OZ Minerals has a number of equity interests in other mining and exploration companies. OZ Minerals considers these holdings likely to generate future value to the company and to shareholders.
The various holdings are as follows:
410.3 m shares in Toro Energy
Toro Energy Limited (ASX code: TOE AU) is one of the largest listed Australian uranium exploration and development companies. OZ Minerals’ interest in Toro is a strategic window into the uranium industry. OZ Minerals owns 42.5% of Toro.
For further information on this company please visit www.toroenergy.com.au.
26.2m shares in IMX Resources Limited
On 30 November 2009 OZ Minerals announced a binding Heads of Agreement with IMX Resources Limited (ASX code: IXR) with the intention of forming a Joint Venture Agreement to explore for and develop copper-gold projects on IMX’s Mt Woods tenements in South Australia.These tenements are largely contiguous with OZ Minerals tenements, which include its Prominent Hill mine. In addition to this agreement, OZ Minerals also subscribed for an equity placement in IMX. (ASX announcement: OZ Minerals and IMX Resources heads of agreement and share placement - 30 November 2009)
Following the placement of shares, OZ Minerals owns 13% of IMX Resources. In January 2010, IMX announced a further proposed share placement to give Sichuan Taifeng Group a 19.9% shareholding, subject to Foreign Investment Review Board and shareholder approval. Assuming that the placement proceeds, OZ Minerals will participate in a further placement of 7,759,000 shares at 48.4c to maintain its holding at 13%.
For further information on this company please visit www.imxres.com.au.
8.0m shares in Minotaur Exploration
OZ Minerals owns just under 10% of Minotaur Exploration (ASX code: MEP AU). Under the Scheme of Arrangement between Oxiana and Minotaur Resources in early 2005, Oxiana acquired Minotaur Exploration which contains the non Prominent Hill assets of the former Minotaur Resources as well as other exploration projects in Australia and now overseas. Further shares have since been bought in various placements.
For further information on this company please visit www.minotaurexploration.com.au.
10m shares in Royalco Resources Ltd
OZ Minerals holds a 19% interest in Royalco Resources Limited (code: RCO AU). Royalco holds a number of royalty interests in other gold and base metal assets. Oxiana sold its wholly owned subsidiary, Oxiana Philippines Inc to Royalco. As part of the sale Oxiana received 10 million shares in Royalco at the issue price of A$0.50 per share.
For further information on this company please visit www.royalco.com.au.
27.0m shares in EMED Mining
Oxiana acquired shares in consideration for Oxiana's 95% interest in EMED Mining Public Limited (formally known as Eastern Mediterranean Minerals Ltd) which was the exploration arm of Oxiana's Cyprus interest. OZ Minerals has also subscribed for additional shares in subsequent placements. EMED Mining is listed on the AIM market in London (code: EMED LN), where it is quoted in pence per share. For further information on this company please visit www.emed-mining.com.
12.8m shares in Beadell Resources
In mid 2007 Oxiana sold the majority of the Australian exploration interests (excluding those in the Wiluna area) that were acquired as part of the takeover of Agincourt Resources Limited, into the IPO of Beadell Resources (ASX code: BDR AU). For further information on this company please visit their website www.beadellresources.com.au.
5.556m shares in Strategic Minerals
Oxiana previously entered into a staged farm-in agreement with Strategic Minerals Corporation (code: SMC AU) covering the Woolgar gold project in central North Queensland. Oxiana exited this project in late 2007 but OZ Minerals retained the direct equity interest in Strategic Minerals.
For further information visit www.stratmin.com.au.
4.0m shares in Tigers Realm
In late 2009 OZ Minerals sold its 75% interest in the Chatree Thai Global Ventures joint venture in Thailand to unlisted Tigers Realm Minerals Pty Ltd for consideration of cash and shares.
For further information on this company please visit www.tigersgold.com.
Apex Minerals NL
OZ Minerals sold its stake (9.5m shares) in Apex Minerals in the fourth quarter of 2009.