Minerals Limited provided production guidance for the fiscal year 2022. For the year, the company expects total copper production in the ra...

Neutral

Havilah Resources Limited Signs Conditional Bin...

2022-05-16 22:59:00

Havilah Resources Limited announced that it has signed a conditional binding Terms Sheet with OZ Minerals Limited in relation to a Proposed Tr...

Positive

Resolution Minerals Ltd Announces the Execution...

2022-05-12 23:13:00

Resolution Minerals Ltd. announced the execution of a significant, multi-year farm-in and joint venture agreement with copper focussed mid-tie...

Positive

Resolution Minerals Limited Announces the Execu...

2022-05-12 23:13:00

Resolution Minerals Limited announced the execution of a significant, multi-year farm-in agreement with copper focussed mid-tier mining compan...

Neutral

OZ Minerals Limited, Q1 2022 Earnings Call, Apr...

2022-04-12 04:16:00

OZ Minerals Limited, Q1 2022 Earnings Call, Apr 22, 2022

Neutral

OZ Minerals Limited to Report Q1, 2022 Results ...

2022-04-12 04:16:00

OZ Minerals Limited announced that they will report Q1, 2022 results on Apr 22, 2022

Positive

OZ Minerals Decides to Increase Hoisting Shaft ...

2022-04-03 22:33:00

OZ Minerals Limited announced the decision to increase the hoisting shaft capacity under construction at Prominent Hill from 6Mtpa to 6.5Mtpa....

Neutral

OZ Minerals Limited, Annual General Meeting, Ap...

2022-02-10 01:29:00

OZ Minerals Limited, Annual General Meeting, Apr 08, 2022, at 10:00 AUS Central Standard Time. Location: Company's Head Office at 2 Hamra Driv...

Neutral

OZ Minerals Limited - Shareholder/Analyst Call

2022-02-09 22:13:00

Annual General Meeting

Positive

Breakaway Resources Pty Ltd. agreed to acquire ...

2021-12-09 00:00:00

Breakaway Resources Pty Ltd. agreed to acquire remaining 80% stake in Jericho project and remaining 70% stake in Eloise project from OZ Minera...

Positive

OZ Minerals Farms-In to $10 Million JV at Peake...

2021-11-30 22:23:00

Minotaur Exploration Limited and OZ Minerals Limited have established a farm-in joint venture over Minotaur's extensive exploration tenement g...

Positive

Oz Minerals Limited and Resolution Minerals Ltd...

2021-10-24 22:03:00

Resolution Minerals Ltd. announced the completion Due Diligence and the commencement of the 2-years Initial Period with a $1.6m minimum spend....

Neutral

OZ Minerals Limited Provides Production Guidanc...

2021-10-19 23:01:00

OZ Minerals Limited provided production guidance for the year 2021. Full year copper production is tracking in line with guidance. At Prominen...

Neutral

OZ Minerals Limited Presents at 13th Annual Aus...

2021-10-09 01:00:00

OZ Minerals Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-14-2021 12:15 PM. Speakers: Andrew Cole, M...

Positive

Oz Minerals Limited Announces Coherent Em Condu...

2021-09-13 23:07:00

OZ Minerals, through the Breena Plains Alliance, is farming-in to the Breena Plains +1,200km tenement package adjacent the Eloise and Jericho ...

Negative

OZ Minerals’s Operations Resume at Prominent Hill

2021-09-07 00:02:00

OZ Minerals’s operations at Prominent Hill mine are progressively resuming following temporary suspension of work on Sunday afternoon due to t...

Neutral

Citigroup Inc., 13th Annual Australia & New Zea...

2021-08-24 16:47:00

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021. The Citi Australia & New Ze...

Positive

Resolution Minerals Limited Significant Farm-In...

2021-08-23 22:40:00

Resolution Minerals Ltd. announce the execution of a significant, multi-year farm-in and joint venture agreement with copper focussed mid-tier...

Positive

OZ Minerals Limited, 0.08 (AUD), Cash Dividend,...

2021-08-20 00:00:00

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

Positive

OZ Minerals Limited, 0.08 (AUD), Cash Dividend,...

2021-08-18 00:00:00

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

Positive

OZ Minerals Limited Announces Promising Explora...

2021-08-17 22:37:00

OZ Minerals Limited announced that Encouraging assay results have been received from two shallow and independent copper mineralisation targets...

Positive

Oz Minerals Approves Construction of A Hoisting...

2021-08-17 22:33:00

OZ Minerals Board approved construction of a hoisting shaft at the Prominent Hill copper gold mine which will extend the mine life to 2036 at ...

Positive

OZ Minerals Limited Announces Fully Franked Ord...

2021-08-17 22:32:00

OZ Minerals Limited announced fully franked ordinary distribution of AUD 0.160 per security for the six months ended June 30, 2021. Ex date is...

Neutral

South Australian Chamber of Mines and Energy., ...

2021-07-08 00:00:00

South Australian Chamber of Mines and Energy., Copper to the World Conference 2021, Aug 31, 2021. Venue: Adelaide Convention Centre, Adelaide,...

Neutral

OZ Minerals Limited Presents at Copper to the W...

2021-07-07 19:31:00

OZ Minerals Limited Presents at Copper to the World Conference 2021, Aug-31-2021 . Venue: Adelaide Convention Centre, Adelaide, Australia.

Neutral

OZ Minerals Limited Provides Production Guidance for the Fiscal Year 2022

2022-06-26 23:39:00

OZ Minerals Limited provided production guidance for the fiscal year 2022. For the year, the company expects total copper production in the range of 120,000 tonnes to 135,000 tonnes and total gold production in the range of 208,000 ounces to 230,000 ounces.

Neutral

Havilah Resources Limited Signs Conditional Binding Terms Sheet with Oz Minerals Limited

2022-05-16 22:59:00

Havilah Resources Limited announced that it has signed a conditional binding Terms Sheet with OZ Minerals Limited in relation to a Proposed Transaction comprising an 18 month option to purchase Kalkaroo (Kalkaroo Option) and for a Strategic Alliance in the copper-rich Curnamona Province of northeastern South Australia. The basis is Havilah's large prospective tenement holding and previous exploration success in the region, combined with the accelerated funding and mining development expertise of OZ Minerals. OZ Minerals plans to conduct a Study Program on Kalkaroo over a period of up to 18 months that will focus on confirming and expanding existing mineral resources, optimising the project scale and value, and will include testing innovative approaches across the value chain applying OZ Minerals Modern Mining approach. The results will determine whether OZ Minerals proceeds with purchase of Kalkaroo for $205 million. OZ Minerals may elect to not exercise the Kalkaroo Option at any time during the Option and Alliance Period provided 5,000 metres has been drilled or a Shortfall Payment (metres not drilled multiplied by $400) is paid to Havilah. The Proposed Transaction provides for a deferred contingent consideration of $65 million upon a 30% uplift in Kalkaroo's current Measured and Indicated Resource estimate. There is also an additional copper price linked contingent payment in each year of production up to a maximum cumulative amount of $135 million that would be indexed to CPI Australia. Under the Strategic Alliance up to $9 million would be directed towards exploring copper targets within Havilah's surrounding highly prospective Curnamona Copperbelt over the next 18 months. This funding would allow Havilah to mount a major exploration campaign on numerous promising copper prospects that it has identified on its more than 12,000 km2 Area of Interest tenement holding Havilah has evaluated many possibilities for development of Kalkaroo and the Board believes the terms negotiated with OZ Minerals offer the best opportunity to date for Havilah shareholders to potentially realise fair value for the project. The Strategic Alliance provides Havilah with the financial means to intensively explore its Curnamona Province tenements for new copper deposits that would be complementary to, and supportive of, a new mining development at Kalkaroo. The Mutooroo copper-cobalt-gold project and the associated surrounding tenements are excluded fromthe Strategic Alliance, as are Havilah's iron ore and uranium interests. These projects will continue to be progressively advanced by Havilah with the balance of the funding to be provided by OZ Minerals (up to $9 million over 18 months).

Positive

Resolution Minerals Ltd Announces the Execution of a Significant, Multi-Year Farm-In and Joint Venture Agreement with OZ Minerals Limited

2022-05-12 23:13:00

Resolution Minerals Ltd. announced the execution of a significant, multi-year farm-in and joint venture agreement with copper focussed mid-tier mining company, OZ Minerals Limited. The agreement will allow RML and OZL to fast-track the search for copper discoveries on Resolution's Benmara Project (Project), located in the South Nicholson Basin in the Northern Territory. OZ Minerals is a modern mining company that's focused on creating value for all its stakeholders. As one of Australia's copper producers, OZ Minerals owns and operates the Prominent Hill and Carrapateena mines in South Australia. Collaboratively, OZ Minerals and Resolution have a strong commitment to safety.

Positive

Resolution Minerals Limited Announces the Execution of a Significant, Multi-Year Farm-In Agreement OZ Minerals Limited

2022-05-12 23:13:00

Resolution Minerals Limited announced the execution of a significant, multi-year farm-in agreement with copper focussed mid-tier mining company, OZ Minerals Limited. The agreement will allow RML and OZL to fast-track the search for copper discoveries on Resolution's Benmara Project (Project), located in the South Nicholson Basin in the Northern Territory. OZ Minerals is a modern mining company that's focused on creating value for all its stakeholders. As one of Australia's copper producers, OZ Minerals owns and operates the Prominent Hill and Carrapateena mines in South Australia. Collaboratively, OZ Minerals and Resolution have a strong commitment to safety. Under the Agreement, OZL can earn from Xavier up to a 75% legal and beneficial interest in the mineral exploration tenements, EL31287, EL32228, EL32229, EL32849, EL32850, EL32883 and EL33059 (Benmara Project or Tenements), in the Northern Territory. To earn a 51% interest in the Benmara Project OZL is required to undertake exploration activities of $1 million over an initial 2-year period (Minimum Commitment) a further $3.0 million expenditure over a 3-year period (Stage 1) which includes a $250,000 reimbursement for the Cedar Tenements acquisition costs. A formal joint venture agreement (in line with industry standard terms) may be formed from the point that OZL earns a 51% interest in the Project. If OZL doesn't spend $4 million within the 5-year period (to end of Stage 1), Resolution retains a 100% interest. Resolution can elect to contribute at 49% interest (initial JV formed) or 25% interest following Positive Financial Investment Decision (PFID). If OZL elects to discontinue sole funding after having reached a 51% interest, OZL transfers 2% interest to RML for $1, and RML becomes the 51% owner and manager with OZL diluting. To earn a 75% interest in the Benmara Project, OZL must expend at least $1 million per year over a further 5-year period to PFID. If either party's interest dilutes to below 10% that party's interest converts to a 2% NSR. OZL can accelerate earning to any milestone by meeting the expenditure requirements early. Over-spend in any stage is carried forward to the next stage.

Neutral

OZ Minerals Limited, Q1 2022 Earnings Call, Apr 22, 2022

2022-04-12 04:16:00

OZ Minerals Limited, Q1 2022 Earnings Call, Apr 22, 2022

Neutral

OZ Minerals Limited to Report Q1, 2022 Results on Apr 22, 2022

2022-04-12 04:16:00

OZ Minerals Limited announced that they will report Q1, 2022 results on Apr 22, 2022

Positive

OZ Minerals Decides to Increase Hoisting Shaft Capacity At Prominent Hill

2022-04-03 22:33:00

OZ Minerals Limited announced the decision to increase the hoisting shaft capacity under construction at Prominent Hill from 6Mtpa to 6.5Mtpa. The Wira Shaft mine expansion project was approved in August 2021 with works well progressed and scheduled for completion in 2024. Project optimisation works identified the opportunity to increase the hoisting shaft capacity by ~8% to 6.5Mtpa for an additional ~$2 million with the increased capital to be absorbed within the approved $600 million budget.

Neutral

OZ Minerals Limited, Annual General Meeting, Apr 08, 2022

2022-02-10 01:29:00

OZ Minerals Limited, Annual General Meeting, Apr 08, 2022, at 10:00 AUS Central Standard Time. Location: Company's Head Office at 2 Hamra Drive Adelaide Airport, South Australia Adelaide Australia Agenda: To receive and consider the Financial Report of the company for the year ended 31 December 2021 together with the Directors' Report and Auditor's Report as set out in the 2021 Annual and Sustainability Report; to elect and re-elect directors; to adopt remuneration report; to issue long term incentive grant of performance rights to Mr. Andrew Cole; and to issue short term incentive grant of performance rights to Mr. Andrew Cole.

Neutral

OZ Minerals Limited - Shareholder/Analyst Call

2022-02-09 22:13:00

Annual General Meeting

Positive

Breakaway Resources Pty Ltd. agreed to acquire remaining 80% stake in Jericho project and remaining 70% stake in Eloise project from OZ Minerals Limited (ASX:OZL) for AUD 21.6 million.

2021-12-09 00:00:00

Breakaway Resources Pty Ltd. agreed to acquire remaining 80% stake in Jericho project and remaining 70% stake in Eloise project from OZ Minerals Limited (ASX:OZL) for AUD 21.6 million on December 9, 2021. As per the transaction, Breakaway Resources Pty Ltd. will pay AUD 0.48 million non-refundable deposit, AUD 6.1 million payable on an IPO by Breakaway Resources Pty Ltd., up to AUD 12.3 million based upon per pound of copper derived from the Eloise and/or Jericho Joint Venture areas and AUD 2.8 million upon publication or completion of a positive pre-feasibility study. The transaction is subject to Breakaway Resources Pty Ltd. completing its Initial Public Offer and approval by regulatory authorities.

Positive

OZ Minerals Farms-In to $10 Million JV at Peake and Denison

2021-11-30 22:23:00

Minotaur Exploration Limited and OZ Minerals Limited have established a farm-in joint venture over Minotaur's extensive exploration tenement group at the Peake and Denison project in South Australia. The area, located 750km NNW of Adelaide, is a first-mover exploration opportunity to search for new base metals discoveries in a considerably under-explored portion of South Australia, on the edge of the Gawler Craton. The Peake and Denison JV requires OZ Minerals to invest $869,300 on exploration in the first year (Minimum Commitment for the Initial Period). Thereafter OZ Minerals may earn an initial 51% tenement interest by sole funding $4 million (including the Minimum Commitment) through the next 3-year period (Stage 1). OZ Minerals may then earn an additional 19% interest for the further expenditure of $6 million over the subsequent 3 years (Stage 2). Thus, to attain its maximum interest of 70% over 7 years OZ Minerals must invest $10 million.

Positive

Oz Minerals Limited and Resolution Minerals Ltd Announce the Completion Due Diligence and the Commencement of the 2-Years Initial Period with A $1.6 Million Minimum Spend

2021-10-24 22:03:00

Resolution Minerals Ltd. announced the completion Due Diligence and the commencement of the 2-years Initial Period with a $1.6m minimum spend. The agreement will allow RML and OZ Minerals Limited to fast-track the search for copper discoveries on Resolution's Wollogorang Project (Project), located in the McArthur Basin in the Northern Territory. OZ Minerals is a modern mining company that's focused on creating value for all its stakeholders. As one of Australia's large copper producers, OZ Minerals owns and operates the Prominent Hill and Carrapateena mines in South Australia. Collaboratively OZ Minerals and Resolution have a strong commitment to safety. OZ Minerals Limited has advised Resolution Minerals Ltd. of successful completion of due diligence on the Farm-in and JV agreement on the Wollogorang Copper Project in the Northern Territory, Australia. OZL can earn a 51% interest by spending $4.9 million over 5 years. RML may retain 49% interest by electing to participate from year 6. If RML elects not to participate, OZL has the option to earn a 75% interest, by sole-funding and delivering a Positive Final Investment Decision to Mine Detailed planning, technical collaboration, drill targeting and permitting is ongoing Heritage surveys and track building prior to an extensive drilling program is planned for the 2022 dry season (May-November).

Neutral

OZ Minerals Limited Provides Production Guidance for the Year 2021

2021-10-19 23:01:00

OZ Minerals Limited provided production guidance for the year 2021. Full year copper production is tracking in line with guidance. At Prominent Hill, copper and gold production is expected to be at the top end of our updated guided range with higher-than-expected coal grades in stockpiles resulting in a further increase to annual gold production guidance.

Neutral

OZ Minerals Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-14-2021 12:15 PM

2021-10-09 01:00:00

OZ Minerals Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-14-2021 12:15 PM. Speakers: Andrew Cole, MD, CEO & Director.

Positive

Oz Minerals Limited Announces Coherent Em Conductor Identified At Breena Plains

2021-09-13 23:07:00

OZ Minerals, through the Breena Plains Alliance, is farming-in to the Breena Plains +1,200km tenement package adjacent the Eloise and Jericho joint venture tenements. Breena Plains is the subject of a recent acquisition by Minotaur1 where, at completion, full ownership will reside with Minotaur. The Alliance's funding arrangements and earn-in phases are detailed below. Minotaur's role is to conceive and develop exploration targets and manage program delivery. The Alliance has been seeking Cannington style and Eloise/Jericho style polymetallic base metals mineral systems within the broader JV project area using deep-penetrating SQUID EM geophysical techniques. A new basement interpretation geology model published by Karen Connors2 from the Sustainable Minerals interpreted D2-age thrusts (faults) transect favourable stratigraphy. Minotaur views D2-age faults as key to mineralisation at the Jericho Cu-Au deposit, 30km north, discovered by Minotaur under the Eloise JV with OZ Minerals in 2017, using systematic ground EM surveys along a favourable fault corridor. EM surveys were recently completed over the Murphy's Tank and Garnet Creek areas, targeting Eloise/Jericho Cu-Au style mineralisation. The Garnet Creek survey yielded 3 conductive anomalies. has modelled plate conductivity thickness values ranging 1,000-5,500 Siemens and depth extents in excess of 500m. conductor lies immediately adjacent and parallel to an interpreted D2 thrust cutting the interpreted Mount Norna Quartzite, the same stratigraphic unit hosting Jericho. The anomaly is covered by younger sediments, however historic drilling in the general area (none into the anomaly), indicates the cover is likely less than 30m thick. The Gap is a compelling drill target and will initially be investigated with up to 5 x 200m RC drill holes. D2 thrust position and is 3km long, generally has lower conductance than The Gap and an historical drill hole indicates the presence of graphitic basement rocks could be the source of this anomaly. Similarly at Bond, the conductance of the EM plate model is only modest and an adjacent historic drill hole intersected graphite. However, that hole reported a 2m zone containing 2.4% Zn. Both Maxwells and Bond conductors will be assessed for further attention. Minotaur is preparing for a maiden drill program to investigate The Gap EM target. Landholder meetings and NT Clearances are being arranged, with drilling anticipated in October-November.

Negative

OZ Minerals’s Operations Resume at Prominent Hill

2021-09-07 00:02:00

OZ Minerals’s operations at Prominent Hill mine are progressively resuming following temporary suspension of work on Sunday afternoon due to the fatal injury of a Byrnecut employee working underground. Staggered resumption of surface operations began on Monday (6 September 2021) afternoon and, following discussions with crews, underground operations are progressively resuming. Department of Energy and Mining and SafeWork SA approved resumption of operations on Monday morning. OZ Minerals and Byrnecut are providing support to the family of the deceased and offering employee assistance support for the workforce across all sites.

Neutral

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021

2021-08-24 16:47:00

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021. The Citi Australia & New Zealand Investment Conference is the largest Australasian conference for influential ideas and actionable advice, attracting over 1000 investors, fund managers, CFOs and CEOs from Australia, New Zealand and around the globe. Throughout the two-day conference, attendees discuss issues affecting major markets and hear insights from policy makers, economists, political leaders and CEOs of some of Australia’s most enterprising corporations.

Positive

Resolution Minerals Limited Significant Farm-In Agreement with Oz Minerals Wollogorang Project, Northern Territory, Australia

2021-08-23 22:40:00

Resolution Minerals Ltd. announce the execution of a significant, multi-year farm-in and joint venture agreement with copper focussed mid-tier mining company, OZ Minerals Limited. The agreement will allow RML and OZL to fast-track the search for copper discoveries on Resolution's Wollogorang Project, located in the McArthur Basin in the Northern Territory. OZ Minerals is a modern mining company that's focused on creating value for all its stakeholders. As one of Australia's largest copper producers, OZ Minerals owns and operates the Prominent Hill and Carrapateena mines in South Australia. Collaboratively OZ Minerals and Resolution have a strong commitment to safety. Resolution's approach is to use modern geophysics to identify large scale sediment-hosted stratiform copper mineralisation within two McArthur Basin Formations. Both Formations contain reductive units, which are prospective trap sites for sediment-hosted stratiform copper mineralisation. Previous explorers focussed on discrete breccia pipes, such as the Stanton Cobalt Deposit, which demonstrated the presence of copper and cobalt in the system. However, these breccia pipes are not of sufficient scale to warrant further attention on RML's tenements currently. Resolution recently completed a ~2,000 line-kilometre airborne VTEM geophysics survey on the eastern half of the project and identified 40 conductors, 37 untested by drilling. VTEM surveys can detect sub-surface conductive bodies to 400m such as massive base metal sulfides directly and other potential trap sites for base metals. The 40 conductors identified, have been ranked on the VTEM geophysics characteristics on a scale from 1 to 3. Combining the VTEM results with a new litho-structural interpretation will allow Resolution to rank the geophysical results against geological context and logistical considerations. It is highly likely further drill targets will be refined from this ongoing interpretation of the VTEM results in collaboration with OZL. The company intends to update investors once this has been completed. Resolution Minerals Ltd, through its wholly owned subsidiary, Mangrove Resources Pty Ltd, entered into a binding Heads of Agreement - Farm-in and Joint Venture - Wollogorang Project with OZ Exploration Pty Ltd, a wholly owned subsidiary of OZ Minerals Ltd. Under the Agreement, OZL can earn from Mangrove up to a seventy-five per cent legal and beneficial interest in the mineral exploration tenements, EL30496, EL30590, EL31272, EL31546, EL31548, EL31549 and EL31550, in the Northern Territory. To earn a 51% interest in the Wollogorang Project OZL is required to undertake exploration activities of $1.6m over an initial 2-year period, a further $3.0m expenditure over a 3-year period as well as paying Resolution $0.3m for the VTEM survey undertaken by the Company in mid-2021. A formal joint venture agreement may be formed from the point that OZL earns a 51% interest in the Project. If OZL doesn't spend $4.9m within the 5-year period, Resolution retains a 100% interest. Resolution can elect to contribute at 49% interest or 25% interest following Positive Financial Investment Decision. If OZL elects to discontinue sole funding after having reached a 51% interest, OZL transfers 2% interest to RML for $1, and RML becomes the 51% owner and manager with OZL diluting. To earn a 75% interest in the Wollogorang Project, OZL must expend at least $1m per year over a further 5-year period to PFID. If either party's interest dilutes to below 10% that party's interest converts to a 2% NSR. OZL can accelerate earning to any milestone by meeting the expenditure requirements early. Over-spend in any stage is carried forward to the next stage.

Positive

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

2021-08-20 00:00:00

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

Positive

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

2021-08-18 00:00:00

OZ Minerals Limited, 0.08 (AUD), Cash Dividend, Aug-23-2021

Positive

OZ Minerals Limited Announces Promising Exploration Results from Two Shallow and Independent Copper Mineralisation Targets At Prominent Hill

2021-08-17 22:37:00

OZ Minerals Limited announced that Encouraging assay results have been received from two shallow and independent copper mineralisation targets at Prominent Hill. The target areas are between 100m and 600m below surface and lie in proximity to the existing Malu open pit. `Walawuru', is a steeply north-dipping fault-controlled zone to the west of the open pit. `Papa', is a north-westerly striking envelope of mineralisation that lies approximately 250m to the east of the open pit. The `Walawuru' target consists of a tabular zone of mineralisation that lies to the west of the open pit, striking towards the west and dipping steeply to the north. Mineralisation in the target area is hosted within and adjacent to the `Hangingwall Fault', a major structure which consists of chloritic rock-flour matrix breccia. The area of Walawuru mineralisation immediately adjacent to the open pit wall is included in the Prominent Hill Mineral Resource2. The target area extends to the west of this Mineral Resource, with copper mineralisation present in wide spaced historical drilling. The 2021 Walawuru drilling program targeted areas of sparse drilling along the structural control to the west of the existing Mineral Resource, with a view towards improving confidence in the continuity of grade. Nine diamond drillholes were completed and assays have been received for six of these holes to date. All holes with assays received have confirmed the presence of copper mineralisation. Significant results received to date from the 2021 Walawuru drill program include (uncut and true widths). The `Papa' target area lies approximately 250m to the east of the open pit and is associated with a north-westerly striking, steeply north-easterly dipping package of hematite breccia, with Prominent Hill-style disseminated IOCG mineralisation present in historical drillholes. A portion of the target area continues to be included in the Prominent Hill Mineral Resource. Drilling of the Papa target was undertaken this year to improve the understanding of the geometry and extents of the mineralized envelope. Four holes were completed with significant intersections received from drillholes PH21RD7679, PH21RD7691, and PH21RD7712 supporting the modelled geometry and continuity between historical intersections (uncut and true widths).

Positive

Oz Minerals Approves Construction of A Hoisting Shaft at the Prominent Hill Copper Gold Mine

2021-08-17 22:33:00

OZ Minerals Board approved construction of a hoisting shaft at the Prominent Hill copper gold mine which will extend the mine life to 2036 at 6 million tonnes per annum. The shaft mine expansion also enables generational province potential with further mine life extensions possible as 67 million tonnes of resource remains outside the shaft expansion mine plan. Further, an exploration program has also identified that mineralisation remains open at depth beyond the current Mineral Resource boundary, potentially accessible via the shaft. The exploration update released on August 18, 2021 also provides further clarity on satellite orebodies closer to the surface that could potentially be mined simultaneously. The exploration potential is not contemplated in the shaft business case. The $600 million Wira shaft investment will increase annual copper production rates by 23% at a 20% lower operating cost over the current trucking life of mine estimates. Work on sinking the Wira shaft is expected to commence in the first quarter of 2022 and is scheduled for completion in 2024. The hoisting shaft provides access to Mineral Resource outside the current trucking mine plan that would have been uneconomical via a trucking operation from ~2033. Key project changes since the study update released in November 2020 include: Increase in the Ore Reserve of 13 million tonnes as a result of infill drilling done since July 2020 (38% increase). Extended mine life, now 15 years (previously 11 years). Site operating costs lowered by $14-$20 per tonne. Pre-production capital of circa $600 million (previously $450 million) due to an increase in scope to incorporate operational efficiencies and longer mine life, greater accuracy of estimates from suppliers, and inflation pressure on raw materials and labour costs. Prominent Hill mine began operation in 2009 as an open pit and is now an underground mine producing 4.5 million tonnes per annum moving to between 4.5 and 5 million tonnes per annum from 2022 via a trucking operation. Upon completion of the Wira shaft installation in 2024, the underground production rate will increase to 6 million tonnes per annum from 2025. The shaft operation is expected to commence in 2025 around the same time the stockpiled ore from the original open pit is fully depleted. The average annual copper production is expected to be circa 54,000 tonnes and 108,000 ounces of gold post 2025, some 23% more than expected in the current trucking operation. The key project metrics for the Wira shaft mine expansion, compared to the current trucking life of mine (LOM). Production Targets Cautionary Statement for Study Update: OZ Minerals advises that the Prominent Hill Expansion Study update is based upon a subset of the Prominent. Hill Mineral Resources and Ore Reserves. The Production Target of the expansion study case comprises: 27.8% Proved Ore Reserves; 37.3% Probable Ore Reserves; 1.4% Measured Mineral Resources; 3.6% Indicated Mineral Resources and 29.9% Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. OZ Minerals confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. OZ Minerals confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. The Ore Reserve and Mineral Resource estimates underpinning the production targets were prepared by a Competent Person in accordance with the JORC Code 2012.

Positive

OZ Minerals Limited Announces Fully Franked Ordinary Distribution for the Six Months Ended June 30, 2021, Payable on September 7, 2021

2021-08-17 22:32:00

OZ Minerals Limited announced fully franked ordinary distribution of AUD 0.160 per security for the six months ended June 30, 2021. Ex date is August 23, 2021. Record date is August 24, 2021 and the payment date is September 7, 2021.

Neutral

South Australian Chamber of Mines and Energy., Copper to the World Conference 2021, Aug 31, 2021

2021-07-08 00:00:00

South Australian Chamber of Mines and Energy., Copper to the World Conference 2021, Aug 31, 2021. Venue: Adelaide Convention Centre, Adelaide, Australia. This key annual conference provides access to new insights and updates from leading voices in the Australian and global copper industry and markets. It attracts participants from across the sector - from miners and refiners, to global investors, traders and original equipment manufacturers (OEMs).

Neutral

OZ Minerals Limited Presents at Copper to the World Conference 2021, Aug-31-2021

2021-07-07 19:31:00

OZ Minerals Limited Presents at Copper to the World Conference 2021, Aug-31-2021 . Venue: Adelaide Convention Centre, Adelaide, Australia.

Fundamental Summary

OZ released impressive Q2 results on 2021-08-17. Their positive income and value factors indicate that it is likely to continue to produce impressive results for the foreseeable future, as well. There should be significant upside potential for the stock looking forward. As such, OZ received an overall score of 74 and a HOLD recommendation.

OZ announced earnings results for the half year ended June 30, 2021. For the half year, the company announced sales was AUD 986.1 million compared to AUD 575.7 million a year ago. Net income was AUD 268.6 million compared to AUD 79.8 million a year ago. Basic earnings per share from continuing operations was AUD 0.809 compared to AUD 0.246 a year ago.

Business Description

OZ engages in the exploration, development, mining, and processing of mining projects in Australia. The company primarily explores for copper, gold, silver, nickel, iron oxide, zinc, and lead deposits. It owns and operates the Prominent Hill mine located in northern South Australia; the Carrapateena project located in South Australia; and the Antas mine located in the state of Pará in the northern region of Brazil. The company also holds interests in the West Musgrave copper-nickel project located in the Musgrave Province, Western Australia; Pedra Branca project located in the southern part of the Carajás in the state of Pará in the North of Brazil; and the CentroGold project located in the state of Maranhão in northern Brazil. In addition, it has interests in the Paraiso, Pantera, Lannavaara, Coompana, and Eloise properties. The company was incorporated in 1932 and is headquartered in Adelaide, Australia.

Sector Overview

OZ is included in the Metals & Mining according to GICS (global industry classification standard). The Metals & Mining industry is included in the Materials sector. It includes the producers of aluminum, iron, steel, gold, other diversified metals and minerals, and their related products, as well as the mining and production the above materials. OZ's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 4,962.4 4.3% 72
Liabilities 1,481.2 -4.1% 87
Price to Book 2.1 10.2% 72
Cash & Equivalents 133.8 1.6% 69
Equity 3,481.2 8.4% 72
EBITDA 890.4 53.3% 82
Total Revenues 1,752.4 30.6% 48
Parameter Value Change Score
Return on Equity 12.4 80.1% 82
Net Cashflow 19.3 939.1% 69
Capital Expenditure -602.5 -7.0% 66
Asset Turnover 0.4 24.6% 73
Free Cashflow 0.8 2065.4% 97

* All values are TTM

The below chart reflects OZ's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While OZ's peer average final assessment score stands on 69.0, OZ's score is 74.

  •  OZL
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
BHP Group Limited 208.5B 58 71 75
Hold
69
69 0 1
Fortescue Metals Group Limited 55.0B 65 67 75
Hold
68
68 1 1
Newcrest Mining Limited 19.4B 52 66 57
Underperform
56
56 2 1
South32 Limited 18.7B 84 72 78
Buy
82
82 3 1
Mineral Resources Limited 9.2B 55 63 61
Underperform
56
56 4 1
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 5 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 6 1
IGO Limited 7.8B 50 78 72
Hold
71
71 7 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 8 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 9 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 10 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 11 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 12 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 13 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 14 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 15 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 16 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 17 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 18 1
Sims Limited 2.7B 68 69 82
Hold
74
74 19 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 20 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 21 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 22 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 23 1
Sandfire Resources Limited 1.9B 82 69 76
Buy
79
79 24 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 25 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 26 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 27 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 28 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 29 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 30 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 31 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 32 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 33 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 34 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 35 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 36 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 37 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 38 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 39 1
Equigold NL 854.0M 50 65 87
Hold
67
67 40 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 41 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 42 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 43 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 44 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 45 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 46 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 47 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 48 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 49 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 50 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 51 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 52 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 53 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 54 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 55 1
Adriatic Metals PLC 528.8M 66 73 68
Hold
71
71 56 1
Argosy Minerals Limited 467.8M 66 73 68
Hold
71
71 57 1
Perenti Global Limited 461.4M 60 78 67
Hold
72
72 58 1
Champion Iron Limited 441.1M 58 71 55
Hold
64
64 59 1
Panoramic Resources Limited 420.4M 58 71 67
Hold
66
66 60 1
Hastings Technology Metals Limited 404.8M 65 68 67
Hold
68
68 61 1
Alkane Resources Limited 402.0M 78 70 68
Hold
73
73 62 1
Centaurus Metals Limited 397.2M 66 73 68
Hold
71
71 63 1
Bowen Coking Coal Limited 385.5M 66 73 68
Hold
71
71 64 1
Jupiter Mines Limited 372.2M 66 81 50
Hold
64
64 65 1
Galan Lithium Limited 362.2M 66 73 68
Hold
71
71 66 1
Talga Group Ltd 359.9M 53 60 62
Underperform
53
53 67 1
BCI Minerals Limited 349.8M 71 68 60
Hold
66
66 68 1
Metals X Limited 344.8M 68 87 68
Buy
82
82 69 1
Pantoro Limited 330.8M 66 73 68
Hold
71
71 70 1
Aurelia Metals Limited 327.8M 65 58 60
Underperform
56
56 71 1
Macmahon Holdings Limited 283.7M 68 65 62
Hold
66
66 72 1
Lotus Resources Limited 277.3M 66 73 68
Hold
71
71 73 1
Firefinch Limited 236.2M 66 73 68
Hold
71
71 74 1
Andromeda Metals Limited 229.8M 66 73 68
Hold
71
71 75 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. OZ's stock is now priced below its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a negative setup in the near, medium, and long-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), OZ's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.

Bearish 42
Close Price 18.66
52W Low 18.46
52W High 29.21
5D MA 19.32
50D MA 23.02
200D MA 25.03
MACD -1.25
RSI 24.26
STOCH 3.22

Balance Sheet Analysis

OZ appears likely to maintain its strong balance sheet metrics and momentum going forward. OZ is doing a good job of keeping its liabilities under control and growing intelligently. At filing, their liabilities were 1481.2, representing -4.1% change from the previous period. This performance is all interesting relative to their peers and suggests that their stock price has room to grow to reflect a higher intrinsic value. These results statistically lead to positive movement in stock prices, so we rated its liabilities movement component 87. Also, The company's assets section could set high expectations for OZ's future attractiveness, as they went to 4962.4, which is a 4.3% change from the last period. This growth should support upward pressure on its's stock price, which better captures their intrinsic value. The company's asset component, therefore, received a grade of 72. That said, one metric, Cash & Equivalents, stood out as particularly concerning. OZ reported concerning cash and cash equivalents metrics in this filing. Specifically, they reported that cash and cash equivalents were 133.8, representing a 1.6% change from the last period. The company's cash and cash equivalents metrics highlight a difficult overall financial situation, which may, unfortunately, continue moving forward unless management makes significant changes. Consequently, their cash and cash equivalents movement received a grade of 69. Consequently, their balance sheet earned a rank of 74.

Parameter Value Change Score
Assets 4,962.4 4.3% 72
Liabilities 1,481.2 -4.1% 87
Price to Book 2.1 10.2% 72
Cash & Equivalents 133.8 1.6% 69
Equity 3,481.2 8.4% 72
* All values are TTM

The below chart describes OZ's performance as reflected on its balance sheet with respect to its peers. While OZ received a balance sheet score of 74, the average of its peers stands on 68.0.

  •  OZL
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
BHP Group Limited 208.5B 74 92 47 52 76 58 0 1
Fortescue Metals Group Limited 55.0B 83 66 68 55 69 65 1 1
Newcrest Mining Limited 19.4B 85 72 46 46 73 52 2 1
South32 Limited 18.7B 74 73 80 79 74 84 3 1
Mineral Resources Limited 9.2B 83 73 52 42 90 55 4 1
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 5 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 6 1
IGO Limited 7.8B 43 37 80 42 63 50 7 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 8 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 9 1
Allkem Limited 6.9B 53 64 44 65 89 57 10 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 11 1
Alumina Limited 4.4B 51 69 50 46 84 50 12 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 13 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 14 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 15 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 16 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 17 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 18 1
Sims Limited 2.7B 85 72 83 49 57 68 19 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 20 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 21 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 22 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 23 1
Sandfire Resources Limited 1.9B 41 64 87 87 73 82 24 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 25 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 26 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 27 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 28 1
West African Resources Limited 1.3B 92 56 81 92 42 87 29 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 30 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 31 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 32 1
Lake Resources NL 1.2B 78 74 55 64 78 66 33 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 34 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 35 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 36 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 37 1
ioneer Ltd 867.9M 98 56 80 86 52 85 38 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 39 1
Equigold NL 854.0M 57 46 86 50 45 50 40 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 41 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 42 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 43 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 44 1
Imdex Limited 796.9M 59 69 83 61 75 71 45 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 46 1
St Barbara Limited 701.5M 80 69 51 49 61 53 47 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 48 1
Red 5 Limited 671.6M 49 45 39 55 96 47 49 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 50 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 51 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 52 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 53 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 54 1
Neometals Ltd 531.9M 97 77 46 50 97 60 55 1
Adriatic Metals PLC 528.8M 78 74 55 64 78 66 56 1
Argosy Minerals Limited 467.8M 78 74 55 64 78 66 57 1
Perenti Global Limited 461.4M 68 71 51 61 74 60 58 1
Champion Iron Limited 441.1M 66 49 73 47 67 58 59 1
Panoramic Resources Limited 420.4M 78 75 43 58 85 58 60 1
Hastings Technology Metals Limited 404.8M 75 72 56 67 67 65 61 1
Alkane Resources Limited 402.0M 45 56 83 88 40 78 62 1
Centaurus Metals Limited 397.2M 78 74 55 64 78 66 63 1
Bowen Coking Coal Limited 385.5M 78 74 55 64 78 66 64 1
Jupiter Mines Limited 372.2M 63 93 46 52 80 66 65 1
Galan Lithium Limited 362.2M 78 74 55 64 78 66 66 1
Talga Group Ltd 359.9M 90 78 38 45 95 53 67 1
BCI Minerals Limited 349.8M 86 73 58 67 82 71 68 1
Metals X Limited 344.8M 90 77 50 67 80 68 69 1
Pantoro Limited 330.8M 78 74 55 64 78 66 70 1
Aurelia Metals Limited 327.8M 85 69 59 60 72 65 71 1
Macmahon Holdings Limited 283.7M 47 61 72 78 44 68 72 1
Lotus Resources Limited 277.3M 78 74 55 64 78 66 73 1
Firefinch Limited 236.2M 78 74 55 64 78 66 74 1
Andromeda Metals Limited 229.8M 78 74 55 64 78 66 75 1

Income Statement Analysis

EBITDA and Return Factors stand out as the most significant drivers of OZ's income statement's strength. OZ's management did a remarkable job this period managing its EBITDA. In terms of the raw numbers, EBITDA was reported as 890.4, which represents a 53.3% change from the last period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 18.3%. Its EBITDA metrics highlight an impressive overall financial performance, which is expected to continue moving forward. The company's EBITDA movement, therefore, received a grade of 82. Also, Return factors metrics and ratios were exceptional in this report. OZ reported a return on equity (ROE) ratio of 12.4, representing a change of 80.1% from the last report. The company appears headed in the right direction in terms of these return factors, exhibiting prudent capital expenditure growth compared to its peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 82. At the same time, one critical income statement metric, Revenue Efficiency, was notably weak. OZ reported discouraging numbers for its revenue efficiency. As of the current filing, they were reported as 1752.4 and represented 30.6% change from the previous period. This metric might have a 22.8 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency, specifically in contrast to their industry peers', isn't encouraging. As a result, their revenue efficiency earned a score of 48. Therefore, it received a score of 66.

Parameter Value Change Score
EBITDA 890.4 53.3% 82
Total Revenues 1,752.4 30.6% 48
Return on Equity 12.4 80.1% 82
* All values are TTM

The below chart describes OZ's performance as reflected on its income statement with respect to its peers. While OZ received a income statement score of 66 , the average of its peers stands on 70.0.

  •  OZL
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
BHP Group Limited 208.5B 64 79 79 71 0 1
Fortescue Metals Group Limited 55.0B 58 78 75 67 1 1
Newcrest Mining Limited 19.4B 95 45 48 66 2 1
South32 Limited 18.7B 47 94 95 72 3 1
Mineral Resources Limited 9.2B 94 42 44 63 4 1
Lynas Rare Earths Limited 8.3B 50 91 83 69 5 1
Northern Star Resources Limited 8.2B 48 66 68 56 6 1
IGO Limited 7.8B 98 72 48 78 7 1
BlueScope Steel Limited 7.3B 86 71 66 72 8 1
Pilbara Minerals Limited 6.9B 38 96 96 69 9 1
Allkem Limited 6.9B 46 75 74 61 10 1
Evolution Mining Limited 4.8B 94 46 43 64 11 1
Alumina Limited 4.4B 87 73 76 79 12 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 13 1
Iluka Resources Limited 3.9B 50 62 89 60 14 1
Andean Resources Ltd. 3.7B 37 89 91 97 15 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 16 1
Nickel Industries Limited 2.8B 66 61 55 60 17 1
AVZ Minerals Limited 2.8B 87 63 41 68 18 1
Sims Limited 2.7B 45 90 92 69 19 1
Zimplats Holdings Limited 2.6B 94 50 52 68 20 1
Liontown Resources Limited 2.4B 87 78 91 84 21 1
Perseus Mining Limited 2.3B 42 88 83 65 22 1
Deterra Royalties Limited 2.3B 45 83 66 61 23 1
Sandfire Resources Limited 1.9B 64 73 74 69 24 1
Core Lithium Ltd 1.8B 87 47 81 70 25 1
Chalice Mining Limited 1.5B 99 65 76 81 26 1
Grange Resources Limited 1.5B 74 61 61 64 27 1
Capricorn Metals Ltd 1.3B 37 98 97 69 28 1
West African Resources Limited 1.3B 43 84 63 59 29 1
Silver Lake Resources Limited 1.2B 95 42 41 63 30 1
De Grey Mining Limited 1.2B 44 45 76 47 31 1
Gold Road Resources Limited 1.2B 94 48 49 67 32 1
Lake Resources NL 1.2B 87 62 66 73 33 1
Sayona Mining Limited 1.2B 87 62 66 73 34 1
Regis Resources Limited 1.1B 65 50 45 53 35 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 36 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 37 1
ioneer Ltd 867.9M 87 55 60 69 38 1
Syrah Resources Limited 856.9M 38 67 62 50 39 1
Equigold NL 854.0M 79 44 91 65 40 1
Ramelius Resources Limited 828.4M 94 51 48 68 41 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 42 1
Jervois Global Limited 813.1M 37 94 93 71 43 1
Mincor Resources NL 808.9M 98 57 59 77 44 1
Imdex Limited 796.9M 77 60 56 56 45 1
Bellevue Gold Limited 722.0M 87 44 83 69 46 1
St Barbara Limited 701.5M 93 56 53 70 47 1
Emerald Resources NL 679.4M 37 96 94 68 48 1
Red 5 Limited 671.6M 95 58 66 75 49 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 50 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 51 1
Westgold Resources Limited 575.3M 84 58 43 65 52 1
OM Holdings Limited 563.6M 50 96 97 75 53 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 54 1
Neometals Ltd 531.9M 87 66 56 72 55 1
Adriatic Metals PLC 528.8M 87 62 66 73 56 1
Argosy Minerals Limited 467.8M 87 62 66 73 57 1
Perenti Global Limited 461.4M 73 81 87 78 58 1
Champion Iron Limited 441.1M 95 50 45 71 59 1
Panoramic Resources Limited 420.4M 95 50 62 71 60 1
Hastings Technology Metals Limited 404.8M 90 51 53 68 61 1
Alkane Resources Limited 402.0M 68 74 74 70 62 1
Centaurus Metals Limited 397.2M 87 62 66 73 63 1
Bowen Coking Coal Limited 385.5M 87 62 66 73 64 1
Jupiter Mines Limited 372.2M 96 46 50 81 65 1
Galan Lithium Limited 362.2M 87 62 66 73 66 1
Talga Group Ltd 359.9M 87 40 47 60 67 1
BCI Minerals Limited 349.8M 94 47 56 68 68 1
Metals X Limited 344.8M 94 84 79 87 69 1
Pantoro Limited 330.8M 87 62 66 73 70 1
Aurelia Metals Limited 327.8M 68 58 49 58 71 1
Macmahon Holdings Limited 283.7M 88 51 48 65 72 1
Lotus Resources Limited 277.3M 87 62 66 73 73 1
Firefinch Limited 236.2M 87 62 66 73 74 1
Andromeda Metals Limited 229.8M 87 62 66 73 75 1

Cash Flow Analysis

OZ appears likely to maintain its strong cash flow metrics and momentum going forward. OZ's published free cash flow numbers were substantial and reflected management's focus on a healthy change strategy. OZ recorded free cash flow of 0.8, which represents a 2065.4% change from the previous report. Companies in the same industry and market capitalization are typically affected by this parameter by up to 3.7%. These free cash flow numbers show that management has executed well while generating cash flow and encouraging growth. The company's free cash flow movement, therefore, received a grade of 97. Also, OZ is doing a remarkable job of keeping its asset turnover under control. At filing, their asset turnover metrics were 0.4, representing a 24.6% change from the previous period. This metric might have a 3.2 percent impact on companies in the same industry and with the same market capitalization. Their asset turnover numbers are significantly more impressive when contrasted against their peers and competitors. Correspondingly, their asset turnover movement received a grade of 73. That said, one metric, Capital Expenditure, stood out as strongly negative. OZ's management was ineffective in materially improving CapEx, which now sits at -602.5 and represents a -7.0% change from the previous report. This performance is all the more uninspiring relative to their peers and competitors. Therefore, their CapEx movement component earned a score of 66. Because the company's management is doing an excellent job managing these critical metrics, the cash flow was given a score of 78.

Parameter Value Change Score
Net Cashflow 19.3 939.1% 69
Capital Expenditure -602.5 -7.0% 66
Asset Turnover 0.4 24.6% 73
Free Cashflow 0.8 2065.4% 97
* All values are TTM

The below chart describes OZ's performance as reflected on its cash flow with respect to its peers. While OZ received a cash flow score of 78, the average of its peers stands on 68.0.

  •  OZL
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
BHP Group Limited 208.5B 70 77 80 71 75 0 1
Fortescue Metals Group Limited 55.0B 74 78 69 74 75 1 1
Newcrest Mining Limited 19.4B 58 48 63 55 57 2 1
South32 Limited 18.7B 72 86 82 75 78 3 1
Mineral Resources Limited 9.2B 58 69 54 63 61 4 1
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 5 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 6 1
IGO Limited 7.8B 80 73 66 57 72 7 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 8 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 9 1
Allkem Limited 6.9B 75 77 70 84 82 10 1
Evolution Mining Limited 4.8B 54 49 61 39 50 11 1
Alumina Limited 4.4B 68 74 76 70 72 12 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 13 1
Iluka Resources Limited 3.9B 75 84 52 74 74 14 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 15 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 16 1
Nickel Industries Limited 2.8B 75 63 76 61 70 17 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 18 1
Sims Limited 2.7B 83 98 56 82 82 19 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 20 1
Liontown Resources Limited 2.4B 59 69 76 51 62 21 1
Perseus Mining Limited 2.3B 69 94 90 83 83 22 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 23 1
Sandfire Resources Limited 1.9B 73 85 63 71 76 24 1
Core Lithium Ltd 1.8B 61 69 76 72 69 25 1
Chalice Mining Limited 1.5B 53 62 84 38 55 26 1
Grange Resources Limited 1.5B 75 79 76 62 73 27 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 28 1
West African Resources Limited 1.3B 73 84 42 58 66 29 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 30 1
De Grey Mining Limited 1.2B 80 69 76 61 73 31 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 32 1
Lake Resources NL 1.2B 68 69 76 60 68 33 1
Sayona Mining Limited 1.2B 68 69 76 60 68 34 1
Regis Resources Limited 1.1B 65 76 68 69 69 35 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 36 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 37 1
ioneer Ltd 867.9M 47 57 54 51 51 38 1
Syrah Resources Limited 856.9M 59 58 43 98 69 39 1
Equigold NL 854.0M 91 69 72 84 87 40 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 41 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 42 1
Jervois Global Limited 813.1M 43 51 38 82 54 43 1
Mincor Resources NL 808.9M 63 63 72 45 57 44 1
Imdex Limited 796.9M 71 72 79 73 74 45 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 46 1
St Barbara Limited 701.5M 54 46 71 55 56 47 1
Emerald Resources NL 679.4M 84 81 80 81 84 48 1
Red 5 Limited 671.6M 68 49 48 59 59 49 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 50 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 51 1
Westgold Resources Limited 575.3M 59 69 71 59 63 52 1
OM Holdings Limited 563.6M 75 90 90 75 82 53 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 54 1
Neometals Ltd 531.9M 62 54 71 52 60 55 1
Adriatic Metals PLC 528.8M 68 69 76 60 68 56 1
Argosy Minerals Limited 467.8M 68 69 76 60 68 57 1
Perenti Global Limited 461.4M 61 69 54 78 67 58 1
Champion Iron Limited 441.1M 56 69 51 49 55 59 1
Panoramic Resources Limited 420.4M 69 69 79 54 67 60 1
Hastings Technology Metals Limited 404.8M 65 68 74 57 67 61 1
Alkane Resources Limited 402.0M 69 58 68 71 68 62 1
Centaurus Metals Limited 397.2M 68 69 76 60 68 63 1
Bowen Coking Coal Limited 385.5M 68 69 76 60 68 64 1
Jupiter Mines Limited 372.2M 51 51 84 44 50 65 1
Galan Lithium Limited 362.2M 68 69 76 60 68 66 1
Talga Group Ltd 359.9M 53 48 76 70 62 67 1
BCI Minerals Limited 349.8M 62 54 76 49 60 68 1
Metals X Limited 344.8M 70 81 72 55 68 69 1
Pantoro Limited 330.8M 68 69 76 60 68 70 1
Aurelia Metals Limited 327.8M 72 58 54 49 60 71 1
Macmahon Holdings Limited 283.7M 72 53 46 57 62 72 1
Lotus Resources Limited 277.3M 68 69 76 60 68 73 1
Firefinch Limited 236.2M 68 69 76 60 68 74 1
Andromeda Metals Limited 229.8M 68 69 76 60 68 75 1

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