MARKET TALK: GSJBW Cuts Oxiana Earnings On Golden Grove 04/09/06 09:06:00+
0906 [Dow Jones] STOCK CALL: Goldman Sachs JBWere cuts Oxiana (OXR.AU)
earnings for next three years after visit to Golden Grove zinc, copper mine.
FY06 down 7.6% to A$319 million, FY07 down 13.4% to A$208 million, FY08 down
6.7% to A$263 million. "Lack of zinc stopes means that there will be less zinc
ore mined in FY07 with a flow-on negative impact to earnings." But says OXR
remains preferred metal exposure in ASX100. Keeps Buy recommendation. (MCE)
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OXR
oxiana limited
price drop? reduced earnings??
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