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bigdog
Retired many years ago
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Legs,
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=A5A25C09-17A4-1130-F58FEEAEDC8FE317
Zinifex Presentation Reignites Oxiana Speculation
FN Arena News - August 27 2007
By Rudi Filapek-Vandyck
Management of Zinifex (ZFX) has this morning reignited market speculation a corporate tie-in with copper and gold producer Oxiana Resources (OXR) is likely to be considered once the planned smelter spin-off plan has been completed. The company’s partner in the smelter plans, Belgium’s Umicore, informed investors last week the earliest possible date for the proposed IPO was late October.
It would appear Zinifex management has big plans post the smelter's spin-off with today’s management presentation to securities analysts indicating management sees a strong growth phase in three stages ahead. The first stage, indicated to last some four years, should see the company acquire additional assets at or near production.
Zinifex is specifically interested in acquiring assets that offer high margins and have extendible production lives. Core areas of interest are zinc, copper, silver, gold and lead, though management would also consider nickel and certain niche metals.
Other metals, including bulk commodities are not being considered.
The second growth stage, projected to kick in beyond the first four years and expected to last some six years, should see the company develop its Nunavut and Dugal River projects. Beyond the next ten years Zinifex’s future growth would be determined by developing brown field projects. (Meaning some infrastructure is already in place, as opposed to green field developments).
Earlier this morning the company reported a FY07 net profit of $1,334m, up 24% on the previous year. This well received by the market. Earnings forecasts by securities analysts had been in a wide range prior to the results release as varying expectations for metals prices, currencies and costs can lead to big differences in earnings forecasts.
The announced 70c in dividends takes total payout to shareholders for fiscal 2007 to $1.40 per share and this was much higher than what some analysts had expected.
This afternoon, Zinifex shares were trading 45c higher, up 2.7%, at $17.20. Shares of Oxiana were up 22c at $3.42. They hit $3.57 immediately after the presentation.
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=A5A25C09-17A4-1130-F58FEEAEDC8FE317
Zinifex Presentation Reignites Oxiana Speculation
FN Arena News - August 27 2007
By Rudi Filapek-Vandyck
Management of Zinifex (ZFX) has this morning reignited market speculation a corporate tie-in with copper and gold producer Oxiana Resources (OXR) is likely to be considered once the planned smelter spin-off plan has been completed. The company’s partner in the smelter plans, Belgium’s Umicore, informed investors last week the earliest possible date for the proposed IPO was late October.
It would appear Zinifex management has big plans post the smelter's spin-off with today’s management presentation to securities analysts indicating management sees a strong growth phase in three stages ahead. The first stage, indicated to last some four years, should see the company acquire additional assets at or near production.
Zinifex is specifically interested in acquiring assets that offer high margins and have extendible production lives. Core areas of interest are zinc, copper, silver, gold and lead, though management would also consider nickel and certain niche metals.
Other metals, including bulk commodities are not being considered.
The second growth stage, projected to kick in beyond the first four years and expected to last some six years, should see the company develop its Nunavut and Dugal River projects. Beyond the next ten years Zinifex’s future growth would be determined by developing brown field projects. (Meaning some infrastructure is already in place, as opposed to green field developments).
Earlier this morning the company reported a FY07 net profit of $1,334m, up 24% on the previous year. This well received by the market. Earnings forecasts by securities analysts had been in a wide range prior to the results release as varying expectations for metals prices, currencies and costs can lead to big differences in earnings forecasts.
The announced 70c in dividends takes total payout to shareholders for fiscal 2007 to $1.40 per share and this was much higher than what some analysts had expected.
This afternoon, Zinifex shares were trading 45c higher, up 2.7%, at $17.20. Shares of Oxiana were up 22c at $3.42. They hit $3.57 immediately after the presentation.
The price movement within the day is probably only in line with the day's general market move. One should never complain about a 5%+ gain on a single trading day, especially after recents weeks sp movements.
You will see that the included graph that the MACD divergence is looking looking promising with possible more rises in store in coming days
Look at my chart above...thats the chart for ONE day..not a week, a year, anything like that. I WAS NOT complaining about anything so where you got that idea from is a mystery... They were up OVER 10% at one stage (finishing 5.94% up) and i was simply asking for an answer to the UNUSUAL MID DAY MOVE. Show me another top 100 ASX stock moving like that without a good reason, this one was the ZFX meeting.
AS for MACD divergence, show a top 200ASX stock that doesnt have one after the correction!!!...lol
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The rise in SP of OXR could have been due to China's increase in July copper imports.Also the Chinese can from next week buy Hong Kong listed shares and Jiangxi Copper is tipped as a strong buy. porkpie
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Zinifex and the Oxiana bid that perhaps never was
Email Print Normal font Large font Barry FitzGerald
SMH August 28, 2007
IT COULD well be a case of the $6.5 billion-plus bid for Oxiana that never was after Zinifex, long speculated about as a suitor, disclosed to analysts that it had invested close to $200 million in an unnamed merger and acquisition opportunity.
The disclosure put a rocket under Oxiana's share price as analysts left its late-morning profit briefing in Sydney speculating that the unidentified acquisition opportunity could be Oxiana. Shares in Oxiana surged from $3.30 at midday to $3.57 an hour later, a gain of 8.2 per cent.
However, later in the day Zinifex told a media profit briefing that while it had invested in a potential merger and acquisition, situation, it was now liquidating the position, without saying whether it was in Oxiana. Oxiana shares then weakened to close the day at $3.39 - still an above-average gain for the day of 5.9 per cent.
Zinifex's acting chief executive officer, Tony Barnes, told the media briefing that it was "not unusual for companies to take positions in companies that arise as part of M and A activity".
"We did do that. I will tell you that we are currently in the processing of liquidating our holding. It was an opportunity we saw. Things change. You know, it's not unusual."
He would not comment on whether the position being liquidated was in Oxiana.
Zinifex reported a full-year profit of $1.33 billion, up from $1.07 billion the year before but with a noticeable slowdown in the second half profit when first tax payments and the higher US exchange rate began to bite.
"Breaking the $1 billion mark last year was a significant milestone for Zinifex," Mr Barnes said. "To post a net profit this year some 24 per cent higher again is simply an outstanding effort."
Zinifex's chief executive, Greig Gailey, retired at the end of June. Mr Barnes said he would not be seeking the post.
Mr Barnes said a new chief executive could be appointed by December. The board was comfortable with the executive management team in the interim and would take its time to "make sure they get the right person", he said.
A 70 cents a share (fully franked) dividend is to be paid on November 16. The record date for entitlements is November 5 and the ex dividend date is October 30. The payment takes the total for the year to $1.40, a rise of 75 per cent. Zinifex shares closed 45 cents higher at $17.20.
The group's bumper profit reflects big increases in the prices of its key metals - 74 per cent for zinc and the 58 per cent for lead. Partly offsetting the strong metal prices was a higher US exchange rate, particularly in the second half, and an 11 per cent increase in underlying operating costs (excluding exchange rate impacts). Another 10 per cent increase in costs was forecast.
As previously announced, Zinifex is getting ready to shunt off its smelting assets into the 60 per cent-owned Nyrstar next Monday. The plan is to sell its stake into the initial public offering of the European-based Nyrstar, planned for October at the earliest.
Zinifex has yet to say what it will reap from the sale, but the market is predicting an amount between $2 billion and $4 billion for reinvestment in the group's mining business.
Mr Barnes said nervous equity markets following the subprime credit crisis selldown were expected to be sufficiently recovered to get Nyrstar away.
The reporter owns Oxiana shares.
Email Print Normal font Large font Barry FitzGerald
SMH August 28, 2007
IT COULD well be a case of the $6.5 billion-plus bid for Oxiana that never was after Zinifex, long speculated about as a suitor, disclosed to analysts that it had invested close to $200 million in an unnamed merger and acquisition opportunity.
The disclosure put a rocket under Oxiana's share price as analysts left its late-morning profit briefing in Sydney speculating that the unidentified acquisition opportunity could be Oxiana. Shares in Oxiana surged from $3.30 at midday to $3.57 an hour later, a gain of 8.2 per cent.
However, later in the day Zinifex told a media profit briefing that while it had invested in a potential merger and acquisition, situation, it was now liquidating the position, without saying whether it was in Oxiana. Oxiana shares then weakened to close the day at $3.39 - still an above-average gain for the day of 5.9 per cent.
Zinifex's acting chief executive officer, Tony Barnes, told the media briefing that it was "not unusual for companies to take positions in companies that arise as part of M and A activity".
"We did do that. I will tell you that we are currently in the processing of liquidating our holding. It was an opportunity we saw. Things change. You know, it's not unusual."
He would not comment on whether the position being liquidated was in Oxiana.
Zinifex reported a full-year profit of $1.33 billion, up from $1.07 billion the year before but with a noticeable slowdown in the second half profit when first tax payments and the higher US exchange rate began to bite.
"Breaking the $1 billion mark last year was a significant milestone for Zinifex," Mr Barnes said. "To post a net profit this year some 24 per cent higher again is simply an outstanding effort."
Zinifex's chief executive, Greig Gailey, retired at the end of June. Mr Barnes said he would not be seeking the post.
Mr Barnes said a new chief executive could be appointed by December. The board was comfortable with the executive management team in the interim and would take its time to "make sure they get the right person", he said.
A 70 cents a share (fully franked) dividend is to be paid on November 16. The record date for entitlements is November 5 and the ex dividend date is October 30. The payment takes the total for the year to $1.40, a rise of 75 per cent. Zinifex shares closed 45 cents higher at $17.20.
The group's bumper profit reflects big increases in the prices of its key metals - 74 per cent for zinc and the 58 per cent for lead. Partly offsetting the strong metal prices was a higher US exchange rate, particularly in the second half, and an 11 per cent increase in underlying operating costs (excluding exchange rate impacts). Another 10 per cent increase in costs was forecast.
As previously announced, Zinifex is getting ready to shunt off its smelting assets into the 60 per cent-owned Nyrstar next Monday. The plan is to sell its stake into the initial public offering of the European-based Nyrstar, planned for October at the earliest.
Zinifex has yet to say what it will reap from the sale, but the market is predicting an amount between $2 billion and $4 billion for reinvestment in the group's mining business.
Mr Barnes said nervous equity markets following the subprime credit crisis selldown were expected to be sufficiently recovered to get Nyrstar away.
The reporter owns Oxiana shares.
On the back of what dutchy? Do you think the US has done enough to stop all the worries? If the subprime troubles continue... copper will fall back again, gold may hold OXR up, but if so,
$4 is a dream, as much as i would like it to be true.
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The following is part of a story in The Australian today
Any takers on who the company might be?
Any takers on who the company might be?
A contractor who works for OXR in SA at a mine site has indicated to me over coffee a few weeks backl that all the workforce is totally resigned to a takeover by BHP. Having said that, it does not mean to say that it will actually happen
I hold substantial OXR shares. It has been my most disappointing stock of the last two months. BHO, RIO, etc have bounced back nicely and gone well beyond yearly highs. What has OXR done?? Weak is all I can say.
Ideas people?? Am I being hard on them?
$4 seems a long way off still.
Low P/E
Great potential...but lacks support.
Ideas people?? Am I being hard on them?
$4 seems a long way off still.
Low P/E
Great potential...but lacks support.
I hold substantial OXR shares. It has been my most disappointing stock of the last two months. BHO, RIO, etc have bounced back nicely and gone well beyond yearly highs. What has OXR done?? Weak is all I can say.
Ideas people?? Am I being hard on them?
$4 seems a long way off still.
Low P/E
Great potential...but lacks support.
Turns out that $4 wasn't a long way off..lol
There have been some huge orders go through. 2 over 2 million and 1 over 1.5 million.
Any one have any ideas on the 7% increase today?
Australian stocks rose 1.1 percent on Monday, as nickel miner Jubilee Mines NL (ASX: JBM.ax) surged 42 percent on Anglo-Swiss miner Xstrata Plc's XTA.L takeover bid. Thats why...
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furthermore to the JBM rise is the fact that ZFX's Nyrstar float took place and the capital raised is likely to be used at making another bid for a copper and gold producer. Hence the increase in PNA and OXR today.
It aint rocket science or brain surgery to figure that one out.
It aint rocket science or brain surgery to figure that one out.
Great day!
Well, is this the time to realize profit or the time to buy more?
OXR's Q3 results are OK, so, maybe this is just an unwait light. But...yes, we are waiting for the next ZFX's speech...(Or, I don't care if not ZFX, but BHP or Teck or Freeport...)
Well, is this the time to realize profit or the time to buy more?
OXR's Q3 results are OK, so, maybe this is just an unwait light. But...yes, we are waiting for the next ZFX's speech...(Or, I don't care if not ZFX, but BHP or Teck or Freeport...)
Rocket science??? That float has been on the cards for ages...why wait until today? It has been calculated into the price for at least 3 weeks... This was purely the JBM takeover that affected this today, nothing more, nothing less (IMO)
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