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Oxus Gold (OXS)     

Andy - 09 Jul 2006 13:12




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


Chart.aspx?Provider=EODIntra&Code=OXS&Si


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

smiler o - 08 Mar 2007 17:13 - 321 of 817

Kyrgyzstan to revise agrmnt with Canadian gold-mining company.



07.03.2007, 20.43



BISHKEK, March 7 (Itar-Tass) - Government of Kyrgyzstan plans revising the terms of an agreement with Cameco Corporation of Canada on gold mining at the Kumtor deposit so as to increase state budget revenues from the mines operations, Deputy Prime Minister Daniyar Ussenov said at a cabinet meeting Wednesday.

Today, the government gets a mere 15 percent of profits from gold production at Kumtor, which stands in a marked contrast to the 70 percent it received in the early periods of the deposits development.

Current reserves of gold at Kumtor are estimated at 731 tons and with account of this figure mining will continue there through to 2026, Ussenov said. Kumtor is a unique deposit in terms of reserves and it must be this countrys pride, not its shame.

The government, the national company Kyrgyzaltyn and Cameco have drafted a memorandum of understanding that is expected to lay a foundation for a Law on the Kumtor Deposit.

The goal now is to attain a new general agreement and a new agreement on concession, as well as to pass the new Law on Kumtor, Ussenov said.


smiler o - 12 Mar 2007 07:38 - 322 of 817

Oxus Gold PLC
12 March 2007


news release

For immediate release: 12 March 2007

Oxus Gold plc

Oxus announces agreement in principle to transfer Kyrgyz and Romanian interests
to KazakhGold

Dividend to be Declared

LONDON: 12 March 2007 - Oxus Gold plc ('Oxus' or the 'Company') (OXS.L) is
pleased to announce that it has agreed in principle to sell to KazakhGold Group
Limited, subject to contract ('KazakhGold') (KZG.L):

- its 100% interest in Norox Mining Company Limited, which company owns
66.67% of Talas Gold Mining Company in Kyrgyzstan;

- its 50% interest in the Romaltyn joint venture in Romania; and

- certain exploration assets in Turkey currently owned by Oxus's 86%
owned subsidiary, Marakand Minerals Limited (MKD.L), subject to board
approval from Marakand

for the issuance of 3,541,666 new ordinary shares in KazakhGold (currently
valued at approximately $72 million), plus deferred consideration of up to $80
million, payable in cash in instalments, provided that KazakhGold obtains the
requisite licence to enable it to continue with the development of the Jerooy
gold project in Kyrgyzstan. The proposed sale is subject to a number of
conditions, including completion of satisfactory due diligence, the receipt of
satisfactory independent valuations of the assets, the receipt of all necessary
regulatory approvals and consents, and completion of final legal documentation.

Oxus intends to distribute all or a large portion of the KazakhGold shares
arising from the transaction as a dividend to its shareholders and further
details will be supplied to shareholders in due course. The initial
consideration currently represents 7% of KazakhGold's outstanding share capital.

Darryl Norton has agreed to step down as a director of Oxus and to join the
board of KazkhGold as Joint Managing Director. In addition Steve Westhead and
Geoff McLoughlin, both of whom have been full time engaged on the Romaltyn joint
venture, will join KazakhGold as chief geologist and chief metallurgist
respectively.

Upon completion of the proposed sale, KazakhGold will acquire 100% of Norox
Mining Company Limited which in turn owns 66.67% of Talas Gold Mining Company in
Kyrgyzstan. Oxus has spent approximately $63 million on the Jerooy gold project
to date, including on the construction of a processing plant which is
approximately 80% complete. As previously announced, construction was suspended
in February 2006.

The Romaltyn joint venture in Romania, in which KazakhGold already has a 50%
interest, owns a gold processing plant in Baia Mare and certain exploration
licences. These assets were jointly acquired by Oxus and KazakhGold in January
2007 following a successful bid in open auction. Oxus has spent approximately
$3.8 million on the project to date, including its share of the purchase price.

The transfer of the Turkish exploration assets will be subject to KazakhGold's
assessment of the economic viability of such assets, the determination of an
appropriate fair market value to be paid to Marakand by Oxus and approval of the
Marakand board.

Oxus will continue to focus its efforts on the development of its producing gold
operations in Uzbekistan and to building the strategic alliance with Zeromax
GmbH. Apart from the ongoing oxide operations, it is intended to bring the
underground sulphides operation into production as soon as possible and to
expand Oxus's overall project base in Uzbekistan.

Bill Trew, CEO of Oxus, commented 'We are delighted to be able to make this
announcement and, upon completion, we believe the transaction will represent a
win-win situation for our shareholders and also for the shareholders of
KazakhGold. These Kyrgyz and Romanian assets, together with the experience that
Darryl, Steve and Geoff will bring to the KazakhGold management team, will add
significant value to KazakhGold's already impressive Kazak asset base.

We believe this transaction with KazakhGold provides a satisfactory resolution
for Oxus of the difficult issues involved at Jerooy. We will recover the funds
expended at Jerooy to date and will also have some further potential benefit
should KazakhGold be successful in obtaining the Jerooy mining licence. Oxus
will continue to focus on increasing its gold production in Uzbekistan and is
working closely with Zeromax in order to realise the full potential of the
Amantaytau Goldfields project and to evaluating other project opportunities in
Uzbekistan.'

The deadline for subscription of the second tranche of new ordinary shares of
Oxus by Zeromax, announced on 30 November 2006, has been extended to the close
of business on 19 March 2007.

smiler o - 12 Mar 2007 07:41 - 323 of 817

Marakand Minerals Limited
12 March 2007



For Release
12 March 2007
MARAKAND UPDATE

Marakand Minerals Limited ('Marakand', or the 'Company') (MKD.L), the Eurasian
base metal and silver company, has been advised by its parent company and 86%
shareholder, Oxus Gold plc ('Oxus') (OXS.L), that Oxus has agreed in principle
and subject to final contract, to sell certain assets to KazakhGold Group
Limited ('KazakhGold') (KZG.L), including certain exploration assets in Turkey,
currently owned by Marakand.

The Board of Directors of Marakand confirm that any agreement between Oxus and
KazakhGold in respect of the sale of such Marakand assets will require Marakand
board approval and, in addition, any such sale will be subject to the
determination of an appropriate fair market value to be paid to Marakand by Oxus
for these assets. Marakand shareholders will be kept informed of any
developments.

As announced in on 1 August 2006, Marakand entered into exclusive option
agreements to acquire majority interests in two separate copper / gold
exploration license areas in southern Turkey, namely the Hatay exploration
license and the Karakilise exploration license. Both license areas are located
in the prospective southern Turkish 'ophiolite belt' related to the Cyprus Arc,
and host 'Cyprus-type' copper / gold mineralisation. Exploration works,
including surface drilling, have previously been undertaken on both license
areas.

In February 2007, Marakand completed a further programme of stream sediment
sampling, geological mapping, surface channel sampling and a 10 hole surface
drilling programme on the Hatay license. Marakand has dispatched channel and
drill core samples to an independent laboratory for analysis, and will be
reporting results as soon as they are available and evaluated

ajcc - 12 Mar 2007 07:43 - 324 of 817

Morning Smiler - interesting stuff - just absorbing the news announcements released.....

smiler o - 12 Mar 2007 07:44 - 325 of 817

you should be in bed !! your on holiday !!!!!!!

ajcc - 12 Mar 2007 08:02 - 326 of 817

Smiler - how do you know i'm not?!! Seriously though , should be interesting to see the market reaction to this news!

smiler o - 12 Mar 2007 08:05 - 327 of 817

watching with interest !! just got in , and back in tonight !!!

ajcc - 12 Mar 2007 08:06 - 328 of 817

you nutter!! So far so good on the SP (share price that is!)

smiler o - 12 Mar 2007 08:09 - 329 of 817

yes a nice bit of blue !!

smiler o - 22 Mar 2007 09:01 - 330 of 817

March 21, 2007

Oxus Gold Has A Powerful Friend In KazakhGold And A Brighter Future

By Jack Hammer

The Russians have Polyus. The Kazakhs have KazakhGold. And now, according to Oxus executive director Richard Wilkins, Uzbekistan is about to get its own champion. It would be nice to see the equivalent, an Uzbek Gold, emerging, he says in the wake of Oxuss recent deal with KazakhGold to divest itself of assets outside of Uzbekistan.

That deal has turned the Oxus story full circle. It now looks very much like the Oxus Gold of old, the one that listed back in July 2001 with a focus on the Uzbek Amantaytau gold project, but which couldnt pay its bills, and then got taken over by Bill Trews contracting company. This back to basics approach follows a disastrous 2006 for the company. Recurring doubts about the Jerooy gold project in Kyrgyzstan and a US$200million tax dispute with the Uzbek government pushed Oxuss shares down to 9p back in October, perilously close to the price at which Mr Trew staged his successful coup all those years ago.

But it looks as though hes pulled the company back from the brink once again. The shares are now hovering at around 50p, more than fifty per cent up on the 30p 2001 listing price. The major institutions that have stuck by the company can breathe easy again, while anyone who bought in at the 2002 all time low of 4.25p when Mr Trew took control is laughing all the way to the bank.

A lot of water has flowed under the bridge since then. Crucially Mr Trew took Amantaytau successfully into production. But trouble never seemed far away. Most damaging has been the saga surrounding Jerooy. As long ago as 2002 the company was promising that a resolution to the dispute over title there was only a matter of weeks away a quick trip to Bishkek would sort it out. Come March 2007, and it looks as though, five years on, Oxus has finally found a way out. The solution? Let KazakhGold have a try.

The recent recovery in Oxuss fortunes is down to two other key players aside from Mr Trew in his team. They have a common factor: Zeromax and KazakhGold are both, in their own ways, serious regional players. Zeromax is the investment vehicle of Uzbek businessman Miradil Djalalov, who has interests in oil and gas, agriculture, and textiles, and who now holds 16 per cent of Oxus. And as a 200,000 ounce plus producer, KazakhGold needs little introduction, but its interesting to note that MAED, Bills original company, has been cosying up to it too, having been recently engaged to advise on the construction of Carbon-in-Pulp plants in Kazakhstan.

With these big hitters on board, things have moved on apace. After Mr Djalalov came in, back in November, about a month after Oxuss tax problems started to get really serious, the claims were quickly settled. To be fair, once we started talking and we got into the court system the Uzbek legal due process proved to be reasonably fair and very efficient, says Mr Wilkins. The Oxus team are no strangers to Uzbekistan and its ways, but no doubt Mr Djalalov brought added experience and know-how in.

It remains to be seen whether KazakhGold can sort out Jerooy, but, says Mr Wilkins, If anyone can clean up this mess, its the Kazakhs. That seems a reasonable view, and at least, following the sale of Jerooy for US$72million in KazakhGold shares, Oxus has got back its Jerooy investment. If KazakhGold does get Jerooy up and running it will trigger another US$80million cash payment, so its understandable that Mr Wilkins calls it an elegant solution, and says that his institutional investors like the deal.

Oxuss other spot of bother a legal spat with Peter Gunzbergs Eurogold is not, says Mr Wilkins, taking up very much time or cost now, so it seems Oxus has virtually wiped the slate clean. It will now concentrate on developing the sulphides at Amantaytau, and says Mr Wilkins, focus back on Uzbekistan with our colleagues Zeromax. And what of Bill Trews old promise of five mines in five years, made several years ago? Well, says Mr Wilkins, one could still imagine five mines in five years. It just might not be the same five mines.


smiler o - 23 Mar 2007 09:54 - 331 of 817

Oxus Gold PLC
23 March 2007



Oxus Gold plc ('Oxus' or 'the Company')

Holdings in Company


Oxus received notification on 20 March 2007 pursuant to the provisions of the
Companies Act 1985 that as of 16 March 2007, RAB Capital plc, on behalf of its
affiliates, RAB Special Situations (Master) Fund Ltd., has a total of 88,979,020
ordinary shares representing 29.01 per cent. of the ordinary issued share capital
of the Company.

For further information, please contact:

Oxus Gold plc

cynic - 23 Mar 2007 10:13 - 332 of 817

surprisingly large stake and of course very close to enforced t/o trigger, except that shares look to be held in a specifc fund rather than in a (potential) nominee a/c

smiler o - 02 Apr 2007 08:34 - 333 of 817

Oxus Gold PLC
02 April 2007



news release



For immediate release - Monday, 2 April 2007







OXUS GOLD PLC



Interim results for the six months ended 31 December 2006



LONDON: Monday, 2 April 2007 - Oxus Gold plc ('Oxus') or ('the Company') is
pleased to report its interim results for the six months ended 31 December 2006
(the 'period').



Highlights



Net loss on ordinary activities of $4.214 million compared to a net profit
of $4.293 million for the same period for 2005.



AGF reports $2.440 million loss for the period and $8.855 million profit
for the year ended 31 December 2006.



AGF operations materially disrupted by a State 'complex' tax, customs and
compliance audit, but normal operations now being restored.



Uzbek courts reject $224 million out of a total $225 million in tax and
customs claims arising from the State audit.



AGF Vysokovoltnoye project has to date produced 2,814 kgs of dore
containing 74,351 ounces of silver and 2,552 ounces of gold. Refining
contract signed and first silver sales expected in April 2007.



AGF Vysokovoltnoye plant stockpile of 62.78 tonnes of concentrate
containing 617,508 ounces of silver and 7,864 ounces of gold.



Production commenced at AGF's Asaukak oxide deposit.



AGF's exploration activities focus on finding new oxide resources and
extensive exploration programme planned for 2007.



Encouraging results from further metallurgical testwork at AGF's
underground sulphide project.



Agreement in principle to sell Kyrgyz, Romanian and Turkish interests for
minimum consideration of 3.54 million KazakhGold shares, currently valued at
approximately $81 million with potential additional consideration of up to
$80 million in cash conditional on KazakhGold obtaining a licence to develop
the Jerooy gold project.



Zeromax, Uzbekistan's largest private sector company, purchases a 6.94%
strategic stake in the Company.




FINANCIAL RESULTS



The Group reported an unaudited loss on ordinary activities of $4.214 million
for the six months ended 31 December 2006 (2005: $4.293 million profit) and a
loss of $4.232 million (2005: $3.779 million profit) after taxation and minority
interests.



The Group's activities during the period were adversely affected by a State '
complex' tax, customs and compliance audit carried out by the Uzbek authorities
at the Amantaytau Goldfields (AGF) project in Uzbekistan, which materially
disrupted the ongoing operations at AGF. As a result AGF contributed a loss of
$1.220 million (2005: $4.521 million profit) towards gross revenue, being the
Group's 50% share of the loss for the six month period. However, AGF reports a
profit of $8.855 million (2005: $13.263 million) for the year to 31 December
2006 after tax and debt service.



OPERATIONS



The following table summarises AGF's operating results for the six months to 31
December 2006.




AGF Operations

6 months 6 months 6 months Year Year
31/12/06 30/6/06 31/12/05 31/12/06 31/12/05

Ore mined, tonnes 454,400 770,900 746,700 1,225,400 1,567,500
Ore processed, tonnes 561,100 814,300 795,400 1,375,500 1,465,500
Average grade (g/t) 2.4 3.4 4.3 3.0 4.5
Average gold recovery (%) 80.6 69.8 76.7 73.4 77.1
Gold produced, ounces 35,235 62,818 84,119 98,053 161,615
Gold sales, ounces 27,499 62,843 91,195 90,342 163,666
Hedge ounces 0 0 76,699 0 140,307
Spot ounces 27,499 62,843 14,496 90,342 23,359
Average gold price per ounce ($) 608 594 353 598 346
Average cash cost per ounce ($) 536 329 196 392 202
Average total cost per ounce ($) 623 366 221 445 230
Net profit (loss) after tax & debt (2,440) 11,295 9.042m 8,855 13,263
service ($m)




During July and August 2006 AGF underwent a State 'complex' tax, customs and
compliance audit as part of the established regulatory procedure. All
enterprises in Uzbekistan are subject to this procedure every three years. As a
result of the audit, the State tax and customs authorities claimed approximately
$225 million in taxes, customs duties, fines and penalties for alleged breaches
of the Uzbek tax law. Subsequently the Navoi Regional Economic Court and the
Tashkent Supreme Economic Court have rejected $224 million of these claims. Oxus
made provision within its annual accounts to 30 June 2006 to cover its 50% share
of the outstanding liability of $1 million.



The State audit materially disrupted the ongoing operations of AGF due to
various restrictions imposed on assets and bank accounts whilst the tax and
customs claims were passing through the Uzbek legal process. Although operations
were able to continue at a reduced level, AGF was unable to operate at maximum
efficiency resulting in accelerated depletion of oxide ore stockpiles and a
subsequent reduction in the grade and quality of ore feed to the processing
plant and reduced plant running times. In addition the financial disruption led
to shortages of diesel, lime and steel balls, and interruptions to the refining
process. As a result, at 31 December 2006 approximately 16,000 ounces of gold in
refined or dore format had been stockpiled. This gold has been sold during 2007
and as various restrictions have been lifted, normal operations are now being
restored. Gold production for the latter half of 2006, however, was still well
below target.



Production at Vysokovoltnoye was also disrupted although the irrigation of the
stacked ore and the operation of the Merrill Crowe plant continued throughout
the period. Hence production of concentrate continued. At 31 December 2006 a
total of 358,800 tonnes had been stacked, all of which was under irrigation, and
to date 2,814 kgs of dore containing 74,351 ounces of silver and 2,552 ounces of
gold have been produced. In addition to this the plant has stockpiled 62.78
tonnes of concentrate containing 617,508 ounces of silver and 7,864 ounces of
gold. A new smelting furnace will be commissioned during April and a refining
contract with the Almalyk Mining and Metallurgical Combinat has now been signed.
First silver sales are expected in April and are then scheduled to average 5
tonnes per month for the remainder of 2007, increasing to 8 tonnes per month in
2008 with increased production and improved refinery performance.



During the period AGF also paid approximately $3.5 million in taxes that it had
previously been exempted from by virtue of tax privileges granted to AGF by
decrees of the Uzbek Government. AGF's legal advisers maintain that Oxus, as a
foreign investor, is protected under Uzbek law from adverse changes to its
investment environment until 2010. Discussions are currently underway with the
Uzbek Government with a view to mitigating the impact of these additional taxes,
and Oxus is hopeful that a positive outcome will be forthcoming.



Underground Sulphides Project



The underground AGF sulphides project study is currently receiving final
comments from the relevant Uzbek State authorities, and the study is expected to
be submitted for final approval during May. This report will provide the
positive go-ahead for AGF to develop the sulphides project.



The sulphides project is designed to mine the deeper sulphide extensions to the
oxide ore bodies currently being mined by open pit methods by AGF at Centralny
and also to mine the underground Severny ores. Combined they contain ore
reserves of 9.71 million tonnes at an average grade of 7.71 g/t containing 2.41
million ounces of gold, within a mineral resource of 12.4 million tonnes at an
average grade of 8.7 g/t and containing 3.5 million ounces of gold at a cut-off
grade of 3.5 g/t gold. The total mineral resource is 17.73 million tonnes at an
average grade of 6.84 g/t containing 3.9 million ounces of gold at zero cut-off
grade. The project is expected to commence production in 2009 and will produce
an average of 6.8 tonnes of gold annually.



AGF has also commenced testwork and investigations into the option of creating a
superpit from the existing Centralny oxide pits. This transitional and sulphidic
ore would be fed to a modification of the existing oxide processing plant. If
economically viable, initial capital costs would be greatly reduced and first
production from the project would be accelerated. A proposal to carry out the
scoping study for this option is currently being compiled.



Exploration



Exploration activities during the period continued to focus on finding new oxide
resources and proving up new reserves for AGF. Initial grade control evaluation
has been completed for the upper benches of the Asaukak deposit. Pre-stripping
is now completed and ore production started in the first quarter of 2007.



Pit designs have been prepared for the Uzunbulak deposit, and are currently
being submitted to the relevant Uzbek authorities for approval prior to
finalising production schedules and revising the operational reserve estimate.



Work has progressed on new deposit models for the Northern Asaukak, Aksai and
Sredinny deposits. Final resource definition reverse circulation (RC) drilling
for these deposits remains to be completed in the first half of 2007, prior to
completing wire framing and geostatistical modelling. In addition RC drilling is
scheduled in 2007 for the Sredinny South, Aksai North, North Western and
Northern Daugystau deposits. A detailed RC drilling programme is planned for
2007 at a cost of approximately $2.3 million, and a tender has been issued for a
new RC drilling contract.



Trenching and sampling is also planned for the Aksai North, North Western and
Northern Daugystau deposits.



The Amantaytau underground sulphide project is regarded as AGF's future main
source of high grade ore, and a programme of geotechnical drilling has been
completed as part of the decline access design. A total of 659 metres of
drilling was carried out using AGF's CS14 coring rig. Metallurgical testwork has
been carried out on the Amantaytau Severny sulphide ores and their amenability
to ultra fine grinding (UFG) and flotation as an alternative to biological
oxidation, which was the process technology originally selected. Testwork on UFG
of the sulphidic ores has produced very encouraging results. After initial
flotation the UFG results show that recoveries of almost 95% are achievable.
Additional sampling and testwork programmes are now being established.



Five holes have been drilled, again using AGF's CS14 rig, from the base of the
Amantaytau Centralny oxide pits, to intersect 'transition zone' and 'primary
sulphides' and provide further material for ultra fine grind and flotation
testwork. Consideration is being given to the deepening of the Centralny oxide
pits (now exhausted) into the underlying sulphides, as this may enable
production of high grade sulphide ores to be accelerated, in advance of Severny
underground sulphide production.



TRANSFER OF KYRGYZ AND ROMANIAN INTERESTS TO KAZAKHGOLD



On 12 March 2007 Oxus announced that it has agreed in principle to sell to
KazakhGold Group Limited (KazakhGold) its 100% interest in Norox Mining Company
Limited, which owns 66.67% of Talas Gold Mining Company in Kyrgyzstan, its 50%
interest in the Romaltyn joint venture in Romania, and certain exploration
assets in Turkey currently owned by Oxus' 86% subsidiary, Marakand Minerals
Limited, subject to Marakand board approval. KazakhGold is listed on the London
Stock Exchange (KZG.L).



The consideration for the sale of the assets will be satisfied by the issuance
to Oxus of 3,541,666 new ordinary shares in KazkhGold (currently valued at
approximately $81 million), plus a deferred payment of up to $80 million in
cash, payable in instalments, provided that KazakhGold obtains the requisite
licence to enable it to continue with the development of the Jerooy gold project
in Kyrgyzstan. Appropriate due diligence and asset valuations are currently
underway, together with the drafting of the relevant legal documentation and it
is hoped that the transaction can be completed as contemplated during April.



Oxus has spent approximately $65 million on the Jerooy gold project to date,
which is currently the subject of an investment dispute and international
arbitration. This expenditure includes the construction of a processing plant
which is approximately 80% complete. Construction was suspended in February
2006.



The Romaltyn joint venture in Romania, in which KazakhGold already has a 50%
interest, owns a gold processing plant in Baia Mare and certain exploration
licences. These assets were jointly acquired by Oxus and KazakhGold in January
2007 following a successful bid in open auction. Oxus has spent approximately $4
million on the project to date, including its share of the purchase price.



The transfer of the Hatay and Karakilise exploration licences in Turkey will be
subject to KazakhGold's assessment of the economic viability of such assets, the
determination of an appropriate fair market value to be paid to Marakand by
Oxus, and approval of the Marakand board.



OTHER ACTIVITY



On 30 November 2006 Oxus announced that it had signed a subscription agreement
with Zeromax, Uzbekistan's largest private sector company, which brings Zeromax
into Oxus as a strategic investor and alliance partner. Pursuant to that
agreement Zeromax has purchased 22,255,293 shares and currently owns 6.94% of
the Company. The original subscription agreement provided for Zeromax to
purchase up to 57 million shares at 21.5 pence per share. Oxus has received a
written commitment from Zeromax that the balance of the subscription shares will
be paid for by 6 April 2007.



As announced in July 2006 Oxus terminated its contract to acquire the Ukrainian
assets of Eurogold when it became apparent that Eurogold's approved C1/C2 gold
resources were not 578,000 ounces as the Company had been led to believe, but
only 364,000 ounces. Oxus offered to pay for the approved ounces, and for the
balance once proved up. Eurogold rejected this offer and commenced litigation in
the Australian Federal Court. Oxus has opposed the jurisdiction of the Court and
awaits the Court's decision. Costs of $482,000 have been incurred during the
period with respect to this litigation.



On 4 August 2003 the Company cancelled 5,000,000 warrants for shares exercisable
at 15.25 pence per share, believing that it was entitled to do so. The grantee,
Templeton Insurance Limited, disputed this cancellation, and following
litigation the warrants were ordered by the court to be reinstated. In the
litigation the grantee asserted an entitlement, under an adjustment provision in
the original warrant deed, to an additional 3,313,380 warrants. The Company
disputes this entitlement and the results of a recent court hearing are
currently awaited. During the period a further $2.35 million was charged to the
profit and loss account, representing additional legal costs of $1.1 million and
a provision of $1.25 million to reflect a reduction in the value to the Company
of the reinstated warrants based on the Company's share price at 31 December
2006.



The Board has decided to cancel a total of 2,705,000 options, of which 2,675,000
were held by directors, and which were exercisable at 54p and were due to vest
on the first gold pour at Jerooy.

smiler o - 26 Apr 2007 16:04 - 334 of 817

Oxus Gold PLC
26 April 2007



Oxus Gold plc


Oxus sells Kyrgyz, Romanian and Turkish interests to KazkhGold


LONDON: 26 April 2007 - Following its announcement on 12 March 2007, Oxus Gold
plc ('Oxus' or the 'Company') (OXS.L) is pleased to announce that it has signed
an agreement with KazakhGold Group Limited ('KazakhGold') (KZG.L) for the sale
of the following assets:


- its 100% interest in Norox Mining Company Limited. Norox owns 66.67%
of Talas Gold Mining Company in Kyrgyzstan;

- its 50% interest in Romaltyn Limited; and

- a 25% interest in Hatay Madencilik SA and the right to an option
relating to the Karakilise copper deposit licence in Turkey, currently
owned by Oxus 86% subsidiary, Marakand Minerals Limited;


(together the 'Sale Assets').


As consideration for the purchase of the Sale Assets, Oxus will receive
3,541,666 new ordinary shares in KazakhGold (currently valued at approximately
$82 million) ('KazakhGold Shares'). In addition deferred consideration of up to
$80 million is payable in cash within 30 days of KazakhGold acquiring, or
acquiring the benefit of, a licence to mine the Jerooy gold deposit in
Kyrgyzstan and commencing development or production at Jerooy. The initial
consideration represents approximately 7% of the enlarged share capital of
KazakhGold.


The sale will complete upon the delivery of the appropriate title documents,
including the share certificates and transfer documents in respect of the Sale
Assets by Oxus in exchange for the KazakhGold Shares. Completion is expected to
occur on or about 15 May 2007.


Oxus intends to convert the non-trading KazakhGold Shares into tradeable global
depositary receipts ('GDRs') and to deposit them into KazakhGold's GDR
programme. KazakhGold GDRs trade on the London Stock Exchange, with one GDR
representing one share.


As previously announced, Oxus intends to distribute all or a large portion of
the KazakhGold GDRs by way of a dividend. For those Oxus shareholders who may be
prohibited from receiving the GDRs due to US securities legislation, it is
intended that a cash alternative will be offered. Further details regarding the
dividend will be supplied to shareholders in due course.


Bill Trew, CEO of Oxus, commented 'We are delighted that we were able to reach
an agreement so quickly and we now look forward to completing the transaction.
We believe this transaction represents a very positive outcome for our
shareholders, particularly as it will enable them to benefit from any positive
developments at Jerooy. We also look forward to returning value to our
shareholders by way of dividend. The Company will continue to focus on
increasing its gold production at Amantaytau Goldfields in Uzbekistan and to
evaluating other opportunities as they arise.'



smiler o - 10 May 2007 17:46 - 335 of 817

LONDON (Thomson Financial) - Oxus Gold PLC said its Amantaytau Goldfields project stands to make cash savings of some 17 mln usd after the Government of Uzbekistan granted tax deferrals to the Phase I Oxides development.

The deferred taxes and duties will become payable in 6 monthly instalments starting from Nov 1 2008. This liability will be financed as part of the capital cost of the Phase II Sulphides Project, Oxus said.

It estimates the cash saving to Amantaytau Goldfields (AGF) during this 18 month period will be some 970,000 usd per month.

AGF is also in the process of agreeing a new mechanism for recovering VAT paid, including an offset against various taxes currently payable. As a result, the group said restrictions previously imposed on AGF's bank accounts have been largely reduced, and are expected to be removed altogether as these discussions are finalised.

Oxus CEO Bill Trew said the deferral of these taxes will have a significant impact on AGF's current oxide operations, and the group now has every incentive to move the sulphides project forward as quickly as possible.

'We continue to assess the viability of a sulphide open pit as an extension to the existing Centralny oxide pit with a view to accelerating production from the sulphides and reducing initial capital costs,' he added.

Trew said the Uzbek Government has given the group clear instructions to speed up the sulphides project and, all going well, it would hope to have first production from a sulphide open pit by the end of next year.

tf.TFN-Europe_newsdesk@thomson.com

smiler o - 11 May 2007 08:21 - 336 of 817

LONDON (Thomson Financial) - KazakhGold Group Ltd said it has completed the transaction with Oxus Gold PLC to buy Norox Mining Co Ltd, issuing 3.54 mln of its shares to Oxus valued at about 75 mln usd.

KazakhGold said the transaction also included 50 pct of Romaltyn Ltd, the right to an option relating to the Karakilise copper deposit licence in Turkey from its Oxus Resources Corp subsidiary.

However KazakhGold has not acquired the 25 pct interest in Hatay Madencilik SA.

Separately, Oxus Gold said it has begun the process of converting these non-trading KazakhGold shares into tradeable global depository receipts, which trade on the London Stock Exchange, with one GDR representing one share.

It reiterated that it plans to distribute all or a large portion of the KazakhGold GDRs by way of a dividend.

smiler o - 03 Jun 2007 12:23 - 337 of 817

news release

For immediate release: Friday, 1 June 2007

OXUS GOLD PLC

Distribution by Oxus of its holding of KazakhGold GDRs

LONDON: 1 June 2007 - Oxus Gold Plc, ('Oxus' or 'the Company') (OXS.L) has today
mailed a circular to convene an extraordinary general meeting of the Company
('EGM') at 11.00 am on Wednesday, 20 June 2007, for the purpose of seeking
shareholder approval for the distribution to shareholders of a dividend in
specie of KazakhGold Group Limited ('KazakhGold') global depositary receipts
('GDRs') held by Oxus.

On 12 March 2007 Oxus announced that it had agreed in principle to sell to
KazakhGold its Kyrgyz, Romanian and certain Turkish assets in consideration of
the issue to Oxus of 3,541,666 new KazakhGold shares. The transaction was
completed on 10 May 2007.

The KazakhGold shares received by Oxus, which are not trading on any exchange,
have been converted into KazakhGold GDRs, on the basis of one share being equal
to one GDR, and these have been admitted to the Official List and to trading on
the main market of the London Stock Exchange.

Conditional on shareholder approval Oxus will distribute the KazakhGold GDRs to
shareholders on the basis of one GDR for every 110 Oxus shares held at the
record date of Friday, 22 June 2007. Fractional entitlements arising from
individual holdings of Oxus shares which are not exactly divisible by 110 will
be aggregated and retained by Oxus for the benefit of all shareholders.

The KazakhGold GDRs can only be held electronically and Oxus shareholders who
currently hold their Oxus shares in certificated form will need to arrange for
the GDRs to be held in a CREST account before distribution to them can be made.
Full details of the arrangements they will need to make are included with the
circular sent to shareholders.

A KazakhGold GDR is a bank certificate issued by the Bank of New York which
represents one KazakhGold share. At close of business on Wednesday, 30 May 2007,
the mid-market price of each KazakhGold GDR on the London Stock Exchange was
US$20.40, equivalent to 10.33 based on the dollar/sterling exchange rate on
that day, and equal to 9.39p per Oxus share.

The EGM will be held at the offices of the Company, 105 Piccadilly, London, W1.

smiler o - 03 Jul 2007 14:03 - 338 of 817

LONDON (Thomson Financial) - Oxus Gold PLC said its Amantaytau Goldfields project in Uzbekistan has exported its first silver bullion, following the approval from the Uzbekistan government.

A total of 44,038 ounces of silver bullion was shipped to London and sold for 553,998 usd, the company said in a statement.

A further 437,539 ounces of silver in dore form is currently being refined in Uzbekistan, or waiting to be refined into bullion, it added.

On May 10, Oxus Gold had said its Amantaytau Goldfields project stands to make cash savings of some 17 mln usd after the government of Uzbekistan granted tax deferrals to the Phase I Oxides development.

The company has also said that it will distribute its KazakhGold global depository receipts (GDRs) to its shareholders by a dividend.

The dividend represents one KazakhGold GDR for every 110 Oxus shares.


maestro - 03 Jul 2007 19:52 - 339 of 817

bought in today...100p target price

smiler o - 03 Jul 2007 20:39 - 340 of 817

I do think you could be right ! :)
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