CAILEY BARKER NUMIS SECURITIES
Profits are down seven per cent year-on-year, and revenues up three per cent due to higher production offsetting lower copper prices. All in all it’s a good set of results, but they shouldn’t draw huge surprise.
HELAL MIAH THE SHARE CENTRE
Antofagasta has the potential to deliver strong results, however due to the economic headwinds it faces we continue to recommend Antofagasta as a ‘hold’. We prefer larger, diversified miners such as Rio Tinto and BHP.
PETER MALLIN-JONES CANACCORD GENUITY
Operationally, the results are in line with our expectations. The overall cost for the Esperanza modifications appears to be between US$200M – US$250M, in line with our current estimate of the likely costs.