Plucked this from the ASX Announcements website. The full report...

Plucked this from the ASX Announcements website. The full report is available as a PDF doucument, but dont know how to cut and paste it here.

I hold OXR

James

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Fourth Quarter Activities Report

Document date: Thu 30 Jan 2003 Published: Thu 30 Jan 2003 10:54:09
Document No: 200399 Document part: A
Market Flag: Y
Classification: Fourth Quarter Activities Report
OXIANA RESOURCES NL 2003-01-30 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
HIGHLIGHTS

SEPON PROJECT - 80% OXIANA, 20% RIO TINTO

GOLD

* The first gold pour was achieved at Sepon end December on schedule
and the project is expected to be completed within budget. In January
2003 commissioning is proceeding according to plan and all targets
for 2003 are expected to be met.

* Drilling at the margins of the gold orebodies presently being mined
has outlined high grade extensions. Drilling at the nearby Luang and
Vang Ngang prospects has discovered significant near surface oxide
gold mineralization. Further results are pending and further drilling
is in progress on an aggressive near mine and in field gold
exploration program.

* A combination of high gold prices and successful drilling is likely
to result in an expanded gold resource and reserve inventory.

* Oxiana gold remains debt and hedging free.

COPPER

* An optimisation study was undertaken on the Sepon Copper Project
Bankable Feasibility Study (BFS) and the Oxiana Board approved
commencement of detailed design and engineering and preliminary site
works.

* Finance structuring discussions commenced with international
resource banks.

* The 60,000 t/a copper cathode project remains on schedule for major
construction commencing October 2003 and first copper production
March 2005.


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