OXUS GOLD PLC.

OXUS GOLD PLC.

Previous company name
OXUS MINING PLC
Name change date
6/4/2003
Company Overview
Oxus Gold PLC, formerly known as Oxus Mining PLC until June of 2003, is a public quoted company engaged in the exploration and development of gold minerals. The company is also interested in other mineral exploration such as zinc, copper, lead and silver. Oxus Gold was established in 1996 and is quoted on the Alternative Investment Market (AIM) in London in 2001. Its registered principal place of business is in London, United Kingdom.
Oxus Gold’s core projects include the production of more than 160,000 ounces of gold from the Amantaytau Goldfields Phase 1 Oxides project, and the commencement of construction and mining at the Amantaytau Goldfields Vysokovoltnoye silver/gold heap leach project. The company mines for precious metals in central Asia, primarily in Uzbekistan. It is also involved in a polymetallic mine through a controlling stake in Marakand Minerals. Oxus Gold operates in the United Kingdom, Malta, Guernsey, Cayman Islands, Kyrgystan and Uzbekistan. In addition, Oxus Gold 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.
Business Summary
The principal activities of the Group were the continued development of its core operations at the 50% owned Amantaytau Goldfields in Uzbekistan. A total of 84,566 ounces of gold and 1,718,550 ounces of silver were produced during the period from AGF’s open pit mines, of which 78,716 ounces of gold and 1,414,682 ounces of silver were sold, for total revenue of $82.9 million, with the balance held in stockpile awaiting refining. A bankable feasibbility study was completed in respect of an underground mine which is expected to increase AGF’s production substantially. Discussions with contractors and financiers are underway with regard to this underground mine.
Description and history
The principal activities of the Group were the continued development of its core operations at the 50% owned Amantaytau Goldfields in Uzbekistan. A total of 84,566 ounces of gold and 1,718,550 ounces of silver were produced during the period from AGF’s open pit mines, of which 78,716 ounces of gold and 1,414,682 ounces of silver were sold, for total revenue of $82.9 million, with the balance held in stockpile awaiting refining. A bankable feasibbility study was completed in respect of an underground mine which is expected to increase AGF’s production substantially. Discussions with contractors and financiers are underway with regard to this underground mine.

During the year the Group sold its operations in Kyrgyzstan, comprising the Jerooy gold project, together with its 50% share of the Romaltyn Limited joint venture operation in Romania and certain assets and interests in Turkey.

History:

The Company was incorporated on 21 August 2000 and listed on the London Stock Exchange on 4 July 2001.

Acquisition:

On 22 October 2007, the board of Marakand Minerals Limited (‘Marakand’) announced that it has convened an Extraordinary General Meeting on 12th November 2007 to propose an amendment to the Articles of Association of the Company to enable Oxus Gold plc (‘Oxus’) to compulsorily acquire the 16,459,073 ordinary shares of Marakand which it does not currently own (‘Remaining Shares’) in exchange for new Oxus ordinary shares. The Remaining Shares represent approximately 15.96 per cent. of Marakand’s issued share capital.

Oxus wishes to acquire the Remaining Shares, both to simplify the structure of the Oxus group and eliminate un-necessary costs.

Marakand Minerals Limited (‘Marakand’) announced that, at the Extraordinary General Meeting held in London on 12 November 2007, all of the resolutions were duly passed, accordingly the Offer Period is now over.

On 20 December 2007, Marakand Minerals Limited (‘Marakand’) announced that Oxus Gold plc has completed the acquisition of the remaining ordinary shares of Marakand.

Formerly known as Oxus Mining PLC

Business Line
Exploration and development of gold minerals
Subsidiary
OXUS RESOURCES CORPORATION
Advisor
DELOITTE LLP
IPO date
7/4/2001
US SIC Code
1499
Company Address
52, Charles Street

City province or state postal code
W1J 5EU, LONDON
Phone: +44 20 7907 2000
Fax: +44 20 7907 2001
Country address: UNITED KINGDOM
Website url: www.oxusgold.co.uk