OXR has some significant supporters out there telling the world that The Ox is a great buy. Yesterday Charlie Aitken from Southern Cross Equities again recommended OXR along with four others as the way to make money going forward.
"The investing world hasn't worked this out yet, but they must look at +65% iron ore price rises and wonder how that happened. $100 Oil, $3.73lb copper, +100% higher coking coal, and +80% higher iron ore. How is this all happening in a US recession? It's called commodity price decoupling from the US economy and it's driven by the supply response being grossly over-estimated in time, marginal cost of production, and the basic ability to get product to market.
We remain of the view that resources will prove the market's true defensives. The leadership of the Australian market is clearly changing to resources. However, this is in its infancy. Our top 5 large cap fundamental buys remain BHP, FMG, WPL, NCM and OXR.
Not bad company to be included in.
OXR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
