OZ Minerals shares tumble on lowered guidance
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Investors sent OZ Minerals Ltd shares tumbling more than seven per cent after the miner lowered its full-year gold production guidance and posted sharp falls in gold and copper quarterly production.
At 1530 AEST, Oz Minerals shares were 7.54% lower at $4.29, against a slight benchmark fall of 0.15%. Earlier Oz Minerals shares fell as low as $4.255.
In the three months to June 31, OZ Minerals produced 17,379 tonnes of copper concentrate, significantly lower than the 25,521 tonnes produced in the previous corresponding period.
In the same period, the group produced 31,018 ounces of gold, lower than the 34,475 ounces produced in the June 2012 quarter.
OZ Minerals reaffirmed its position that production in the year would be weighted towards the second half.
However, the miner did lower its full-year production guidance for gold production to between 120,000 ounces and 130,000 ounces. At the group's annual general meeting in May, gold production guidance was set at between 130,000 to 150,000 ounces of gold.
"Gold production will depend on the ore blend fed to the mill with preference given to copper ore because of its higher revenue contribution," the group said.
Full-year copper production guidance was maintained at a range between 82,000 tonnes and 88,000 tonnes.
Call 1300 880 160
Start a chat
Schedule a call
