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

I hope s very cheap at the moment chart showing all the signs of reaching those levels mentioned

I hope sp is very cheap at the moment chart showing all the signs of reaching those levels mentioned

Nar1, heard u the 1st time, Oxus have somemaoney to pay this month regqarding some settlements so letsw see what that does to the SP in the next frew weeks

HHMM need a strong day tommorow..

Hold on to this one and it will be ok, still some selling to go yet.

flasher,looks like you were right !
Good rise on RNS!!!

Wow!!!
Looks like its lift off!!

Sorry to be so repetitive,
Where is everyone?

30%,BLOODY HELL!

yes hold on to your shares, this will recover very well now. I hope

Was trying to buy but MM wouldn't give a quote till now

Mr B.T still selling get him out of the way and up we go

Time to take profits ??

No way,not for me.

Nor me MACD seems to have rejected a downward turn

At a nice low price

yes it is , I use to be in Oxs but sold out at 30p.. still if you can buy @the 19p mark Who knows ??

I just topped up.... can see this bouncing up

Oxus Gold plc announces Positive Bankable Feasibility Study for Amantaytau Goldfields Underground Sulphide Project in Uzbekistan




London: June 23, 2008




Oxus Gold plc (ticker AIM: OXS.L), the Uzbekistan gold and silver producer, today announces the results of a Bankable Feasibility Study (BFS) compiled by Wardell Armstrong International on its Underground Sulphide Project at its 50% owned Amantaytau Goldfields Joint Venture (AGF).




Highlights




Development of a 1.2mtpa underground gold mine and process plant based on the current reserves at the Severny and Centralny ore deposits is technically and commercially feasible

The Project will exploit a reserve of 1.74Moz within a resource of 2.99Moz, over an initial 7 year life at the Sulphide Project, producing up to 270,000 oz gold per annum

Significant upside potential for extended life and increased reserves as the deposit is open-ended at depth with indications of occurrence of high grade mineralisation

Further geotechnical work is planned prior to underground development in order to investigate the use of lower cost mining methods than the currently planned cut and fill stoping

Total costs are an average of US$ 402 per oz gold produced over the initial 7 year life of mine, including operating taxes, royalties and management fees: the Project is in the midrange on the cost curve of gold producers and is regarded as very robust with potential for further improvement

Ungeared after tax NPV for the Project is US$ 329 million at 7% discount rate per annum, the IRR is 50% and the payback is 24 months from start of production, anticipated in Q3 2009

The Project is an extension and expansion of the existing and ongoing oxide production of approximately 70,000 oz gold equivalent per annum and therefore benefits from the existing infrastructure, existing skilled labour force and management's experience of operating in the area

The Royal Bank of Scotland plc (RBS) has been appointed as lead arranger for a limited recourse senior debt facility. Oxus anticipates 100% debt funding for the Project, thereby eliminating shareholder dilution: RBS has received the BFS and is reviewing it as part of its due diligence ahead of loan documentation




Speaking today, Chief Executive Officer Mr Richard Wilkins said:




'In light of these robust financial indicators, Amantaytau Goldfields is proceeding with the Project implementation including the commencement of purchasing long-lead items, and start-up of initial site works.




Commissioning of the plant is expected by Q3 2009 with a production level of 750,000tpa, increasing to 1.2mtpa by mid 2010. 200,000oz of gold will be produced in 2010 and 270,000oz in 2011.




Since receiving Cabinet of Ministers approval to proceed with the Project last December I am delighted with the progress that we have subsequently made including the completion of this Bankable Feasibility Study. With first sulphide production forecast for Q3 2009, Oxus is poised to quadruple its production over the next 3 years and transform itself from a junior mining company into a mid-tier producer.'




Project Description




The Project is located at the existing AGF mine site in the Navoi District of Uzbekistan, some 30 km south east of the town of Zarafshan and 25 km south west of the very large Muruntau gold mine.




The BFS is based only on the current sulphide reserves of the Severny and Centralny deposits and has not taken into account possible future production from the Inferred resource portion of the deposits nor any potential future resources at depth. An exploration programme is planned for these potential targets to increase the resources and then convert them into reserves.




The Project will be an underground mining operation accessed via 2 parallel declines, with the portals located in the northernmost location at the base of the existing Centralny Pit No 1 where the oxide ore has been mined out.




The mine design mainly utilises cut and fill mining methods with limited sub-level open stoping. The cut and fill mining method results in high physical extraction ratios and minimal dilution but is relatively expensive. Post BFS geotechnical work will be undertaken prior to underground development with a view to improving the economics further and reducing the production cost per ounce.




Production of sulphide ore will replace the Centralny open pit oxide ore which is virtually exhausted. Production from oxide ore will continue at the Vysokovoltnoye and Asaukak heap leach plants at a rate of 70,000 oz gold equivalent per annum.




The ore will be processed using bio-oxidation technology provided by Gold Fields, South Africa. The existing carbon in pulp (CIP) plant will be modified to accept the sulphide ore. The existing milling, reagent handling, elution, electro-winning and smelting sections will be retained and upgraded while the leach feed thickener will be converted to accept flotation tails. The float concentrate will be bio-digested to break down the sulphide minerals, thickened and cyanide leached in a carbon in leach (CIL) section. The plant will be constructed in two phases. Phase 1 will consist of a single flotation bank and two bio-oxidation modules designed to treat 750,000tpa of ore with the first module being commissioned by Q3 2009. Phase 2 will increase the plant capacity to 1.2mtpa and will be commissioned in mid 2010. Overall plant recovery of 88% has been used in the BFS based on 96% float and 92% CIL recovery.




Key Results of the Feasibility Study




Mineral Resources




This BFS recognises the JORC classified Measured and Indicated resource base for the Amantaytau Severny and Centralny sulphides to total 13.5 million tonnes at 6.89g/t containing 93.06 tonnes of gold (2.99 million ounces)




Upside potential




Based on the wealth of data available from Soviet times and validated by Lonhro and Oxus, Oxus is confident that there is significant potential to increase the resource base substantially. Neither Centralny nor Severny has been closed off at depth and considerable potential exists for the delineation of mineralisation below existing development levels. A single deep drill hole at Amantaytau Severny intersected mineralisation at 870m below surface comprising a drilled width of 8m* at 51.6g/t (*estimated true width based on drill section is 1.73m).




Initial Mining Reserves




Based on the above resource, JORC classified Proven and Probable reserves have been estimated for stoping blocks within a 3.5g/t cut-off at Severny and a 2.0g/t cut-off at Centralny to be 8.94 million tonnes at 6.99g/t containing 62.5 tonnes of gold (2.01 million ounces).




The total reserve in this BFS for production scheduling is 7.16 million tonnes at 7.55g/t containing 54.0 tonnes of gold (1.74 million ounces).

another share today with good news but sp down.....and a low sp at that. pathetic!

i'm becoming more convinced that shares are not for private investors.....for these dodgy hedge funds, mm's and institutions who know when to bail out or buy as they r in the know