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DJ MARKET TALK: Oxiana Hot Favorite After Jubilee Bid

0249 GMT [Dow Jones] Oxiana (OXR.AU) attracting a lot of attention as potential
takeover target from likes of Zinifex (ZFX.AU) after Xstrata's friendly bid at
A$23/share for Jubilee Mines (JBM.AU) - massive 35% premium to Friday's close.
Oxiana up 5.5% at A$4.00, not far from record high A$4.05. "It's got to make
Oxiana an absolute standout for a takeover," says trader. "There's only
really two mid-tier producing miners in the Australian market - Jubilee and Oxiana. You
would have to think Zinifex is a prime candidate to look at Oxiana - it would diversify
their commodity base and they've just picked up cash for Nyrstar." Another
trader says Oxiana's gold exposure is also attractive, since it hasn't run as
hard as Newcrest (NCM.AU) and Lihir (LGL.AU). Oxiana chart targets A$4.35, then A$4.65 on
break of A$4.05. Support A$3.65. (DWR)

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(END) Dow Jones Newswires
October 28, 2007 21:49 ET (01:49 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.

Monday 29 October 2007 12:49:24:400 AEST