Company Profile

The Oxus Group was established in 1996 and quoted on the Alternative Investment Market (AIM) in London in 2001.

Oxus Gold plc is a UK based international mining group with gold mining interests in Central Asia. Oxus is the joint owner (50/50) with the government of Uzbekistan of Amantaytau Goldfields (AGF) which is developing several mining operations in the Tien Shan gold belt near Zarafshan.

The first mine was constructed and commissioned by Oxus in January 2004 on time and within budget and commercial production began the following month. AGF has since produced more than 270,000 ounces of gold to the end of September 2005 and is now producing at the planned rate of 151,000 onces per annum.




Amantaytau - Jul 2004





Contact details

Oxus Gold plc - Head & Registered Office

Tel: +44 (0)20 7907 2000
Email: enquiries@oxusgold.co.uk

Web: www.oxusgold.co.uk


For Oxus Gold press releases, click HERE

somethings up!! more than 7M trades today

Yes a tic up & some big trades too ! :)

22 million trades!!

Oxus Gold PLC
22 October 2007


news release



For immediate release: 22 October 2007





OXUS GOLD PLC


LONDON: 22 October 2007 - Oxus Gold Plc, ('Oxus' ) (OXS.L) is pleased to
report that its 84% owned subsidiary, Marakand Minerals Limited ('Marakand' or
the 'Company') has today issued a statement announcing the convening of an
Extraordinary General Meeting ('EGM') to amend its Articles of Association to
enable Oxus to compulsorily acquire those ordinary shares of Marakand which it
does not currently own. Extracts from the Marakand EGM circular are repeated
here for the benefit of the Oxus shareholders.



Extract from Extraordinary General Meeting Circular

Proposed Amendment to the Articles

Introduction

The board of Marakand announces that it has convened an Extraordinary General
Meeting on 12 November 2007 to propose an amendment to the Articles of
Association of the Company ('Articles') to enable Oxus Gold plc to compulsorily
acquire the 16,459,073 ordinary shares of Marakand ('Ordinary Shares') which it
does not currently own ('Remaining Shares') in exchange for new Oxus ordinary
shares. The Remaining Shares represent approximately 15.96 per cent. of
Marakand's issued share capital. Assuming the resolution is passed at the EGM
and following completion of the acquisition Oxus intends to cancel admission of
the Ordinary Shares on AIM.


Background to the Proposal

Marakand is a mining exploration and development company focused on base metals
and silver. Its principal asset is its interest in the Khandiza polymetallic
deposit in South East Uzbekistan. Until recently, the Company had pursued a
strategy to acquire exploration assets in Turkey.

The Khandiza deposit contains, above a 2 per cent. zinc cut off, a JORC
classified and audited Measured and Indicated Resource containing 11.8Mt at an
average grade of 7.66 per cent. zinc, 3.65 per cent. lead, 0.91 per cent.
copper, 129 g/t silver and 0.38 g/t gold, plus an Inferred Resource containing
2.6Mt at an average grade of 5.36 per cent. zinc, 2.81 per cent. lead, 0.65 per
cent. copper, 161 g/t silver and 0.38 g/t gold.

Marakand obtained its interest in Khandiza under the Primary Exploration
Agreement. The Primary Exploration Agreement was originally entered into on 14
December 1996 between Goscomgeology (the State Committee of Geology and Mineral
resources for the Republic of Uzbekistan) and Oxus Resources Corporation ('ORC
'), which assigned it to Oxus Services Limited ('OSL') on 1 July 2002.

The Primary Exploration Agreement provides Marakand, together with Oxus and ORC,
with rights to conduct geological prospecting, prepare a feasibility study and
negotiate with Goscomgeology regarding the obtaining of an exploration licence
and the development of mining operations on the Khandiza deposit.

The feasibility study was satisfactorily completed and submitted to the Uzbek
Government as scheduled in October 2004. Subsequent progress on the project has
been limited. In August 2006, the Uzbek Government issued Presidential Decree
442, transferring the rights to develop the Khandiza deposit and related assets
from Goscomgeology to the State-owned Almalyk Mining and Metallurgical Combinat.
Since then, Marakand has been seeking to clarify the nature of its continued
role in the project with the Uzbek Government, but has had no response.

With the further passage of time, and difficulties in engaging with the Uzbek
Government, it appears increasingly unlikely that Marakand will be involved in
the future development of the Khandiza deposit.

In the event that Marakand has no future role in the Khandiza project, and in
light of the disposal of its exploration assets in Turkey, announced on 26 April
2007, Marakand would become a dormant company with no activities. However
Marakand remains the owner of the rights to the feasibility study and the
environmental and social impact assessment undertaken in relation to the
Khandiza project, together with associated geological exploration data, results
of all technical and engineering studies and financial analyses carried out
subsequent to June 1996. As at 30 June 2007, the book value of these studies was
US$9,405,000.

Following the various cost control measures which have been implemented since
January 2007, Marakand now has no full time employees. William Charter and
Oliver Prior are directors of Marakand and will continue to be directors of
Marakand until Marakand is de-listed from AIM.

Marakand has today announced, in respect of the year ended 30 June 2007, a loss
before tax of approximately US$19.4 million, after writing off approximately
US$19.1 million in respect of the Khandiza project. Net assets at 30 June 2007
amounted to approximately US$9.4 million.


Reasons for the Proposal

Oxus wishes to acquire the Remaining Shares, both to simplify the structure of
the Oxus group and eliminate unnecessary costs.

To do this Marakand has called the EGM to amend the Articles to insert a
provision enabling a shareholder who owns more than 75 per cent. of the issued
Ordinary Shares (being Oxus) to compulsorily acquire the Remaining Shares in
Marakand. This is the simplest and most cost effective method of acquiring the
Remaining Shares since they are held by more than 930 shareholders.

The Resolution will amend the Articles to permit a shareholder (being Oxus in
practice) who has acquired not less than 75 per cent. of the outstanding issued
share capital of the Company ('Acquiring Shareholder') to give notice ('
Acquisition Notice') to the minority Shareholders that it desires to acquire the
Remaining Shares. To pass the Resolution 75 per cent. of votes cast by
Shareholders at the EGM must approve the amendment.

Where an Acquisition Notice has been given by the Acquiring Shareholder it will
be entitled and bound to acquire the Remaining Shares on the terms of the
Acquisition Notice. The Directors understand that, provided the Resolution is
passed, it is the intention of Oxus to serve an Acquisition Notice on or around
19 November 2007. In this event the amended Articles would oblige Oxus to
acquire the Remaining Shares.

Upon successfully acquiring the Remaining Shares, Oxus intends to cancel the
admission of the Ordinary Shares on AIM.

Given that the longer term future of Marakand is in doubt, the Directors believe
that Oxus ordinary shares offer greater prospects of value accretion and have
more liquidity in the market than shares in Marakand. Furthermore, Oxus, as a
bigger entity, is in a better position to pursue recognition of Marakand's
rights in respect of the Khandiza deposit with Marakand as a 100 per cent.
subsidiary of Oxus.


Terms of the Acquisition

Subject to the passing of the resolution, Oxus intends to acquire the Remaining
Shares on the following basis:

For each 1 Ordinary Share held on the date of acquisition 0.135 new Oxus
ordinary share(s).

Fractional entitlements to new Oxus Ordinary Shares will not be allotted or
issued to shareholders. It is Oxus' intention to round down the number of Oxus
ordinary shares to be received by any such shareholder.

On the basis of Oxus' closing share price of 52.25 pence on 18 October 2007, the
terms of the acquisition value the entire issued share capital of Marakand at
approximately 7.3 million and the Remaining Shares at approximately 1.2
million. The terms of the acquisition represent a premium of approximately 20
per cent to Marakand's closing share price of 5.875 pence on 18 October 2007.

The Directors, who have been so advised by Arden Partners plc ('Arden Partners
'), believe that the terms of the acquisition represent a fair and reasonable
price for a minority stake in Marakand, particularly in light it appearing
increasingly unlikely that Marakand will have a role in the Khandiza project.
If Marakand does not have a role in the Khandiza project then it would become a
dormant company with no significant assets, other than the Khandiza feasibility
study and environmental and social impact assessment, and limited, if any,
prospects.


Remaining Shares

The 16,459,073 Remaining Shares will be acquired by Oxus pursuant to the
Acquisition Notice fully paid and free from all liens, charges, equitable
interests, encumbrances and any other third party rights of any nature
whatsoever and together with all rights attaching thereto including, without
limitation, the right to receive in full and retain all dividends and other
distributions (if any) declared, made or paid after the date of acquisition.


New Oxus ordinary shares

The new Oxus ordinary shares will be issued free from all liens, charges,
equitable interests and encumbrances and any other third party rights of any
nature whatsoever. The new Oxus ordinary shares will be issued credited as
fully paid and will rank pari passu in all respects with existing Oxus ordinary
shares, including the right to receive in full and retain all dividends and
other distributions (if any) declared, made or paid after the date of
acquisition.

The maximum possible number of new Oxus ordinary shares which could be issued in
relation to the acquisition is up to 2,221,795 new Oxus ordinary shares,
representing approximately 0.6 per cent. of the existing issued share capital of
Oxus. Application will be made for such shares to be admitted to trading on
AIM.


Information on the Oxus Group

Oxus is a UK-registered public company based in the UK, whose shares are traded
on AIM. Based on the closing price of Oxus ordinary shares on 18 October 2007
Oxus has a market capitalisation of approximately 191 million. The Oxus Group
was established in 1996 and gained admission to AIM in 2001. Its principal area
of activity is central Asia, primarily Uzbekistan where it is in a 50/50 joint
venture, Amantaytau Goldfields AO, ('AGF'), with the Uzbekistan Government to
develop several mining operations in the Tien Shan gold belt near Zarafshan.


Financial Information relating to Oxus and Marakand

The audited accounts of Marakand for the three years ended on 30 June 2006 and
also the unaudited preliminary results for the year ended 30 June 2007 are
available on Marakand's website (
www.marakand.co.uk

what is a 'Canaccord Adams Ltd - EPT Disclosure'?
there appear to have been several over the last week or so. Should i be concerned? i don't hold but was thinking of buying
Alex

Looks disastrous.

not that good ..... was always a dodgy play; too much legal wrangling etc

Looks good to me, what a time to buy

to use an analogy i have used several times .... rusty cars are cheap too, and with good reason

anyone know why this is going south, kidnap attempts aside?!

because the company is total crap!
the chart tells it all

cos credit crunch has made big boys sell off...........the smaller co lose more

trust cynic to turn up..........where was he 1 year ago.

away back to your own country cynic u mongrel

probably posted then too!
and if you are mug enough to be still holding here, as your post so implies, then you only have yourself to blame for any pain suffered.
to turn your metaphor .... if you lie with dogs, you get fleas!

I do remember buying from 20p down to 10p, 4 months later I SOLD FOR 50P !!! But yes a dodgy play for sure, but would be buying in if this hits 20p again :)

and at least you had the sense to bank the profit.
however it may be a questionable decision as to the wisdom in buying back even at 20p ..... the fall would not per se make the share good value

go home to your gypsy friends or wherever u came from cynic

tut tut ..... are you really reduced to personal abuse .... how pathetic .... actually my family were an infamous band of horse thieves in Poland ..... the Nazis missed at least some of them

Missed wot? The horses?

Neigh lad, the cynics :)

i knew the old donkey would not be far behind!

Boys, boys, boys! I go out for a nice lunch, only to come home and find you all fighting! :)