with the support of
AUSENCO and HSBC
Thursday October 3rd at 12.30 p.m.
Presents another double-barreled investment highlight with
Oxiana CEO Owen Hegarty & Pan Aust CEO Gary Stafford
You’d more expect to find the words Ho Chi Min Trail and Long Chieng air base in the diary of Richard Nixon than amongst your portfolio papers until now that is. The stories of Oxiana and Pan Aust this month brim with gold and copper potential and offer a sense of promise and prosperity that is hard to reconcile with Laos as the most bombed nation in history. Borrowing heavily from the monumental success of Kingsgate’s Chatree mine further down in Thailand, these enterprising Australians are giving a new meaning to national service – and the markets are listening up.
Former Rio man Owen Hegarty has watched his 2000 sq km flagship Sepon property since 1993. And after crafting a clever deal to buy 80% from his former employer he is beyond buoyant with the prospects of a piece of Laos with 3.5Moz of gold and one to one-and-a-half million tonnes of copper.There’s oodles of potential oozing out of the field everywhere he says. (The last Australian that excited was on a jet at the end of a tour of duty!) The gold mine will pour the first of its 125,000 Oz of gold in first quarter 2003 and copper development will follow. Rio Tinto has Oxiana equity and by the time the current option round is fully exercised, Oxiana should be capitalised at $250m. Not bad thinks the rather smaller Pan Aust NL which is also making Laos its new focus with its 3,000 sq km Phu-Bia licence carrying the flag. It is notching up 1Moz and has extensive oxide gold targets from surface and an Ernest Henry look-alike. Laos offers good fiscal carrots and the World Bank’s IFC is happy to help as it has Oxiana. Unexploded ordinance? No sweat for Pan Aust easily manageable for Oxiana.
Don’t miss it! Julian Malnic
The Forum is held at the Tattersalls Club at 181 Elizabeth St, Sydney (adjoining the Sheraton on the Park). There has been a relaxation of dress rules at the Tattersalls Club so ties and jackets are no longer required.
Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.
Dear Sydney Mining Clubbers,
Many ‘members’ will pay $35 this month instead of their usual $30 reflecting the new schedule for charges in this flyer. Because – at least for now – the Sydney Mining Club uses a virtual membership, where people who have attended once automatically become members, we are removing the differing charges for ‘members’ and ‘non-members’ and replacing it with a flat $35 charge. If the additional cost represents a significant imposition to you, you need only let Sharon know in a return e-mail and you can stay with the $30 ‘concession’ rate. All students remain at $10 so you should remind your student friends of this. I can assure you we are working hard to minimise the cost of your forum lunches.
At some time in the future we may move to a formal membership arrangement for the Sydney Mining Club so if you have any friends and colleagues to add to our ‘virtual membership list’, that is our e-mail list, now is the time to send their name and e-mail address to Sharon.
AusIMM students $10, Concession Rate $30, Everyone else $35. Corporate Table bookings (10 people) $375.00 (incl GST) per table
Please note any bookings received after close of business on the Tuesday prior to the lunch will automatically be charged a late fee of $10 per person. .
The Sydney Mining Club
Fax bookings to 02 9416 2583
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