OZ Minerals Limited Announces Retirement of Brian Jamieson as Director
Apr 16 15
OZ Minerals Limited announced Mr. Brian Jamieson has notified the board that he will not be seeking re-election and will retire as a director at the end of the AGM.
OZ Minerals Limited Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2014
Apr 2 15
OZ Minerals Limited announced audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue from sales of concentrates was $831 million compared to $644 million a year ago. Profit before net financing income and income tax from continuing operations was $56.3 million compared to loss before net financing income and income tax from continuing operations of $434 million a year ago. Profit before income tax from continuing operations was $59.9 million compared to loss before income tax from continuing operations of $427 million a year ago. Profit from continuing operations was $41.6 million or 13.7 cents per basic and diluted share compared to loss from continuing operations of $294.4 million or 97.1 cents per basic and diluted share a year ago. Profit for the year attributable to equity holders of the company was $48.5 million or 16 cents per basic and diluted share compared to loss for the year attributable to equity holders of the company of $294.4 million or 97.1 cents per basic and diluted share a year ago. Net cash inflows from operating activities were $221.5 million compared to $179.1 million a year ago. Payment for property, plant and equipment was $325.9 million compared to $391.3 million a year ago.
Miocene Resources Limited, Carube Resources Inc. and Oz Minerals Limited Provide an Exploration Update on Bellas Gate Joint Venture in Jamaica
Mar 30 15
Miocene Resources Limited (Miocene Metals Limited) and Carube Resources Inc. provided an exploration update on their Bellas Gate Joint Venture (BGJV) with OZ Minerals Limited in Jamaica. Two drills are currently operating on the property as part of the CAD 3.6 million 2015 exploration program. A third drill is being added to the program in the near future. Work completed since the inception of the BGJV in January 2014 includes 5,500 metres of drilling in 18 holes. Helicopter magnetic and radiometric surveys have been completed over the entire property. Surface field work has been completed, including mapping, prospecting and the collection of 1,500 soil samples over numerous prospects. The total cost of exploration completed by OZ Minerals on the BGJV in 2014 was CAD 2.9 million. Connors: Drilling to date has focused on the Connors prospect where 12 holes have been completed for a total of 3,964 metres. This drilling has defined copper-gold mineralization with a surface footprint of approximately 300m by 260m and to a depth of 225m. The mineralization is characterized by multiphase potassium alteration with several episodes of copper mineralization. Copper mineralization is chalcopyrite - associated with quartz and magnetite veining as well as fine disseminations within the rock. Drill results include: from hole CON-14-003, 297m of 0.53% CuEq including 55m of 1.00% CuEq and from hole CON-14-005, 294m of 0.56% CuEq including 96m of 1.00% CuEq. Hendley: Detailed mapping and prospecting at Hendley, located approximately 4.5 km north-west of Connors and proximal to the northwest extremity of Porphyry Alley, identified strong copper oxide mineralisation at surface in several locations. A soil sampling program was been completed over a 2.3km x 1.8 km area and has identified a 1,200m by 500m copper gold in soil anomaly. Intensely altered rocks with malachite (a copper carbonate hydroxide mineral) were recovered from several hand-dug soil sample holes at depths of 30-50cm. Drilling is now in progress on the Hendley prospect with one drill rig. Initial assay results are pending. Geo Hill and Porphyry Alley: Drilling has also been initiated at Geo Hill at the north end of the approximately 1.9km strike length of the Porphyry Alley prospect which extends from Camel Hill in the southeast through Mab Hill to Geo Hill in the northwest. The Geo Hill target consists of a 450m x 300m area defined by an airborne magnetic anomaly with coincident elevated soil Cu values adjacent to an historic drill hole which intersected 0.35% copper and 0.17 grams per tonne gold over 121.6 metres. Drilling has intersected copper mineralization associated with magnetite. Assay results are pending. Dry Hill Target The Dry Hill prospect, located about two kilometres south of Geo Hill, consists of an airborne magnetic response underlying the centre and eastern edge of the two kilometre diameter Coffee Copper soil geochemical anomaly. The target has been given a high priority in the drilling sequence given the association of the copper mineralization with magnetite noted elsewhere on the property, including at Geo Hill. Kola: Detailed mapping at the Kola Prospect, located approximately 4.5 km south-east of Connors, has identified a zoned, porphyry-style alteration system, approximately 1.1 km long by 0.7 km wide. This correlates well with the historic copper soil geochemical anomaly, as well as airborne magnetic and radiometric data. A water extraction licence has been received and drill hole locations are currently being planned.