Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Oxus Gold PLC (OXS)

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Thursday 11 February, 2010

Oxus Gold PLC

Amantaytau Goldfields Update

RNS Number : 9827G
Oxus Gold PLC
11 February 2010
 

OXUS GOLD PLC

Amantaytau Goldfields Update

 

LONDON - 11 February 2010. Oxus Gold plc ("Oxus" or the "Company") (OXS.L) is pleased to present the following update in respect of its 50% owned Amantaytau Goldfields joint venture in Uzbekistan ("AGF").

The Company has previously reported that AGF had stockpiled approximately 18.2 tonnes of silver doré from its heap leach operations at Vysokovoltnoye (now renamed Nukrakon), containing some 6,700 ounces of gold and 568,000 ounces of silver. This stockpile has now been refined at the Uzbek State owned Almalyk refinery and exported and sold. In addition, 3,860 ounces of gold and 56,750 ounces of silver previously reported as locked-up in the furnace at Almalyk has also been recovered, exported and sold, following a scheduled refurbishment of the smelter.

In addition UZS 4.6 billion ($3.1 million) of previously paid VAT has also been recovered by AGF. UZS 2.2 billion ($1.5 million) has been offset against other taxes and customs payments due by AGF to the Uzbek State, and the balance of UZS 2.4 billion ($1.6 million) is being offset against Oxus' Phase 2 Project Development Fund liability to the Uzbek Government (as more fully described in note 39 to the Company's 2008 Annual Report and Accounts), with Oxus' shareholder loan account with AGF being reduced accordingly.

AGF has commenced recovery procedures in respect of various taxes and customs duties which it considers to be repayable or to have been overpaid to the Uzbek State. To date the local Uzbek courts have initially awarded in favour of AGF in respect of customs import duties previously paid.

Having processed the silver doré stockpile, AGF has now resumed irrigation and stacking of the heap leach pads at Nukrakon, utilising a previously mined stockpile of 75,000 tonnes of ore. To date a total of approximately 38,170 tonnes have been stacked on the heap leach pads containing a head grade of 0.89 grammes  per tonne of gold and 93.4 grammes per tonne of silver. Discussions are underway with AGF's mining contractor and with the Uzbek Government as to the optimum time to recommence mining at Nukrakon, which itself will be influenced by the timing of the issue of the mining licence for the nearby Sarybatyr gold deposit.

In the meantime, Oxus has initiated discussions with the Uzbek Government in respect of the Foreign Investment Agreement which is a condition precedent to the drawdown of up to $185 million of financing recently announced with the Chinese CITIC Group. It is intended that these funds will be used to develop the Severny underground mine, to expand existing heap leach operations at AGF, and to carry out an aggressive exploration programme, with a view to increasing annual gold production to 300,000 ounces and also to increase gold reserves at AGF from the current 2.4 million ounces to over 7 million ounces (after allowing for mining depletion) over the next 5 years.

Richard Shead, Executive Chairman of Oxus, commented: "After a frustrating 2008 and 2009, I am delighted at these positive developments and hope that 2010 will be the year when Oxus gets back on track and starts to unlock the undoubted potential that exists within AGF's 192 square kilometres of licence area. We will drawdown on the relevant finance as soon as possible and we look forward to working with both the Uzbek Government and the CITIC Group in order to significantly expand operations at AGF over the coming years for the benefit of both AGF's and Oxus' shareholders."

For further information, please contact:

 

Oxus Gold plc

Richard Shead (Chairman)

Richard Wilkins (Executive Director)

 

 

Tel: +44 (0) 207 907 2000

 

Fairfax I.S. PLC

Ewan Leggat

 

 

Tel: +44 (0) 207 598 5368

Conduit PR Ltd

Ed Portman

 

 

Tel: +44 (0) 207 429 6607

 

 

 


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