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”).


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.


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.


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.


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.


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.


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.


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.


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.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Oxus Mining Plc (OXS)

  Print      Mail a friend       Annual reports

Tuesday 09 July, 2002

Oxus Mining Plc

Drilling Report

Oxus Mining Plc
9 July 2002

                                 Oxus Mining plc

                             JEROOY PROGRESS REPORT

  New Audited Mining & Development Report Confirms 2.0 Million Ounce Open Pit
              Mineable Reserve and Underground Resource at Jerooy

Oxus Mining plc (OXS.L) ('Oxus') announces that a new Audited Mining and
Development Report has been received from Wardell Armstrong for the Jerooy Gold
Project located in the Kyrgyz Republic. The June 30, 2002 report, funded by
Conquest Resources Limited ('YQR'  TSX-V) ('Conquest') under its option and
joint venture agreement with Oxus forms the first part of the Technical
Feasibility Study to be completed on the Jerooy deposit by mid-August 2002.

Wardell Armstrong has confirmed an open pit reserve and 'mineable' underground
resource totalling 2.0 million ounces of gold and has estimated a global
classified resource as follows:

   Wardell Armstrong, June 2002 - Global Classified Resource Jerooy Northwest Deposit

                                 Tonnage                 Gold (g/t)       Gold (kg)             Gold (Moz)

Measured                         3,478,465               6.40             22,260                0.72
Indicated                       13,786,000               2.67             36,790                1.18
Inferred                         7,952,021               5.17             41,140                1.32
TOTAL                           25,216,485               3.97            100,190                3.22

Under the terms of a joint venture agreement in May 2002, Conquest has the right
to earn a 66.67% interest in the Jerooy Project through the purchase, from Oxus,
of a 100% interest in the project holding company, Norox Mining Company ('Norox
').  To date, Conquest has earned a 4% interest in Norox, and Oxus holds the
remaining 96%.

As announced yesterday, the Kyrgyzstan Government's State Agency for Geology and
Mineral Resources has annulled the mining licence issued to Talas Gold Mining
Company ('Talas Gold') in respect of the Jerooy deposit.  Norox regards the
annulment of the mining licence as invalid and is disputing the matter. Talas
Gold is 66.67% owned by Norox and 33.33% owned by Kyrgyzaltyn, the State owned
mining company. Talas Gold was granted the exclusive rights to develop the
Jerooy gold deposit pursuant to a Joint Venture Agreement signed on 9 September
1998. The Joint Venture Agreement remains in full force and effect.  The
annulment of the mining licence does not affect Norox's rights to develop the
Jerooy project, and complete the bankable feasibility.

Oxus' principal project at Amantaytau in Uzbekistan is unaffected. Oxus remains
focused on concluding the project finance arrangements to enable the
construction of its Amantaytau Phase I mine.


Wardell Armstrong has estimated a Global Classified Resource for the Northwest
Zone at Jerooy of 17.26Mt at an average grade of 3.42g/t gold containing 1.90Moz
of gold in the measured and indicated categories together with a further 7.9Mt
at an average grade of 5.17g/t gold containing 1.32Moz in the inferred category.

The Wardell Armstrong resource estimate has considered a potential open pit area
above 3,400m elevation and an underground resource beneath this down to 3,080m
elevation.  However, the current study is the first to attempt to divide the
main core zone both from a geological and statistical standpoint. The Wardell
Armstrong classification is based upon the Australasian Code for Reporting of
Mineral Resources and Ore Reserves (the JORC Code, 1999) and complies fully with
Canadian National Policy 43-101.

Wardell Armstrong's study indicates an unclassified open pit resource for the
Northwest zone at Jerooy, above a 2.7g/t cut-off, of 6.0Mt @ 6.71g/t Au,
containing 40,593kg of gold (1.31Moz). From this, a classified resource within
the 2.7g/t wireframe (and applying a 2.7g/t cut-off) of 4.3Mt @ 7.98g/t
(1.10Moz) has been defined of which 93% is at the Measured and Indicated level.
A further 1.7Mt @ 3.61g/t (0.2Moz) within the 1.0g/t halo wireframe, above a
2.7g/t cut-off has also been estimated of which 73% is at the Measured and
Indicated level.

In the underground domain, down to 3,080m elevation, an unclassified resource
estimate for the Northwest zone, above a 5.0g/t cut-off of 3.35Mt @ 11.17g/t Au,
containing 37,446kg of gold (1.2Moz) has been defined. From this, a classified
resource estimate, excluding outlying veins, within the main 5g/t wireframe of
1.94Mt @ 12.73g/t (0.79Moz) has also been estimated, although only 24% of the
tonnage is at the Measured and Indicated level.

The Wardell Armstrong report indicates the importance of recognising that the
application of cut-off grades at the resource level is for illustrative purposes
only, as the reserve optimisation process will consider the entire block model
and calculate a true cut-off based on relevant economic and mining parameters.
Thus, more applicable is an estimation of a global classified resource, as
outlined in the earlier table.

An analysis of the distribution of the classified resources shows that the vast
majority of tonnage suitable for transfer to reserves is located in the open pit
area, whilst the bulk of the underground resource is at the Inferred level.

Additional resource potential exists in the Southeast, Central, Southern
Stockwork, Apophysis, Western and Northern zones but these require further
exploration and investigation.


The new resource model was used to determine an optimal economic pit shell based
on refined economic and technical parameters.   The effect of an underground
operation on the economic shell was also determined based on an estimated
underground mining cost.

This study used the complete resource down to 3,040m, with no cut-off applied,
so as to determine the true economic depth of the open pit.   Only Measured and
Indicated resources were considered as potential ore in the optimisation

Open pit reserves for the deposit have been estimated at 7.731Mt @ 5.22g/t,
containing 40,359kg of gold (1.30Moz). Of this some 5.332Mt @ 6.61g/t,
containing 35,248.8kg (1.13Moz) of gold, is contained within the high and medium
grade material.

As stated earlier, the uncertainty of the underground resource has led to its
exclusion from the reserve inventory. However, grade and tonnage estimates down
from the 3,380m level, and using a 5.0g/t Au cut-off and 2.7g/t cut-off for
internal waste, indicates a provisional economic base to the underground
resource at 3,060m. The underground resource thus defined is 1.744Mt at an in
situ grade of 12.52g/t Au in the Measured, Indicated and Inferred categories,
but excluding peripheral veins (below 2m in width).

Wardell Armstrong suggests a 'mineable' underground resource, allowing for
losses and dilution, of 1.807Mt at 11.62g/t Au, containing 20,997kg of gold
(0.68Moz). The 'mineable' resource cannot be classified as a reserve owing to
the inclusion of Inferred material and uncertainty in the geological continuity
between the currently explored and sampled 80m adits. Further underground
exploration prior to detailed mine planning is required to raise the level of
certainty of this material to full reserve status.

                          Wardell Armstrong, June 2002

       Open Pit Reserves (Measured & Indicated) Jerooy Northwest Deposit

                                               Tonnage               Gold (g/t)     Gold (kg)           Gold (Moz)

High/medium grade open pit                     5,332,000             6.61           35,249              1.13
Low grade open pit                             2,399,000             2.13            5,110              0.17
TOTAL                                          7,731,000             5.22           40,359              1.30

                          Wardell Armstrong, June 2002

 Underground Resource (Measured, Indicated & Inferred) Jerooy Northwest Deposit

                                               Tonnage              Gold (g/t)      Gold (kg)           Gold (Moz)

Underground resource                           1,744,000            12.52           21,835              0.70

'Mineable' underground resource with           1,807,000            11.62           20,997              0.68

Roger Turner, Chief Executive of Oxus, said today:

'We are pleased with the findings yielded to date and we look forward to
receiving the full results from the study later in August.'

9 July 2002


Oxus Mining plc                                                                      Tel: +44 (0) 1483 714 411
Roger Turner, CEO
Sacha Borthwick, VP Investor Relations

Brown Shipley Corporate Finance                                                      Tel: +44 (0) 20 7606 9833
Bill Staple, Director

College Hill                                                                         Tel: +44 (0) 20 7457 2020
Archie Berens

     Further information can be obtained by visiting the Company's website:


       The Company can also be contacted by e-mail: [email protected]

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

a d v e r t i s e m e n t