OXR oxiana limited

Quarterly report

  1. 470 Posts.
    So much for that turkey who keeps telling us that the gold project is behind schedule...note plant commissioning still projected for end 2002!!!


    OXR - ASX Company Announcement
    $gen0 THIS IS A PRIORITY ITEM
    28 October 2002
    Part 1/2
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    OXIANA RESOURCES NL
    -------------------

    HOMEX - Melbourne
    -------------------------
    Third Quarter Activities Report

    QUARTERLY REPORT SEPTEMBER 2002

    HIGHLIGHTS

    SEPON PROJECT 80% OXIANA, 20% RIO TINTO

    GOLD

    Construction is on schedule for plant commissioning end 2002. In-fill
    and extension drilling at Discovery West, the first deposit to be
    mined, has outlined high grade extensions.

    Scout drilling at the nearby Luang Prospect has intersected
    significant near surface gold mineralisation.

    COPPER

    The Bankable Feasibility Study (BFS) was completed and preliminary
    results announced demonstrating world class project characteristics.
    The Khanong copper orebody is high grade, leachable, low cost and
    long life with outstanding economics and strong upside. Financing and
    more detailed engineering is now underway targetting plant
    commissioning end 2004 and first production early 2005.

    Scout drilling at the nearby Thengkham copper prospect intersected
    high grade copper mineralization over 3 kilometres of strike. The
    potential for a supergene deposit with similar characteristics to
    Khanong is considered high.

    CORPORATE

    Oxiana listed options were 99% exercised by optionholders by the
    expiry date of 30 September 2002, leaving 1% for the underwriters.
    This added $59m to the treasury and completes the Sepon Gold Project
    financing. Oxiana remains debt and hedging free.

    MORE TO FOLLOW




 
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