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.
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