Oz Minerals (OZL) +0.97%: a full year result for OZL, caught a commodity tailwind into the end of the year across copper & gold. NPAT up ~50% to $213m was in line with expectations, net cash of $32m and operations all running smoothly. Carrapateena production ramp up has come in well ahead of schedule and focus now turns to the expansion project there. Guidance – costs and production – for the full year was unchanged from comments at the 4th qtr update. We bought last week enjoying both the commodity tailwind and the growth options OZL has access to.
MM remains bullish OZL
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