Oxiana announces rights issue to fund Sepon study

OXIANA Resources has announced a one-for-six non-renounceable rights issue at 12c a share, with each two shares taken up to have an attaching listed option convertible into an ordinary share at 25c on September 30, 2002.

The issue, to be fully underwritten by broker Peake Lands Kirwan, will result in the issue of about 55 million shares and 27.5 million options and raise about $6.6 million before costs.

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