"Goldman Sachs JBWere ups Oxiana (OXR.AU) short-term rating to Outperform from Marketperform on strong production growth, falling exposure to gold. "We believe Oxiana will continually be raised as a takeover target - it is project rich and comparatively cash poor if it is to fund all the growth projects." Ups FY06 profit forecast 11% to A$93 million on lower costs reported at Golden Grove mine. Base valuation A$1.06, upside valuation A$1.36 vs latest A$1.235, down 0.5%. (MCE)"
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oxiana limited