Thursday, October 29, 2009

Oxus Gold plc
Company Profile
Oxus Gold plc (‘Oxus’) is a producing gold mining company with primary operations inside the Republic of Uzbekistan. Founded in 1996, Oxus listed on London’s Alternative Investment Market (AIM) in 2001 and is currently producing significant quantities of both gold and silver from its 50% stake in the Amantaytau Goldfields JV (AGF) which is located in the Kyzylkum region of Uzbekistan, To date AGF has produced approximately 500,000 ounces of gold and silver (expressed as gold equivalent ounces) from its two operations and a third mine, the Asaukak Heap Leach, is due to be built by the end of 2008 which will process one million tonnes per annum of ore.

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.

In May 2008 Oxus announced that it has mandated The Royal Bank of Scotland to arrange a project finance facility of approximately $150 million of which RBS has underwritten 50% of the total. The Facility will be used to enable AGF to develop its Phase 2 underground sulphides project. Oxus also announced the placing of US$ 18.5m of convertible notes with existing institutional shareholders.

The sulphide mine is expected to be in production in 2010 with the bankable study showing production of 300,000 ounces of gold in its first full year.
AGF is situated on one of the world’s largest areas of gold endowment, the Tien Shan belt, second only in size to that of the Witwatersrand basin. AGF also enjoys the benefit of being positioned just 40 kms south of the world’s largest single open pit gold mine at Muruntau.
* Oxus Gold plc was incorporated in England and Wales
Ownership Profile
Shares in issue: 384,631,000
Significant Shareholders Information
Major Shareholders Amount: %
RAB Special Situations (Master) Fund Limited 104,619,858 27.20
Zeromax GmbH 68,533,797 17.82
The Capital Group Companies Inc 33,999,300 8.84
L-R Managers LLC 27,751,324 7.22
Alpha Group 25,372,074 6.60
TNS Investments Ltd 13,671,330 3.55

Director's shareholdings
Amount: %
Richard V L Wilkins 4,694,864 1.22
Richard B Shead 1,087,319 0.28
John C Donald 765,852 0.20
Oliver Prior * 152,691 0.04
Miradil S Djalalov * 78,083 0.02
James R G McBurney * 31,178 0.01

* Non-executive directors

The total number of ordinary shares in issue is 384,631,000 (there are no ordinary shares held in treasury)

The Company is aware that the number of shares not in public hands (as defined in the AIM Rules for Companies) as at 15 July 2009 is 47%.

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