OXR oxiana limited

age article: iron ore find

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    The following article appeared in the Age this afternoon;
    Please note paragraph referring to separate disclosure regarding an "outstanding" iron-ore discovery in Thailand.

    Does anyone have any further news on this? Could not actually locate any announcements reagarding this iron-ore find. Seems to have been swept under the carpet.

    Oxiana Resources Ltd reported a 45% drop in net profit, citing lower zinc prices and a strong Australian dollar.

    In early trading, its shares were up as much as 5.2%, or 17 cents, to $3.45.

    In a separate disclosure to the stockmarket this morning, Oxiana announced an "outstanding" iron-ore discovery at its operations in Thailand, AAP reported.

    Oxiana, which mines copper and gold in Laos and zinc in Australia reported 2007 net profit of A$305.8 million ($280.6 million) versus A$553.2 million in 2006.

    A Reuters Estimates consensus based on nine analysts' forecasts put 2007 net profit at A$309.6 million.

    Shares closed up 2.1%, or 7 cents, to $3.44.

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