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

StockMarketWire.com
Oxus Gold has reported an H1 pretax loss of $1.4 million, form a loss of $1.0m a year ago, including costs of the arbitration process of $0.4 million and interest charges of $0.4 million.

The major portion of management's time during the past six months has continued to be that of progressing the arbitration proceedings and seeking compensation for the Group in respect of the loss of the Amantaytau Goldfields (AGF) and Khandiza mining assets.

There were no other operating activities currently being undertaken by the Company and its subsidiaries.

The Group continues to pursue the UNCITRAL arbitration proceedings against the Republic of Uzbekistan. During the period the arbitral hearing has taken place in Paris.

Pursuant to the arbitral hearing, final submissions have now been presented to the Arbitral Tribunal and the Group currently awaits the decision of the Arbitral Tribunal with regards to both the merits and the quantum of the claim.

The existing arrangement with a litigation funder to support the Company's arbitration through non-recourse funding of legal and related fees arising from the arbitration process remains in place.

At 30 June 2014 the Company had received $5.8 million of funding, which is only repayable upon the successful completion of the arbitration.

In August 2012 the Company entered into a £3 million Equity Financing Facility ("Facility") with Darwin Strategic Limited ("Darwin"). In March 2013 the terms of the Facility were amended to allow Darwin to provide the Company with a minimum amount of £100,000 per month, up to a maximum amount of £3.6 million over an 18 month period, commencing on 13 March 2013. On 1 September 2014, the Facility was extended for a further 6 months on the same terms as those announced on 13 March 2013, allowing for a further maximum draw down amount of £1.2 million.

As at 12 September 2014, no proceeds had been drawn down under the further amended terms of the Facility.

Up nicely but no idea why!

i do...watch and learn tomoro!

Still waiting..................and not getting any younger!!!

ITS COMING ..TRUST ME

Any idea what's driving this, maestro?
(Apart from RAB dumping most of their stock and of course, someone has been hoovering them up!)

I been holding these since 2009 still along away from my BE hoping for the good news on settlement.

When we win the $400million settlement the SP could easily be 50p+. Someting is brewing!

change of offices now...sounds promising...news very imminent,could break 5p today

We are about to take off into the stratosphere!

Flippin' heck! Where's Maestro? This is going down.......again!!!

back living in his cardboard box no doubt

i do hope that maestro has a top quality corrugated cardboard box for the weather is still pretty inclement

I think at one point he was living in the back of his van and hoping to upgrade to a motorhome or caravan when all of these dogs stopped their eternal slide into oblivion! None of us are getting any younger though, which means that OXS needs to get going!

perhaps he was looking with envy at fred's old banger

Starting to look interesting.

This is from their website, so the only news which is going to change things is the favourable arbitration.

"COMPANY PROFILE
Founded in 1996, Oxus Gold Plc (Oxus) listed on London’s Alternative Investment Market (AIM) in 2001 and has a 50% stake in the Amantaytau Goldfields JV (AGF) which is located in the Kyzylkum region of Uzbekistan.

Total AGF ‘Proven and Probable’ reserves were 2,839,000 ozs of gold and 6,739,000 ozs of silver (of which half are attributable to Oxus), under JORC classification.

As described in the Company's report and accounts and regulatory announcements the Company remains in dispute with the Uzbek Government over the Amantaytau Goldfields and Khandiza mining assets. There are no other operating activities currently being undertaken by the company and its subsidiaries. The Directors are continuing arbitration proceedings seeking compensation for the Group.

The Company’s focus was on the Amantaytau Goldfields(AGF) licence area in Uzbekistan. However, certain licences and permits essential for AGF's ongoing operations were not renewed. Oxus's wholly owned subsidary, Oxus Resources Corporation was forced to declare a force majeure under the AGF-JV agreements as it was no longer able to manage AGF and fulfill its obligations. International arbitration is being pursued by the Company to seek compensation for the Group. Please refer to regulatory announcements made by the company for further details."

Statement re: Appointment of Administrators
Further to the announcement made by Oxus Gold plc ("Oxus Gold" or the "Company") on 23 December 2015, following the disappointing final award of the arbitral tribunal received on 22 December 2015, Oxus Gold has reviewed its cash position and prospects and determined that it would be the appropriate course of action to place the Company into administration. After taking independent advice, the directors concluded that this was the only feasible structure under which the existing award could be challenged and any further claims brought. Accordingly, Malcolm Cohen and Shane Crooks of BDO LLP were appointed as Joint Administrators to the Company on 27 January 2016.

The Joint Administrators will review the legal position in relation to the award and any other potential claims in liaison with the third party litigation funder.

The Company's shares remain suspended from trading on AIM.

Any further correspondence to creditors and shareholders of the Company will be sent out by the Joint Administrators in due course.

ADMINISTRATION
Oxus Gold plc has announced that SP Angel Corporate Finance LLP has informed the Company of its resignation as the Company`s Nominated Adviser (Nomad) with immediate effect. In accordance with AIM Rule 1, if the Company fails to appoint a replacement Nomad within one month of the date of SP Angel`s resignation, admission of the Company`s Shares to trading on AIM will be cancelled. Oxus Gold has also announced that following the final award of the arbitral tribunal received on 22 December 2015, it has reviewed its cash position and prospects and determined that it would be the appropriate course of action to place the Company into Administration. After taking independent advice, the Directors concluded that this was the only feasible structure under which the existing award could be challenged and any further claims brought. Accordingly, Malcolm Cohen and Shane Crooks of BDO LLP were appointed as Joint Administrators to the Company on 27 January 2016. The Joint Administrators will review the legal position in relation to the award and any other potential claims in liaison with the third party litigation funder. The Company`s Shares remain suspended from trading on AIM.
Further information may follow in due course.

Trading on AIM for the under-mentioned securities has been cancelled from 29/02/2016 7:00am pursuant to AIM Rule 1.

ORDINARY SHARES OF 1P EACH, FULLY PAID (3063271)(GB0030632714)