Here is a copy of response from Oxiana to the recent shooting.
Thank you for your email.
THE INCIDENT
Following is a direct copy of the advice issued by the Australian Government since the attack at Vang Vieng.
" This Bulletin is current for Monday 10 February 2003 EDT The Bulletin was issued on Friday 07 February 2003 16:49:35 EDT The Australian Embassy has confirmed that on 6 February 2003, a bus and other vehicles were attacked by unknown persons while travelling on route 13 about 5 kilometres north of Vang Vieng. At least 8 Lao and 2 foreigners were killed and there were many injuries. The Embassy strongly advises that Australian citizens not travel north of Vang Vieng on Route 13 to Luang Prabang.
The Lao government has temporarily halted international telephone communications in Vang Vieng, apparently stopping public Internet access and also temporarily blocked the road from Vang Vieng to Luang Prabang. It is unclear how long these actions will continue.
This bulletin should be read in conjunction with the current travel advisory on Laos, available on-line at: http://www.dfat.gov.au/zw-cgi/view/Advice/Laos "
Telephone conversations with the Australian Embassy further confirms this advice.
OXIANA'S COMMENT Oxiana has received numerous requests from shareholders regarding the attack on a Lao bus near Vang Vieng and the possible effect on the Sepon project. As part of the feasibility study for the Sepon Gold Project Martin Stuart-Fox, Professor of History at the University of Queensland prepared a Country Risk Assessment on Laos. Professor Stuart-Fox concluded that there were no internal or external threats to the stability of Laos for the foreseeable future.
Specifically in regard to internal security, Professor Stuart-Fox made the following comment:
"Internal security threats have come both from dissident Lao groups who occasionally infiltrate agents into the country to spread anti-government propaganda or set off small explosive devices, such a hand grenades, and from Hmong rebels in northern Laos who have never accepted the present regime. Most of these rebels have historic ties to the CIA-recruited "secret army" that fought the Pathet Lao in the mountains around the Plain of Jars during the Second Indochina War. Then they had hopes for an independent Hmong homeland, but now they have become little more than bandits who occasionally attack villages or ambush vehicles."
What is the effect on the Sepon project? The answer is none. The bus ambush occurred some 150 kilometres north of Vientiane in a region known for disturbances in the past and some 600 kilometres north of Sepon. Savannakhet province (where Sepon is located) is remote from any historical disturbances. There is no security response required by Oxiana due to this ambush. Oxiana already has appropriate security measures in place.
Finally, we make the observation that Laos is small, peaceful, politically stable and secure. It is very rare for violence to take place in the country and when it does, as has happened at Vang Vieng, it receives magnified attention because it is so rare.
In conclusion, Oxiana firmly believes the ambush was an isolated incident in an area known for occasional historical trouble. It does not and will not affect the progress of the Sepon Gold nor Sepon Copper projects. We have been in contact with all major stakeholders, including proposed bankers for the copper banking syndicate and have heard no suggestion from any parties that they have concerns in dealing with Oxiana or the Lao nation.
Please call should you have further queries.
Sincerely
David Waterhouse Manager Investor Relations Oxiana Resources NL 9/31 Queen Street Melbourne ph +613 86232200
News like this causes short term price fluctuations as will the price of gold. I am a long term investor and focus on the quality of the company and management along with the potential for increased gold production and the main game - copper.
OXR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
