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

scottie,

NO, and what an awful finish today!

Oxus is fighting the krgystan governemnt over Jeeroy, EIG over the twice aborted takeover, and there are rumours of problems in Uz re newmont, and a possible government tax grab. It really can't get any worse surely?

OXS is now trading at LESS then 30p!

big jump yesterday...................even with all the problems, surely the shares were still hammered too much in my opinion.
Its mainly Jerooy thats affected price and didgy Kygrystan or however you spell it.
UK government even aids that dodgy country.

Scot,

Good start today!

Just when you thought it couldn't get any worse, it did!


Oxus Gold Hit by Shakedown in Uzbekistan

By Jon A. Nones
15 Aug 2006 at 06:17 PM EDT

St. LOUIS (ResourceInvestor.com) -- On Friday, Newmont [NYSE:NEM] said that it no longer had day-to-day control over its 50%-owned Zarafshan-Newmont Joint Venture (ZNJV) in Uzbekistan. Today, Reuters reported that the country has now revoked a licence from Britain's Oxus Gold [AIM:OXS] to develop the Khandiza base metals deposit.

According to Reuters, a government source said a state-owned copper company will develop the deposit and a foreign company will not be involved in this project.

The Khandiza asset, held by Oxus 85.78%-owned subsidiary Marakand Minerals Limited [AIM:MKD], is a high-grade zinc, silver, copper, lead, and gold deposit located in the Surkhandarya Province of southeast Uzbekistan.

Khandiza

Marakand completed a feasibility study for its primary asset in September 2004, confirming the Khandiza project as financially and technically robust.

According to company estimates, classified under the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy (JORC), mineable reserves for the first 14 years of production total 8.884 million tonnes at an average grade of 8.04% zinc, 3.82% lead, 0.97% copper, 126 g/t silver and 0.37 g/t gold.

The company calculated that total production for the first 15 years mine-life would be 9.61 million tonnes at an average grade of 7.90% zinc, 3.78% lead, 0.95% copper, 129 g/t silver and 0.37 g/t gold.

In addition to its stake in Khandiza, Oxus has other projects in Uzbekistan: its flagship property Amantaytau and the Vysokovoltnoye silver and gold heap leach deposit, as well as exploration properties Ayirakskaya and Tamdytauskaya.

Amantaytau Goldfields

According to the Oxus, initial construction work at Amantaytau Goldfields (AGF), the sulphide mining project, has commenced and includes underground refurbishment and development access. Pre-production capital expenditure is estimated at $88 million.

Reserves as classified under JORC total 2 million ounces at 12g/t, while resources total 2.7 million ounces at 12g/t. Beginning in Q1 2007, the project is expected to produce in excess of 180,000 ounces of gold annually at a cost of $167 per ounce for the first four years, and an average of 150,000 ounces of gold annually over the estimated 13-year life of mine, at a cost of $194 per ounce.

The Amantaytau open pit oxides mine has a minaeble reserve of 4.3 million tonnes of gold at 5 g/t and at total resource of 2.1 million ounces at 2 g/t. First gold was produced in December 2003 at 190,000 ounces gold annually. The mine is set up to produce 1 million tonnes per annum at a cash cost of $106/oz.

On August 10, the company said there had been no adverse change to AGFs operations in Uzbekistan, which continues to operate normally. However, the feasibility study for the underground sulphides project is still being evaluated for approval by the relevant Uzbek State authorities.

In the release, Oxus noted that it is well aware that the Uzbek Government is proposing to cancel certain tax privileges granted to various foreign investments, but AGF enjoys a 10-year protection against adverse tax changes, which is not scheduled to expire until 2010.

In comparison, Newmont thought it had 3 or 4 more years on its agreement, but now faces a $48 million tax dispute with the Uzbek government.

Vysokovoltnoye

On August 24, 2005, Oxus started its second mine on the AGF property at the Vysokovoltnoye silver and gold heap leach deposit.

Vysokovoltnoye has mineable reserves of 1.66 million tonnes of gold at grades of 127g/t and 1.13g/t and 2.33 million tonnes of silver at grades of 27g/t and 1.24g/t.

The company estimates production of 21,000 ounces of gold and 2,469,000 ounces of silver annually. The capital cost of the project is $9.1 million, with cash costs of metal production at approximately $160/oz.

The first bar of gold/silver ore was produced in early October, and full production was scheduled for January 2006.

Jerooy

Jerooy is 67%-owned by Norox Mining Company, a wholly-owned subsidiary of Oxus Gold, and is the companys only property outside Uzbekistan located in the Kyrgyz Republic.

Jerooy is the largest known unexploited gold deposit in the Kyrgyz Republic, containing total mineable reserves of 9.9 million tonnes at 7.5 g/t gold and total resources of 3.2 million ounces at 3.97 g/t. The company estimates production to be about 180,000 ounces of gold per year at a projected cash cost of $133/oz.

However, like Oxus properties in Uzbekistan, Jerooy does not come without its own trials and tribulations. For starters, the Kyrgyzstan revoked the companys operating licence in 2004 and has reportedly given it to another party.

In February of this year, Kyrgyz Prime Minister Felix Kulov said there was no reason to reinstate the Jerooy operating licence to Oxus, adding that Oxus has not fulfilled its investment obligations.

As Oxus pursued negotiations to reinstate the licence, Gunmen in Kyrgyzstan shot and injured Oxus representative Sean Daley at his home in Bishkek on July 7. He had been the point person for the company in a dispute with the government.

Then, on July 21, a Kyrgystan company, Jerooyaltyn, jointly owned by a group called Global G.o.l.d, announced that it had been awarded the licence for the Jerooy gold deposit by the Kyrgyz State Agency of Geology and Mineral Resources.

Bill Trew, CEO of Oxus, promptly responded with the following announcement:

We are not entirely surprised at this latest announcement from Jerooy Altyn, claiming to have been awarded the licence for the Jerooy gold deposit, following so closely on the attempted assassination of Oxuss representative in Bishkek. There was always the possibility that the attempt on Sean Dalys life was meant as a warning to Kyrgyz government ministers as much as to Oxus.

It is surprising that Global G.o.l.d.'s advisers have chosen not to disclose the ultimate owners of this group. It is unthinkable that they would represent Global G.o.l.d. without knowing who their client is; we, and the rest of the mining fraternity, would all certainly like to know who is behind this company!

The shadowy group behind Global G.o.l.d. (not to be confused with the U.S. based Global Gold Corporation), hide themselves away behind a fade of tax haven companies and obscure managing agents. Who knows whom they ultimately represent? They have already admitted that they have no knowledge of the gold mining business. Kyrgyzaltyn were apparently instructed to find another investor and have chosen to recommend that 60% of this major deposit is effectively handed over to one man, a Mr. Alexander Turkot, a choice which the Kyrgyz Government readily accepted.

Finally, we believe that the award of this licence is illegal under the laws of Kyrgyzstan and is in violation of Kyrgyzstan's international obligations, and Oxus will pursue all legal remedies available to it both within Kyrgyzstan and internationally, to gain its return and compensation for the delay in the start of production.

Oxus has thus far spent over $50 million on the Jerooy project and construction of the processing plant and related infrastructure are now largely complete.

Share Price Activity

Oxus stock fell 5.5 pence or 13.5% to 35 pence on the AIM today.

Since hitting its 52-week high of 86 pence in May, shares have been on a stead decline now trading at new 52-week lows.

Marakand lost 4.15 pence or 35.3% on AIM to close at 7.6 pence.

And another huge drop this morning!

Now trading at 27p MID.

Quite a dramatic fall last week, and with all it's political problems, people seem to have forgottent that Oxus are a very profitable unhedged gold and silver miner!

I feel that one the shakeout completes, OXS will be in bargain territory, and as long as they can hold onto their producing mine, AGF, without any further political interference.

Sadly, it appears what one of these FSU goverments says one day can be revoked the next, without any legal basis, and they appear to be acting as a law unto themselves.

Until the EU and world Bank start postponing aid projects to these countries, they are always going to be risky, and they appear to be becoming more so.

Just when you thought it couldn't get any worse!

======================================



Eurogold Limited
21 August 2006



EUROGOLD
L I M I T E D
(ACN 009 070 384)


21 August 2006
ASX & AIM Symbol 'EUG'


Eurogold Claim Against Oxus Gold Plc

On Friday, 18 August 2006 Eurogold Limited was granted leave to serve Australian
Federal Court proceedings against Oxus Gold Plc in the UK and Oxus Holdings
(Malta) Limited in Malta.


A directions hearing has been set for 11 September 2006.


Steps are being taken to serve Oxus Gold Plc this week.


This matter arises from Oxus Gold's repudiation of the contract to acquire
Eurogold's Mining Assets on 29 June 2006 for a consideration of AUD$27.8m
(GBP11.1m)


Peter Gunzburg

Executive Chairman


This information is provided by RNS
The company news service from the London Stock Exchange

Someone from this BB emailed me via the private message system here re Oxus and another company.

MAM private mesages do not give a return email address.

I cannot see their name here to reply to, so could you please message me again with either your poster id here, or an email address so that I am able to reply?

Andy,

Just above the message you should see the text:

The following message was sent by *******
and then a link which will take you to their profile.

Ian

Ian,

Many thanks indeed.


edit,

sadly Smiler o has not activated his email response yet!

Smiler, please go to your profile and sety up an email account!

I really have a softy spot for oxus gold. was my first 10 bagger and got me into this game.
Will put it in watch list. It's a profitable company is they have any mines left after all the above.
good luck to all those that hold.

A better day to day, may it continue ??

UP 5.5 WHEN THIS WAS WRITTEN LETS SEE HOW FAR THIS WILL TRAVEL

PARKIN

yes watching with interest !!

smiler 0

well Oxus is up nearly 50% in a few days, but any more bad political news could soon mark this down again, so I have not bought any, although I viewed them as undervalued at 20p.

Now they have confirmed legal proceedings are to commence, see RNS below;


Oxus Gold PLC - Re: Eurogold Limited


RNS Number:0859I
Oxus Gold PLC
24 August 2006


news release
Oxus Gold plc

Eurogold Limited


LONDON: Thursday,24 August 2006 - Following the announcement from Eurogold
Limited ('Eurogold') dated 21 August 2006, Oxus Gold plc ('Oxus') can confirm it
has received proceedings issued in the Federal Court of Australia , against Oxus
in the UK and against Oxus Holdings (Malta) Limited in Malta.

Oxus terminated its purchase agreement with Eurogold because a material adverse
change to the disclosed business and assets of Eurogold had occurred after
signing the agreement. A number of significant matters had become apparent,
including, but not limited to, the fact that the approved C1/C2 reserve ounces
for the Saulyak deposit are significantly lower than the 578,000 oz figure that
Oxus understood to be the approved amount.

Oxus firmly believes that Eurogold's claim is without merit and will vigorously
pursue its defence and any counterclaims against Eurogold.


End


Further enquiries:

Oxus Gold plc Tel: + 44 (0)20 7907 2000
Richard Wilkins, Company Secretary
Joanna Solino, Investor Relations Officer

Bankside Tel: + 44 (0)20 7367 8873
Keith Irons
Oliver Winters


This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCSEAFMLSMSEFA

I think we will see a further rise on tuesday,lots of buys after hours.

starting to look good.

Andy

Thanks for that, this week should be interesting !

ALL EYES WILL BE AT THE OPENING AS IT MIGHT OPEN HIGH THAN GO BACK LIKE IT DID ON FRIDAY,I MILLION BUY AT THE CLOSE LOOKS GOOD,NEED THE MOMENTUM,ANY ONE CAN GIVE SOME GOOD ADVICE AS TO WHERE THIS CAN GO FROM HERE AFTER TWO DAYS OF STRONG RISES.THANKS.

ateeq180,

Down 2p at the moment, this really is at the mercy of news now IMO.

Without an RNS update from Oxus, you cannot make an informed view IMO, to buy now would be a gamble, although there is plenty of upside should good news emerge, 20p looks to be the support line.