OXR oxiana limited

a juicy tit bit for the oxr friends

  1. 7,397 Posts.
    OXR ..14.5.03



    Up and coming gold stock OXIANA RESOURCES announced a $60m capital raising underwritten by JB Were at 52c just after the close along with a Share Purchase Plan.
    The issue would have been soaked up quickly.
    Not only is OXR a "buy" in most brokers books, including JB Were's, but Aussie investors are under exposed to gold - in fact, once
    you have gone past LIHIR, NEWCREST and CROESUS, you have run out of the
    Aussie based majors.







    AND***********************************







    Meanwhile, Dow Theory doyen Richard Russell, yesterday after the
    US market closed, said it was "accumulation time for gold".
    The veteran newsletter writer pointed to China's liberalisation
    of its gold policy which will mean that in June 2003 gold will be
    available to 1.4 billion Chinese.
    "Does that sound like a random or casual policy change on the
    part of the Chinese government?
    Or is the Chinese government following a policy of
    encouraging its people to buy gold?
    The Chinese were gold-savvy long before the creation of the
    USA".
    He added, "My advice is to sit tight and let's see how the
    market looks once it erases the current overbought condition.
    "This may take patience, but so what -- the market is in no
    hurry and we shouldn't be either. ..
    "We're very early in the gold bull market.
    "Every dollar higher in gold seems like an eternity.
    "But the best action in a bull market is slow, grinding
    progress," Russell declared.
 
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