OZL +6.53%: posted FY21 and June quarter production numbers today and they were strong in a number of respects. Production increased ~22% on the softer March quarter and the new run rate implies that the company will hit the mid-point of full year guidance (December year-end) – some thought this was going to be a stretch after a soft start to the year. The improving trajectory was flagged however they also increased gold production and lowered cost guidance, the former up ~8%, the later down ~7% which is positive for margins / earnings. We like OZL and have recently bought back into the stock in the Growth Portfolio
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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MM remains bullish OZL
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