there are some broker reports on www.oxiana.com.au which put the NPV of a fully diluted OXR at 60 to 80c, so upwards of $600m market cap. Mind you, they factor in gold prices of US300 and copper of US0.73c neither of which is right.
Even so there is a lot to like about OXR, and there are not too many junior miners with such interest from institutions and big brokers like JBWERE and ABNAMRO. They have been buying OXROAs and selling OXR to keep the price down - I suspect a reversal of this sometime in the next 3 weeks, so they can make short term profits as well as take longer term positions.
The last day of trading the OXROAs is 23/9/02 - so expect some shennanigans prior to this.
After Owen Hegarty's speech on Thursday, when he will probably increase the copper estimates and target production tonnage, there could be a nice spike in OXR, especially if the gold price keeps trending up.
SPROCKET..........
OXR
oxiana limited
