JB Were feedback on PNA

After reading that some brokerage house received commisions from companies for their coverage, I hope this one is real.. Nevertheless, there is nothing to lose for me to read it, as I personally also think PNA is a great company.

Some summary:

Gold Operations - now a steady-state operation.

Phu Kham - commissioning status:

• Current estimates are that the full circuit will be commissioned byend-April (no change) with 1st concentrate expected to bedispatched from the port late May/early June.
• PNA has experienced the normal commissioning issues with thecrusher circuit now expected to be operational by ~18th April (was1st week of April).
• To date commissioning delays have been technically relativelyminor, but have caused time delays.
• Punch lists developed as PNA takes control of the sections of theplant that are being systematically rectified.

Earnings and Valuation Impact: No changes.

Investment View:

• PNA has moved from explorer/developer to producer status at a time ofhigh copper prices… the risks now become operational and in our viewthe stock will continue to re-rate to reflect this change in risk.
• No change to our CONVICTION BUY recommendation.

We have no change to our positive view on PNA for the following reasons:

• Phu Kham is coming into production ahead of the original schedule, within the originalbudget and in the current buoyant copper price environment.
• Excellent earnings growth.
• Well exposed to 'the right metals' - copper and gold.
• Still remains inexpensive on near-term multiples.

Share Price $1.1812

Month Price Target $1.40

Expected 12M Total Return 18.6%

----Courtesy of simmo2001 of hotcopper

Hoping Oxiana

Hoping Oxiana... I mean Oxiana is my hope, not that Oxiana is hoping away..

Sorry about the sort of confusing title.. but I do really hope that things are getting better, for my mental health sake. Oxiana (as well as MGX) made up a big proportion on my portfolio, and at the current pace, they're just alright.

This morning Oxiana relesed it's March 2008 Quarterly Report. Not bad report, I would say, and the market seems to react well.

Here's the highlight of the report, I hope things start to pick up from here:

Sepon Copper

• Record quarterly copper production at Sepon.
• The Sepon copper expansion is on track for completion at the end of 2009.
• Significant primary copper Resources are beginning to be delineated.

Sepon Gold

• Strong gold production of 24,235oz.
• The oxide gold Resource at Houay Yeng continues to be extended.

Golden Grove

• Record volumes of ore mined and milled saw record copper production for the quarter.
• Expansion studies on schedule for open-pit mining of surface gold and copper orebodies in 2009 and expanded underground mining in 2012.
• Updated Resource modelling increases zinc Resources by 25% to 1.49Mt and copper Resources by 32% to 748,000t.

Prominent Hill

• Construction and installation work during the quarter progressed well. Mining is ahead of schedule and infrastructure is 58% complete.
• Delays in delivery of key equipment will see first production in the fourth quarter of 2008.
• Underground mining scoping studies nearing completion with first expanded production scheduled for 2011.

Martabe

• Final approvals for Indonesia proceeding on schedule.
• Preferred EPCM contractor named.
  

A presentation on this announcement is available on Oxiana's website at http://www.oxiana.com.au/.

Stuffed Up!!

I haven't written in this blog for quite a while. One of the reasons is that: It is very frustrating to be an investor in the ASX these days! Maybe I should stress it out the word 'VERY'. In my opinion, ASX has become somehow a place where a bunch of crooks ripping of retail investors, and that they can get away unscanted from it...

Okay, maybe I am 'a little' excited, but it somehow hurts me to see my hard saving money melted away in the share market. I am not working, so when I said my hard saving money, means the money that my hard working husband gave to me...

(By the way, I just said to him few hours ago, that maybe I need to get out, take whatever money left, and just wait to reenter again.. well, he's not sure about it, and said maybe the best time to buy is when everybody is panicking and selling...my investment is down about 20% now)