I always thought God had steered me towards Oxiana over the years and mentioned same to a lot of people. , I was amused when I saw the profit was up 777% for the year.
It didn’t help the price of the share much. The stock market is not for the faint hearted at all !!!!
Lihir Gold (another popular share) keeps surging (it was equal with Oxiana at 1 stage) keeps heading up the last price was $3.51 (oxiana $2.87)
LHG made an average of 5c per share so its PE is 70 !!!!!!!, which on normal calculations is totally and utterly stupid!!!.
Meanwhile the OX earnt 40c per share so its PE is 6 (based on $2.39 because oxiana has $670 Mill in the bank which is approx 48c per share value)
If it was priced at the normal market average of 15 then it should be over $6.
So you can see the frustrating part of this, but also the potential upside.
That is why I hang onto Oxiana for one the long term.
OXR
oxiana limited
