Is BHPs Olympic Dam also in the world gold super league?
The share price of BHP Billiton Ltd soared today on speculation that Olympic Dam not only has 40% of world uranium resources, a massive copper depository but also now one of the world’s biggest gold resources. Author: Ross Louthean Posted: Monday , 24 Sep 2007 PERTH – For years there has been rumours that WMC Resources and then its acquirer BHP Billiton were keeping the extent of the gold component in the world class Olympic Dam mine under wraps – an issue that caused a big spark on the Australian sharemarket today. Reality or speculation? The answer may be given in the annual report to be released this Wednesday. BHP’s share price ended today at $A43.14 ($US37.44), after rising $A2.14 ($US1.85) or 5.22% on the day. Helping fan the speculation was a comment last month by incoming chief executive Marius Kloppers who indicated a significant upgrade of Olympic Dam’s reserves could be expected. There is nothing new in this speculation as it has been raised by experienced mining analysts ov
