0508 GMT [Dow Jones] Barrick Gold (ABX.T) and Newcrest Mining (NCM.AU) may be interested in buying gold asset from embattled OZ Minerals (OZL.AU), says Sydney-based investment banker, though Indonesia seen as risky investment environment. OZ will have to go via asset sale route to generate cash, needs to get money quickly; equity raising not an option given timeframe, says banker. OZ still in talks to refinance total of A$560 million by Dec. 29 deadline, shares in extended suspension. Given holidays, miner would need to do equity raising within next 10 days. "OZ needs to show banks it's willing to do something. Banks are playing hardball but there's a lot of money exposed. OZ does have good assets, and commodity demand will return," he says. OZ also says received interest for JV on key Prominent Hill copper-gold project. BHP Billiton (BHP.AU) possibly interested; good synergies with Olympic Dam close by. "The biggest issue is - who has the cash? Traditionally Rio Tinto (RIO.AU) would have had a look but not now," says banker. (EFB)
OXR
oxiana limited
