Zinifex

OZ MINERALS (OZM) Update


OZ MINERALS (OZM) is well placed to enter the ranks of the global diversified base metal miners from Australian Stockmarket analyst Macquarie Research Equities.

Oxiana (OXR)/Zinifex(ZFX) – Say Hello to OZ MINERALS (OZM)

Oxiana (OXR) / Zinifex (ZFX) News Update


MRE maintained an outperform recommendation on both ZFX and OXR, with a 12 month price target of A$12.77 and A$4.00 respectively from Australian Stockmarket analyst Macquarie Research Equities.

Oxiana (OxR)/ Zinifex (ZFX): The Arbs Are Nervous

A Review On The Resources Sector


Here is a review on the sector resources provided by Australian stockmarket analyst Macquarie Research Equities.

How High can Resources Go? A Review of the Sector

Zinifex Limited (ZFX) Results Preview


Zinifex Limited (ZFX) has a $12.77 share price target and an Outperform recommendation from Australian stock analyst Macquarie Research Equities.

ZFX: Zinc Upgrades Bode well for Zinifex

Worst Australian Stock Performers for Week 6 of 2008


AED Oil was the overall worst performing Australian stock taking in a 31.9 percent decrease in its stock price this week. Among the worst performing stocks for the week 6 of 2008 on the Australian sharemarket were a mixture of property & funds management, metals mining, financial services and oil: Valad Property (VPG), Zinifex (ZFX), Challenger Financial Services Group (CGF), AED Oil (AED), IOOF Holdings (IFL). These worst performing stocks for week 3 of 2008 recorded losses above 13.5 percent by the end of the trading week.

MFS: Worst Performer for Week Three of 2008


MFS was the overall worst performing stock this week taking on a 72 percent decrease in its share price. Among the worst performing stocks for the past week (week 3 for 2008) on the Australian sharemarket were a mixture of retail, funds management & financial services and mining companies: MFS (MFS), Centro Retail (CER), Centro Properties (CNP), Alumina (AWC), Zinifex (ZFX) and AED Oil (AED). These worst performing stocks for week 3 of 2008 recorded between 9 percent to 44 percent for their loss by the end of the trading week.

Bradken: Loser for the Week 50 of 2007


Bradken (BKN) was the overall worst performing stock taking in a 40 percent drop in its share price. Among the worst performing stocks for the week 50 of 2008 on the Australian sharemarket were a mixture of commercial explosives, mining, steel and crop protection: Dyno Noble (DXL), Zinifex (ZFX), Boart Longyear (BLY), Bradken (BKN), Nufarm (NUF). These top 6 worst performing stocks for week 50 recorded losses above 10 percent by the end of the trading week. The overall worst performing stock, Bradken had a significant gap between the next highest worst performing stock.

Downer EDI: Worst Performer for Week 44 of 2007


Downer EDI (DOW) was the overall worst performing stock taking in a 13.5 percent decrease. Among the worst performing stocks for the past trading week (week 44 for 2008) on the Australian sharemarket were a mixture of oil, mining and paper: Downer EDI (DOW), Zinifex (ZFX), PaperlinX (PPX), Roc Oil (ROC). Mining companies dominated the worst performing stock lists of both the ASX 100 and ASX 200 indices. These worst performing stocks for week 44 were ranged from 10.5 percent to 13.5 percent in their loss.

Monadelphous Group (MND) Loser


Monadelphous Group (MND) was the overall worst performing stock taking in 18.07 percent decrease. Among the worst performing stocks for the week 32 of 2007 of the Australian sharemarket were a mixture of engineering & infrastructure, steel and mining: Downer EDI (DOW), OneSteel (OST), Zinifex (ZFX), Monadelphous (MND), Energy Resource Australian (ERA), Perilya (PEM). These worst performing stocks for week 32 recorded losses above 10.4 percent by the end of the trading week. Mining companies were dominating both the ASX 100 index and the ASX 200 index in the worst performing stocks list.

Oxiana and Zinifex – Mining Merger Mania


Australian stockmarket analyst Citi Investment Research (CIR) have provided some guidance to the mining companies Oxiana and Zinifex. Both Oxiana have the potential to fill the void left by the disappearance of MIM and WMR. However, combining the two fills the void in one step. The combined enterprise value of the companies is ~$11bn and with a potential EBITDA of $2bn in FY09e, the current EV equates to an EV/EBITDA multiple of ~5.5x. Merging the two companies would result in production of ~750kt Zn, ~200kt Cu, 375koz Au, 80kt Pb and 10Moz of Silver by FY10e. This would make the company comparable to the old WMR and only a coal business away from being a Teck Cominco. EBITDA would be ~$2bn in FY09e with NPAT of ~$1.3bn. However, once CIR’s long-term prices kick in, prospective NPAT drops to ~$500m. Post the smelter spin-out, the cash position of a merged entity would be ~$4.4bn by the end of FY08e, with minimal debt. With ZFX still to appoint a new CEO, this could be the opportunity for OXR to show their wares. A beauty parade potentially awaits. Interestingly, Xstrata doubled in size with the $4.9bn takeover of MIM in 2003. Merging ZFX/OXR would essentially result in a similar size company, with enough cash to keep on growing through further deals. However, mine life still missing, the key risk would be the same risk currently experienced by both companies - the shortage of long mine-life assets. However, a cash balance of $4.4bn could go a long way to solving that problem. Given the temptations of a highly leveraged business and bank full of cash, OXR will not be the only company interested in ZFX post smelter spin out.

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