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highlights - fourth quarter activities report

  1. jgs13

    37 Posts.

    Plucked this from the ASX Announcements website. The full report is available as a PDF doucument, but dont know how to cut and paste it here.

    I hold OXR



    Fourth Quarter Activities Report

    Document date: Thu 30 Jan 2003 Published: Thu 30 Jan 2003 10:54:09
    Document No: 200399 Document part: A
    Market Flag: Y
    Classification: Fourth Quarter Activities Report

    HOMEX - Melbourne




    * The first gold pour was achieved at Sepon end December on schedule
    and the project is expected to be completed within budget. In January
    2003 commissioning is proceeding according to plan and all targets
    for 2003 are expected to be met.

    * Drilling at the margins of the gold orebodies presently being mined
    has outlined high grade extensions. Drilling at the nearby Luang and
    Vang Ngang prospects has discovered significant near surface oxide
    gold mineralization. Further results are pending and further drilling
    is in progress on an aggressive near mine and in field gold
    exploration program.

    * A combination of high gold prices and successful drilling is likely
    to result in an expanded gold resource and reserve inventory.

    * Oxiana gold remains debt and hedging free.


    * An optimisation study was undertaken on the Sepon Copper Project
    Bankable Feasibility Study (BFS) and the Oxiana Board approved
    commencement of detailed design and engineering and preliminary site

    * Finance structuring discussions commenced with international
    resource banks.

    * The 60,000 t/a copper cathode project remains on schedule for major
    construction commencing October 2003 and first copper production
    March 2005.


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