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OXR - Oxiana Limited

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Nyden said:
I think the stellar run up in the price of Copper, & gold has been responsible for this moreso? Copper has gone up somewhere near 20% in a few weeks... from 3.1-3.2 to nearly 4; which has majorly boosted sentiment.
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Copper on 12th Feb 3.55/lb, now 3.86/lb. Up 8.7%.

Gold US$917 on 12 th FEB, now US980. Up 6.7%

OXR on 12th Feb 3.13, yesterday 3.97. Up 26.8%

Doesn't stand up.
 
legs said:
Copper on 12th Feb 3.55/lb, now 3.86/lb. Up 8.7%.

Gold US$917 on 12 th FEB, now US980. Up 6.7%

OXR on 12th Feb 3.13, yesterday 3.97. Up 26.8%

Doesn't stand up.
Click to expand...

Yes, but perhaps it was making up ground as copper had risen from somewhere much closer to $3 (which was the average trading price for months in late 07) (maybe back in Jan)

I'm just not convinced. If rumors were floating around; surely ZFX would have seen greater gains .... although, ZFX did go up to 11
 
& to think I nearly put in a short this morning on this

Oh well, but gosh, nearly 9% down ... ouch, pain for those that bought in over last few days.
 
bloggs_oz said:
I bought some put options in OXR on Friday. IMO this recent rally doesn't reflect the uncertainty that's in the market at the moment.
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I closed my short position today for a profit of about 115% in 3 weeks. I think the OXR share price now is reflecting the uncertainty in the market. Will it drop further??? I don't know, but happy to lock in any profits in the current environment.
 
bloggs_oz said:
I closed my short position today for a profit of about 115% in 3 weeks. I think the OXR share price now is reflecting the uncertainty in the market. Will it drop further??? I don't know, but happy to lock in any profits in the current environment.
Click to expand...

Heh, yes - I regret not putting in my short even on the 4th ... would have been a very tidy profit.

I think the exuberance around this stock has finally died (for the time being); & I honestly believe there's going to be a fair bit of further pain to come.

Gold, Copper - nice, & simple. Two very hot commodities, that might have seen OXR make a decent gain this year, but I believe this stock to now be held down by ZFX, & the awfully negative sentiment surrounding it, not to mention Zinc.
 
Good things come to those (OXR) who wait.

My 2 cents worth says that in 12 months time the SP for this magnificent middle tier miner will be $xxxx as many profitable projects actually come on line. OH has set this up for not only for himself, but us shareholders, for a wonderful ride in the next 2-5 years. Prominent Hill will be the jewell in the crown when it comes on line and is expanded.

Go the mighty OX.
 
After the merge with zinifex, it will be the 3rd largest resource company is not too shabby at all in my honest opinion!

 
Indonesia expects to give Oxiana mining permit

JAKARTA, April 9 (Reuters) - Indonesia expects to give Australian mining firm Oxiana Resources Ltd a permit, possibly by this month, to develop a gold mining project on Sumatra island, a senior mining official said on Wednesday.

Oxiana, which is looking to expand in Southeast Asia, has said it expects to spend about $310 million digging a new gold and silver mine in Indonesia.

"We are working on giving Oxiana a permit. I don't see any problem issuing a permit, possibly by this month," Simon Sembiring, director general of mining at the mining and energy ministry, told Reuters by telephone.

Oxiana hopes that its Martabe project in North Sumatra will yield 200,000 ounces of gold and 2 million ounces of silver a year for at least nine years from an open pit design, which will hinge on receiving mining permits.

 
I hope this falls a bit so I can pick up a few shares in it for cheaper, hurry up pay day lol!

Btw I haven't heard anything in ages about the progress of the merger with Zinifex, is Zinifex even considering it?
 
vishalt said:
I hope this falls a bit so I can pick up a few shares in it for cheaper, hurry up pay day lol!
Click to expand...

I seriously hope it doesn't..... - seriously......

I picked up up on the rise ~ right before the merger announcement.... quite painful....

But I plan to hold these guys for long term ~ Strong support about 3.05 ~ I don't see it dropping below that ~ =="
 
vishalt said:
I hope this falls a bit so I can pick up a few shares in it for cheaper, hurry up pay day lol!

Btw I haven't heard anything in ages about the progress of the merger with Zinifex, is Zinifex even considering it?
Click to expand...

Not due to be voted on by ZFX shareholders until " May/June 2008 ".

OXR shareholders don't get a say in the matter!

 
A bit quiet here so thought I'd check the ZFX site. Must have lost interest in the sp over there; a competition is in progress to see who can correctly guess the name of the merged co. Worth a look and a giggle. Thought I read somewhere that the merged co would be named Oxiana, but prob best to keep that thought here!
 
Hot Stock from The Age recently featured OXR:

What's new? Oxiana recently announced production figures for the March quarter, which revealed a strong performance at the Sepon and Golden Grove mines. Both operations achieved record production volumes and, although there was some evidence of cost inflation, this was more than offset by higher copper prices.

The production numbers could get even better over the next few years. A planned increase of annual copper production at Sepon will drive output to 80,000 tonnes by 2010. In 2009, Oxiana's other major project, Prominent Hill in South Australia, also comes online.

While the market has been disappointed by a number of delays that will push initial production back to the fourth quarter, 2009 is shaping up to be a watershed year for the company. Expectations remain unchanged for up to 120,000 tonnes of copper and 85,000 ounces of gold in 2009.

Oxiana's second major development is the Martabe gold and silver project in Indonesia. Construction at the site will begin once the Indonesian Government grants approval, which is expected in the coming weeks. Martabe is a huge resource estimated to contain some 6 million ounces of gold and 60 million ounces of silver. The project offers significant exploration benefits and future resource upgrades are probable in the future.

The outlook The proposed Zinifex merger will almost certainly dilute Oxiana shareholders' promising exposure to these projects. However, the merger also effectively de-risks shareholders through increased project and metal diversification. Moreover, the larger combined entity elevates the company into the major league in terms of market capitalisation. This will in our view reduce (but not eliminate) the likelihood of Oxiana being subject to a takeover offer any time soon. This is especially so given the larger resource players are somewhat preoccupied at the moment.

Price Oxiana's share-price performance has been disappointing following the merger announcement. After reaching a three-month high of $3.47, the stock fell sharply to a recent low of $2.97. We believe this is nothing more than a correction in a continuing bull trend.

Worth buying? If the company can deliver, production and earnings are set for a significant lift in 2009. In terms of value, Oxiana's consensus price-to-earnings ratio falls from more than 16 times this year to less than eight times 2009 earnings. Oxiana is cheap in our opinion and we would avoid a potential rush later this year and buy stock now.

Angus Geddes is a director of Fat Prophets Fund Management.



Also, an announcement on the Martabe project :


Oxiana has received the Construction Permit for its Martabe gold and silver project in Indonesia.
The Construction Permit, issued by the Department of Energy and Mineral Resources on behalf of the Government
of the Republic of Indonesia, is the final step in the approval process allowing construction of the Martabe project to
commence, with completion expected by the end of 2009.
The approval process for a mining project in Indonesia involves extensive liaison with, and approvals from, local
communities and provincial and national Government authorities. Oxiana is delighted to have received this permit
which meets the original approvals timeline set out by the Government of Indonesia in 2007.
The Martabe project will add significantly to Oxiana’s gold production with approximately 200,000oz gold and 2
million oz silver to be produced annually. Martabe will also be Oxiana’s first mine in Indonesia; a destination the
Company considers to be highly prospective, with exploration and development opportunities being actively
 
I am absolutely SPEWING with this trade. It clearly broke out of a symmetrical triangle yesterday on extremelly high volume, but my attention was elsewhere.

Volume still high today, so I bought based on a breakaway gap, definately one of my more indecisive trades! However, I still have it fundamentally undervalued.

Strong resistance up around $4.
 


Unusual trading volume. First I didn't find anything, but I just see this article:

http://business.theage.com.au/oxiana-surges-on-takeover-speculation/20080507-2bug.html

"Oxiana, buying Zinifex to become the world's second-largest zinc producer, rose the most in seven weeks in Sydney trading amid speculation of a possible takeover offer from Xstrata."

Well. Zinifex acquired AGM. After this, OXR acquired (Ok, friendly merger, I know) Zinifex. And now, Xstrata wants to buy Oxiana? )

Well, if it is true, I hope there will be a bigger premium than what Oxiana offered for pure Zinifex shareholders.
I think 5 AUD/share would be the minimum.
 
Yeh, there was a notice of becoming substantial holder by Barclays yesterday and today a presentation at Macquarie conference, both of which positive for OXR. I have been watching this one waiting for a set-up and breakout for a while now, hopefully this one runs on. Still angry at myself for not picking up the breakout yesterday, but what's done is done.

Volume was even stronger today, so breakaway gap looks likely, need more positive price action over the next couple days.
 
OXR share price is up to around $3.70 and ZFX hasn't risen with it.
With the merger being around 3.2 OXR shares for every ZFX, then why arn't people selling their OXR shares and buying ZFX shares now?
I suppose the merger isn't definite, and that OXR could be looking at better deals... to sell or not to sell is the question
 
Yes, the Xstrata rumour seems to getting some traction and the market thinks that ZFX won't be included in the deal.
Or at least, that's how its starting to look.

 
Although we still have a wait until the murk of the merger resolves, some headlines today which may generate some price action - in contrast to the sideways movement of the past couple of months (but then again, maybe not! - MACD crossing over):

Oxiana tips long life for SA mine
Chris Milne, Adelaide
May 26, 2008

OXIANA is eyeing a 40-year life for its Prominent Hill copper and goldmine being developed in South Australia's far north.

And the company is still evaluating potential acquisitions and looking beyond its present Australian-Asian sphere of operations, despite its imminent "mega-merger" with base-metals group Zinifex, says managing director Owen Hegarty.

Source: http://business.theage.com.au/oxiana-tips-long-life-for-sa-mine-20080525-2i2e.html
 

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OXR seems very cheap at the minute @ $3.09 - i've been reading broker reports over the past month or so with stong buys calls for oxr - these reports were made when oxr was trading at substancially higher prices - possibly a good time to top up on oxr with the timing of the small fire at Sepon dragging the price down further!!!??? although production at Sepon will be suspended for up to 2 weeks, production is still supposed to meet forecast for 2008.
 
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