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OXR - Oxiana Limited

Discussion in 'Stocks I-P' started by Joe Blow, Jun 17, 2004.

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  1. Joe Blow

    Joe Blow Administrator Staff Member

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    This stock has been bouncing back and forth from the early 70's to the late 80's for the past couple of months.

    What will it take for it to break through $1?
     
  2. Guest

    Guest Guest

    Re: OXR

    A MIRACLE!
     
  3. Joe Blow

    Joe Blow Administrator Staff Member

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    Re: OXR

    It sure feels like that. I've been in and out of it a couple of times recently without much success.

    I definitely feel that OXR is a good long term prospect. At the moment it just seems a bit bogged down.
     
  4. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Hey Joe,

    I saw a headline on Monday (30Aug) in the AFR (finreview) that OXR had been downgraded by brokers. Couldn't read it all but worth a look.

    Looks like it's safe to accumulate at around 70c. Upside will probably kick in once people flow back into metals and energy in the next month or so. It's been quiet for the last two months for those sectors- well, for the stocks I've watched anyway!

    RichKid
     
  5. GreatPig

    GreatPig Pigs In Space

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    Re: OXR

    From its chart, it looks to me like it peaked in Nov/Dec last year and is now gradually trending downwards.

    Cheers,
    GP
     

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  6. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Hi Folks,

    Just wrote a few paras but lost it! (got logged out for some reason). So here's a summary:

    IMO, Oxiana is highly leveraged to the gold price (Just compare graphs).
    I don't see it falling below 70c support in the near term but I'm waiting for the trend to reverse or at least consolidate before buying in.
    I reckon $1 will fall before long, but maybe in a few months. Just have to wait for the next rally in gold.
    Gold is heading south again (see thread on gold) but will pick up and run further than oil did this year, IMO.
    Haven't had time to check out the financial review article on the OXR downgrade yet.
    (these are just my views (not recommendations) and I am most likely wrong- considering some of my recent trades- but the gold/OXR charts are worth comparing)

    good luck!

    RichKid
     
  7. Redwing

    Redwing

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    Re: OXR

    i believe thier last 1/4 report was disapointing.. they have great copper exposure also..

    could be a time to buy and hold?

    time will tell i guess..have a friend who loves OXR

    REDWING
     
  8. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Redwing,
    Yep, that was probably what led to the downgrade (couldn't find the article I referred to earlier on the downgrade- maybe I saw it somewhwere else). Always an opportunity when it's going down, just have to wait for the reversal.

    Come to think of it the price may not find its way down to 70c if gold bounces up again. But maybe the recent report may still weigh on the stock, I mentioned 70c as a psychological level since there isn't any obvious support below 75c.

    RichKid
     
  9. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Okay, I reckon $1 next stop for OXR, gold rising has given it a big legup and the brokers are thumbs up on it again. It didn't fall as far as I expected and the bad report is now history. Full steam ahead as OXR has broken the downtrend.
     
  10. cges

    cges

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    OXR

    Does anyone have any news why OXR stopped trading today?
     
  11. GreatPig

    GreatPig Pigs In Space

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    Re: OXR

    All the announcement says is that OXR and MNR have both halted trading pending some announcement. Trading to resume either on Wednesday or after the announcement is made.

    No idea what the announcement might be.

    Cheers,
    GP
     
  12. stockGURU

    stockGURU

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    Re: OXR

    Been a while since this thread has seen some action so I thought I'd bring it back to life. OXR is perpetually on my watchlist as it has been a reliable range trading stock.

    When GP last posted eight months ago OXR was trading around the $1 mark, it closed today at $0.91, up 2 cents. Market cap. currently around $1.15 billion.

    Any views on this one particularly in view of their recent acquisition of the Golden Grove mine from Newmont? What has been keeping it down? :confused:
     
  13. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    Re: OXR

    I own this stock.
    I think it is still undervalued.
    Why is it down? Well the price has risen substantially and profits are being taken. Also it is being valued at a two years timeframe.

    I believe profits will be higher than brokers forecasts and will rise further come the third year.

    The takeover is midly positive assuming metal prices stay high. I think they will.
     
  14. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Yep, sure is trading in a band, in fact the first post by Joe mentioned that. We are again seeing it fall back to the bottom end of the range and then recover again to be mid channel. Here's the chart, slightly slanting lower support level or you could draw a broad horizontal line around 80c, issue then is stop level as it has dipped toward the mid 70's.

    I guess medium term we may see some consolidation and then a powerful breakout through resistance. BUT that's not on the chart yet so it could just as easily fall through support. High turnover in the last year. My money is on ranging for a few months.
     

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  15. muttley

    muttley

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    Re: OXR

    Message from the MD

    "In respone to rumours in today's press concerning a potential takeover offer for Oxiana by Xstrata,Oxiana advises that it has had no contact from Xstrata and is not aware of a pending bid from that Company"

    Does anyone have any details?
     
  16. Caliente

    Caliente Black Gold!

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    Re: OXR

    both companies deny it at present. I've been holding this stock for yonks. Good to finally see some driving force behind it again!
     
  17. bvbfan

    bvbfan

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    Re: OXR

    I've had these from 10c levels but sure enough everytime I sell some they end up going for a run (sold at 98c this time)
     
  18. muttley

    muttley

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    Re: OXR

    Some upward movement on this one today.Does anyone know why?
     
  19. bvbfan

    bvbfan

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    Re: OXR

    Won't know for sure for a few days, but could be some buying ahead of takeover offer
    Personally I don't think thats it, more likely presentation at Diggers and Dealers got some interest from overseas players.
    Finanlly seeing the true value emerge

    Still kicking myself for selling at 98c
    :mad:
     
  20. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: OXR

    Yeah, I agree, hard to know when a takeover is on, so many candidates out there. And we don't know what exactly xtrata is after. Let's see if there is a pullback after today's rise to an all time high.

    I have not read this stock well at all. Yet another pattern to learn from for me.

    Tech, this must be on your scans by now for sure.
     
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