FINANCIAL SUMMARY AND FACTS		Print this page

Oxiana Limited

Summary

Headquarters – Melbourne, Australia

Stock Exchange listing

• Australia (stock code: OXR)
• Berlin and Frankfurt Listing: OXR_GR
• US Level 1 ADR code – OXFLY

Indices

• S&P ASX 100 Index,
• MSCI World Index within the Australian Standard Index announcement: Oxiana to be included in MSCI Global Index (PDF 47.4kb)

Primary Activities

• Sepon gold and copper mines in Laos
• Golden Grove zinc, copper and precious metals mine in Western Australia
• Prominent Hill copper-gold project under construction in South Australia
• Martabe gold project to commence construction in 2008 in Indonesia
• Exploration in Laos, Thailand, China, Cambodia, Indonesia and Australia.

Issued Share Capital

• 1,545 million ordinary shares, as of 31 December 2007
• 27 million unlisted options, as of 31 December 2007.

Operating Highlights

Sepon Gold and Copper Operation
The Sepon gold mine in Laos commenced production in late December 2002 and the copper mine commenced production in March 2005. An expansion of the Sepon gold operations was completed in early 2005 and the ramp-up of the Sepon copper plant was successfully completed in 2005.

Sepon - Gold Production

Gold Operations*	12 months to Dec 2004	12 months to Dec 2005	12 months to Dec 2006	12 months to  Dec 2007
Throughput – 000t	1,379	2,660	2,909	2,161
Grade – g/t	3.7	2.8	2.3	1.8
Recovery - %	85.4	84.5	83.7	81.5
Gold Produced – 000’oz	141.2	200.4	173.5	102.4
Cash costs - US$/oz	189	260	330	445
Total costs – US$/oz	281	345	480	685

Sepon - Copper Production

Copper Operations*	12 months to Dec 2005	12 months to Dec 2006	12 months to Dec 2007
Throughput – 000t	643.8	1,230	1,225
Grade – %	5.8	5.6	5.7
Recovery - %	85.9	89.5	91.2
Copper Produced – t	30,480	60,803	62,541
Cash costs - US$/lb	71	73	76
Total costs – US$/lb	88	88	93

* Above is for 100% of Sepon.

Sepon Gold Reserves/Resources (100% basis as of 30 June 2006):
Total Reserves: 267,000oz
Total Resources: 3.80Moz

Sepon Copper Reserves/Resources (100% basis as of 30 June 2006):
Total Reserves: 766,000t copper
Total Resources: 1.6Mt copper

Golden Grove
Oxiana purchased the Golden Grove zinc, copper and precious metals mine from Newmont in July 2005.

Golden Grove Production

Golden Grove Operations	12 months to Dec 2005*	12 months to Dec 2006	12 months to Dec 2007
Zinc ore throughput - t	603,507	1,003,899	1,021,065
Zinc grade - %	12.5	15.1	14.0
Recovery - %	93.2	91.4	92.1
Copper ore throughput - t	677,770	362,641	431,954
Copper grade - %	3.6	3.4	4.0
Copper recovery - %	90.9	88.1	88.2
Zinc concentrate - t	131,285	262,373	258,744
Zinc grade - %	53.6	52.9	51.0
Copper concentrate - t	90,037	48,715	67,803
Copper grade - %	24.3	22.2	22.7
Precious Metals Concentrate - t	13,877	32,772	25,374
Copper grade - %	8.8	7.1	7.0
Lead grade - %	35.6	35.5	32.0
Gold grade - g/t	45.7	44.3	55.6
Silver grade - g/t	3,462	2,173	2,698
Contained metal in products
Zinc production - t	72,761	138,817	131,954
Copper production - t	23,067	10,811	15,404
Gold production - 000'oz	27.6	50.2	48.8
Silver production - 000'oz	2,165.9	3,064	3,165.4
Lead production - t	6,393	11,634	8,119
Golden Grove total cash cost - USc/lb	28	43	30
Golden Grove total production cost - USc/lb	52	54	42

* Full year zinc, copper and gold production from Golden Grove, Oxiana ownership since 1 July 2005. 12 months figures supplied for clarity.
* Costs are per lb of zinc produced. Gold, silver, copper and lead are taken as credits.

Golden Grove Reserves/Resources
(As of 30 June 2006)
Total Resources: 1.3Mt zinc, 587,000t copper, 811,000oz gold, 41.3Moz silver, 142,000t lead
Total Reserves: 646,000t zinc, 190,000t copper, 329,000oz gold, 16.8Moz silver, 70,000t lead

View detailed Reserves and Resources information.

Prominent Hill
In August 2006 Oxiana's Board of Directors formally approved development of the Prominent Hill copper-gold mine. Construction is now underway and production of copper and gold concentrates are expected to commence in the second half of 2008.

Martabe
The Martabe gold project, in Indonesia, is one of the stand-out undeveloped mineral deposits in the region. Oxiana became the owner of the Martabe project through the acquisition of Agincourt Resources Limited in early 2007. Following the review of the Definitive Feasibility Study in December 2007 Oxiana's Board has approved development of the gold and silver project.  The Board approval is subject to the receipt of final permits from the Government of Indonesia, which are expected by April 2008. Oxiana will move into construction in 2008 with a goal of first gold production in late 2009.

Oxiana Limited Financial Summary

	Full year 2004 A$’000	Full year 2005 A$’000	Full year 2006 A$’000	Half year 2007 A$’000
Gross sales revenue	76,029	443,467	1,484,654	632,472
Other income	222	1,004	-	-
Refining & distribution costs	-	(54,298)	(209,446)	(48,312)
Royalties	(2,209)	(15,445)	(54,520)	(23,501)
Changes in inventories of finished goods and WIP	7,331	58,189	(457)	6,242
Cost of production	(40,940)	(187,168)	(245,918)	(125,363)
Employee benefits expense	(8,207)	(52,053)	(110,365)	(62,876)
Exploration expenditure written off	(5,750)	(10,751)	(20,822)	(17,975)
Net realised FX gains/(losses)	(1,017)	1,513	(7,165)	(13,614)
Other expenses	(1,031)	(12,837)	(32,298)	(12,545)
Profit on sale of investment	-	-	6,773	67
EBITDA	24,428	171,622	810,436	334,595
Depreciation and amortisation	(13,885)	(52,058)	(105,361)	(56,968)
EBIT	10,543	119,564	705,075	277,627
Finance costs	(7,027)	(36,242)	(45,778)	(22,321)
Interest income	1,288	1,702	19,308	15,454
Net unrealised FX gains/(losses)	(8,391)	(2,700)	19,560	(6,533)
Option premium expense	(679)	(774)	(2,639)	(65)
Equity accounted profit	(9)	-	(182)	(230)
Profit before income tax	(4,275)	81,549	695,345	263,932
Tax (expense)/benefit	(2,984)	(11,239)	(145,327)	(84,989)
Profit from continuing operations	(7,259)	70,311	550,018	178,943
Profit/(loss) from discontinued operations	(1,546)	855	3,148	(6,209)
Net profit attributable to Oxiana Ltd	(8,805)	71,166	553,166	172,734
Basic EPS (cents per share)	(0.70)	5	40	11.88
Dividend (cents per share)	0	1	8	4
Weighted average number of shares (millions)	1152	1,419	1,510	1,460

Related pages
Reserves and Resources
Hedging
Exchange Rate Exposure
Our Operations

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