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

thanks for the reminder smiler ..... confess FOGL had slipped off my radar

OF Interest :

http://www.investegate.co.uk/Article.aspx?id=200712040702100798J

now we have racism from cynic!!! remember u r the obne that called me a prick!

i however will not resort to you or your mongrel immigrant comments.
remember the scots r pure unlike you.........

oh dear oh dear oh dear ...... i think someone should buy you a book of quotations or similar so you can at least crib something that will entertain ...... and at least a c*** like me can make rings round a p**** like you and certainly gives more pleasure

My rusty car is looking really good

which one in particular?

The Oxus one

true, at least for now, but do not be afraid to realise at least some profits

i'll put something about oxs on this!! and good news too on production for future and cost reduction.

Oxus Gold PLC
06 December 2007



OXUS GOLD PLC

Formal Approval for AGF Underground Project


LONDON: 6th December 2007 - Oxus Gold plc ('Oxus' or the 'Company') (OXS.L) is
pleased to announce that Amantaytau Goldfields ('AGF'), its 50% owned joint
venture company, has received formal approval from the Cabinet of Ministers of
the Government of Uzbekistan to proceed with the AGF phase 2 underground
sulphides project ('Phase 2').

Wardell Armstrong International ('WAI') has been commissioned to produce a
bankable feasibility study based on a new increased tonnage Phase 2 base case
scenario developed by AGF. As stated in the Company's annual report,
optimisation studies have been carried out which offer significant benefits over
the original design. Instead of building a new stand-alone plant, the existing
oxide CIP plant will be modified to accept sulphide ore. Since the plant
modifications are mainly adding additional processing sections, the new plant
can be constructed and commissioned without significantly affecting the existing
plant production. Construction will be subject to the normal permitting process.

Re-using the existing plant will not only optimise capital but will also reduce
lead times associated with the procurement of major equipment such as mills and
allow AGF to start feeding sulphidic ore to the plant in the second quarter of
2009. In addition, since existing plant capacity is higher than that allowed for
in the feasibility study, it is planned to increase the sulphide plant
throughput from the original design tonnage of 750,000 tonnes per annum in 2009
to 1,200,000 tonnes per annum by 2012 as the underground ore production is
expanded.

The base case also anticipates an initial expansion of the existing Centralny
phase 1 oxide open pit ('Phase 1') into the sulphide ore. This bankable
feasibility study is expected to be completed by the end of the first quarter of
2008.

A feasibility study on the project was completed by WAI in September 2005. This
original study estimated processing 750,000 tonnes a year to produce 151,000
ounces of gold annually over a life of mine of 13 years at a pre-production
capital cost of US$88 million and a total cash cost, excluding taxes, of US$194/
ounce. The new base case is expected to produce approximately 246,000 ounces of
gold annually from the existing JORC compliant Severny Measured and Indicated
underground Resources over an initial 7 year period. A total of 1.43 million
ounces of gold will be produced during this initial period at an estimated total
cash cost, excluding taxes, of US$197/ounce, and US$268/ounce including taxes.
Significant exploration potential exists to increase the mine life through a
further increase in reserves, and the mining of the existing Measured and
Indicated underground Resource of 458,000 ounces at Centralny. These estimates
are subject to the results of the bankable feasibility study being completed by
WAI.

First gold production is expected from the Phase 2 project in mid 2009 by
deepening the existing Centralny open pit mine to access the sulphide ores below
the current level, while the primary underground access for Severny is being
developed. The expanded pit design will incorporate access for the underground
declines from the pit bottom, thereby reducing the length of the declines and
allowing them to be developed in more solid ground which will reduce support
costs. An additional 86,000 ounces of gold is expected to be extracted from the
expanded Centralny pit at a capital cost of US$9.6 million, and a total cash
cost including taxes of US$613/ounce.

The existing Phase 1 oxides plant will be modified by the addition of flotation
and bio-oxidation sections to treat the sulphide ore. Construction can be
undertaken without significantly affecting existing production from the oxide
plant due to the modular nature of the plant modifications. Underground mining
will be trackless with the ore either being trucked or conveyed to the plant.
First gold production from the underground Severny mine is expected in mid 2010.
The pre-production capital cost for the underground development and associated
plant modification is estimated at US$139 million.

The plan is to treat the remaining Phase 1 lower grade oxide ores through a new
one million tonnes a year gold heap leach plant from the last quarter of 2008.
This will be constructed at the existing Asaukak mine and will be fed from the
low grade stockpiles already mined. The heap leach plant will be semi-mobile and
will be used in conjunction with the existing one million tonnes a year
Vysokovoltnoye gold / silver heap leach plant over the next 20 years in order to
mine out all the potential oxide reserves within the AGF licence area.

From mid 2010, combined gold production from the Phase 2 underground mine and
the ongoing Phase 1 heap leach open pit mines is expected to exceed 300,000
ounces a year.

The combined Severny and Centralny sulphide underground ore reserves are 9.71
million tonnes at an average grade of 7.71 grammes per tonne (g/t), containing
2.41 million ounces of gold. The ore reserve is within a combined measured and
indicated resource above a 3.5 g/t cut-off of 10.32 million tonnes at an average
grade of 9.0 g/t gold containing 2.97 million ounces of gold. There is an
additional inferred resource of 2.05 million tonnes at an average grade of 7.6 g
/t, containing a further 0.5 million ounces of gold. The ore bodies are open at
depth and previous drilling at 500 metres below the currently explored ore body
at Severny encountered 51.6 g/t gold over 8 metres. The resources and reserves
are JORC compliant and derived from the original feasibility study completed by
WAI.

Douglas Sutherland, acting Chairman of Oxus, comments 'The Phase 2 underground
project is the reason why Oxus invested in AGF. Over 80% of our resources are
contained within this project and there is very significant potential to
increase this further and to continue mining in excess of 300,000 ounces a year
for well over a decade. We are delighted to have received formal approval from
the Uzbek Government to proceed, and we shall now focus on bringing together all
the relevant resources in order to bring the project into production as quickly
as possible.'

Looks good for Oxus

yip.....zero lot paying 80p a share........thats double the share price. in fact more than triple if u go back 10 days.

yes looking good ! :)

LONDON (Thomson Financial) - Uzbek-focused Oxus Gold PLC said shareholder RAB Special Situations (Master) Fund Ltd granted Zeromax GmbH an option to buy up to 52.254 mln Oxus shares from RAB at 80 pence each, exercisable at any time until Dec 18 and extendable until Jan 31, 2008.

The option can be exercised in whole or in part, and if exercised fully, Zeromax's stake in Oxus Gold would increase to 109.254 mln shares, or 29.9 pct.

Uzbekistan-based private company Zeromax currently holds 57 mln shares, representing a 15.6 pct stake in Oxus Gold.

meanwhile sp has done nothing

give it a chance...........u cant buy shares at 7 in morning unless they give u price later on

thought markets were open already .... am currently +4 to UK ...... anyway, though only and option at 80p, guess it can't be bad, though that may be its absolute ceiling should sp ever get there in anyone's lifetime

i'm hoping to get it to about 70p so i can bail out....if it gets there, here's hoping

Why take up an option at 80p when you can buy at 40p? Are RAB ramping?

I don't think ramping halifax - both are long term holders who see the bigger picture and are confident of the way forward and the potential of this company. Also there is no way thay could fill that size buy in the market (even if they could, it would dramatically raise the price...) Strategic decision for mid to long term. Remember the SP was fairly static within the 50-60p range for a longish time and this arrangement may well have come about with this in mind.

morning ac positive news ! GPN looking cheep !

yes positive Smiler, although need zeromax to take up these options to bolster confidence..... you're right, GPN looks cheap too!