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“A WORLD CLASS RESOURCE IN THE
HEART OF CENTRAL ASIA”
JULY 2008
*
This presentation is strictly confidential, may not be distributed to the press or any other person, and may not be
reproduced in any form, in whole or in part. Failure to comply with this restriction may constitute a violation of
applicable securities laws.
This presentation contains both historical facts and statements relating to Oxus Gold plc’s (“Oxus”) current plans,
estimates, objectives and strategies which are forward-looking statements. Such forward-looking statements
involve known and unknown risks, uncertainties and other important factors beyond Oxus' control that could cause
the actual results, performance or achievements of the Company to be materially different from future results,
performance or achievements expressed or implied by such forward-looking statements. Accordingly, any reliance
you place on such forward-looking statements will be at your sole risk.
The information contained in this document is being supplied only to persons who fall within Article 11(3) of the
Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended). The information
contained in this presentation has not been independently or legally verified and is subject to change without notice.
No representation or warranty, express or implied, is given to the accuracy, completeness or fairness of the
information or opinions contained in this document and no liability is accepted by Oxus or any of its directors,
members, officers, employees, agents or advisers for any such information or opinions.
This information is being supplied to you, in whole or in part, for information purposes only and not for any other
purpose. In particular, this presentation is not intended for publication outside of the United Kingdom and the
distribution of this document in jurisdictions other than the United Kingdom may be restricted by law and persons
into whose possession this document comes should inform themselves about, and observe any such restrictions.
Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdiction.
This document and the information contained in it do not constitute a prospectus and do not form any part of an offer
of, or invitation to apply for, securities. Neither this presentation, nor any part of it, nor the fact of its use, should
form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
1
Producing precious metals company
Produced over 500,000 oz of gold since January 2004 and 1.2 Moz of silver
since June 2007
Focused on Uzbekistan through Amantaytau Goldfields JV (AGF)
AGF– 50% JV with Uzbek State, with Oxus as Manager:
2.44 Moz of gold reserves; 6.7 Moz of silver reserves (JORC)
Within 7.2 Moz of gold resources and 54.1 Moz of silver resources (JORC)
Significant exploration potential
Increasing production from 75,000 oz pa currently to over 300,000 oz pa from
mid 2010
New underground sulphide mine in addition to existing oxide production
All figures 50% attributable to Oxus
Admitted to London Stock Exchange AIM: 2001 (OXS.L)
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
2
Jonathan Kipps Richard Wilkins John Donald
Chief Financial Officer / Chief Executive Officer Chief Operating Officer
Secretary
Oliver Prior Douglas Sutherland Gordon Wylie Miradil S. Djalalov Richard Shead
(Non-Executive) (Non-Executive/Chairman) (Non-Executive) (Non-Executive) (Non-Executive)
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
3
Approval to proceed with Sulphides Underground Mining Project received from
Cabinet of Ministers in December 2007
To be developed by 50% owned Amantaytau Goldfields
$167 million project – Royal Bank of Scotland mandated to arrange project
finance
Bankable feasibility study completed June 2008
First gold production scheduled for Q3 2009
Strategic alliance with Zeromax, Uzbekistan’s largest private sector employer
Zeromax currently owns 18% of Oxus and is represented on both the AGF
Directorate and Supervisory Board, as well as Oxus Board
Kyrgyz, Romanian & Turkish assets sold to KazakhGold in June 2007
Oxus received 3.5m KazakhGold shares valued @ $73m
Distributed $66m in KazakhGold shares as dividend in July 2007
Additional payment of up to $80m in cash if KazakhGold obtains license to
develop Jerooy gold deposit in Kyrgyzstan
International Investment Forum
29 May 2007
Note: All
Tashkent, Uzbekistanreferences
4 to $ are US$
381m 1p shares in issue (429m fully diluted)
Capital Group
9% RAB Capital
Alfa Group Special Situations Fund
L-R Global 7% 27%
8%
Directors and
Management
2%
Free Float
29%
Zeromax
Strategic Partner
18%
Strategic alliance with Zeromax plus strong institutional support
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
5
Oxus Market Statistics @ 4th July
2008
Market Capitalization $133 Million
Current share price: 17.5p / share
52 Week Share Price Low/High: 14.0p – 60.5p
2007 Dividend Paid Equivalent of 9p/share
Shareholder loans due from AGF (earning LIBOR +3%): $33m
Corporate loan due to Nedbank: $7.5m
Cash Position $17m
Convertible Loan Notes Placed in May 2008 (37p / 8% coupon) $18.5m
Hedge Position: None
IFRS compliant: 2006 and 2007 accounts
International Investment Forum
29 May 2007
6 Note: Statistics
Tashkent, Uzbekistan according to June 2007 Financial Statements
World class mineral assets
Uzbekistan ranked as fourth largest gold resources in the world (estimated 170
Moz)
Ninth largest gold producer – 80 t per year (2.6 Moz pa)
60 t from Muruntau mine; only 25 kms from AGF
Politically stable
Skilled, educated workforce
Established infrastructure – Central Asia’s transport hub, with energy self-
sufficiency and good IT infrastructure
Recognized foreign investment climate:
Nestlé, BAT, Case Corp., ABN Amro Bank (RBS), AIG, Coca Cola
General Motors entry in October 2007 (former UzDaewoo car plant)
Strategic alliance with Zeromax
Additional projects expected
Established mining & investment environment
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
7
Second largest gold province in the world after the Witwatersrand Basin
Massive potential
Underexploited
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
8
192 km² license area in Central Kyzylkum on Tien Shan
Access to established mining infrastructure
Road / rail / power / water / airport
Experienced human resource base
25 km from one of world’s largest open pit gold mines - Muruntau
Muruntau has produced over 50 Moz (1,600 t) of gold to date
1.8 Moz (60 t) of gold produced annually
Expected to be in production for at least another 25 years
Owned by NMMC = 8th largest gold producer in the world
Central Kyzylkum holds estimated 3,200 t in potential mineralization
Access to 2 London bullion market accredited gold and silver refineries
Located in a world class mining environment
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
9
Investing since 1996
Oxus owns 50% of AGF (50% owned by Uzbek State)
Total investment to date is approximately $100m
Presently employing over 650 local workers with an additional 800 to be
employed for the sulphides / additional heap leach projects
Gold and silver doré refined in Uzbekistan (LBMA accredited)
Produced and exported over 500,000 oz gold equivalent bullion
$35m original project finance repaid
$5m (Uzbek Soum 5bn) local corporate bond repaid
Strong supporter of the local economy
A Proven Track Record in Uzbekistan
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
10
AGF ORE RESERVES, MINERAL RESOURCES AND
EXPLORATION RESULTS
Ore Reserves 2.44Moz Au
+ 6.74Moz Ag
Mineral Resources contained within
Measured + Indicated Resource 4.83Moz Au + 38.04Moz Ag JORC
plus
Inferred Resource 2.41Moz Au + 16.04Moz Ag
INCREASING
CONFIDENCE
Exploration Results 7.61Moz Au + 72.79Moz Ag
Soviet Resource Potential
Soviet P1 Resource 5.84Moz Au + 314.61Moz Ag
NOT JORC
Soviet P2 Resource 3.75Moz Au + 45.11Moz Ag
NB : - 50% of the above Ore Reserves and Mineral Resources attributable to Oxus
- oxide resources and reserves at July 2007; sulphides updated during BFS completed June 2008
Sulphide reserves of 2.01 Moz Au; balance in oxides
58 explored gold deposits and occurrences within 192 km² license area
Only 3 deposits exploited to date
Potential Total: 24 Moz Au; 487 Moz Ag
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
11
OXIDES:
Further 1.2 mtpa from CIP plant until Q2 2009 – 60,000 oz gold in total
Ongoing 1mtpa Vysokovoltnoye gold / silver heap leach – 40,000 oz pa¹
Additional heap leach (Asaukak, etc.) – 1 mtpa, 30,000 oz pa, end 2008
onwards
Approx 70,000 oz per year for foreseeable future
At least 1Moz expected to be mined over 15+ years including resources and
blue sky
SULPHIDES:
CIP plant modification – to treat sulphide ores through flotation and biological
oxidation and cyanide leaching of concentrates (operating Q3 2009 onwards)
200,000 oz in 2010, 230,000 oz pa thereafter
At least 5 Moz expected to be mined over 20+ years including resources and
blue sky
ONGOING EXPLORATION:
$3m budgeted annually from 2008
Target: 300,000oz + producer from mid 2010
International Investment Forum
29 May 2007
12 (1)Uzbekistan
Tashkent, Includes Vysokovoltnoye silver heap leach production as gold equivalent ounces (approx 58:1)
Note: 50% attributable to Oxus
Open Pit Excavator CIP Plant
Centralny Open Pit CIP Conveyor Belt
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
13
13
CIP conversion to sulphide plant
Oxus earns a management fee equivalent to 5% of operating costs;
Uzbek state geology committee earns 2% fee
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
14
AGF Sulphides: Bankable Feasibility Study
(7 year mine life: Severny + part Centralny reserves)
Mining Strategy: Underground mine (decline access, trackless
mining, cut and fill mining method), ongoing
exploration
Projected Tonnage: 750,000 tpa commencing Q3 2009, increasing to
1.2 mtpa from mid 2010, @ 7.75 g/t
Process Technology: Biological Oxidation (BIOX)
Recovery: 88%
Output: 33,000 oz in 2009; 202,000 oz in 2010; 230,000 oz
pa thereafter
Pre-production Capex: $167 million
Project finance: RBS mandated
Cash costs : $403/oz (including taxes and management fee)
Feasibility study initially completed by Wardell Armstrong (WAI) in Sept. 2005
Bankable Feasibility Study completed June 2008 by WAI
20+ year mine life assuming ongoing mining of resources / blue sky
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
15
NPV $331m at 7% discount rate per
annum
IRR 51%
PAYBACK 24 months from start of
production
COSTS $403 per oz (including taxes and
management fee)
• Potential to improve economics
more cost effective mining methods
additional reserves
• Mine life will extend beyond initial 7 years
International Investment Forum
29 May 2007
16
Tashkent, Uzbekistan
INHERITED FROM SOVIET ERA
Shaft sunk to 360m depth; 5m diameter
27 km of underground exploration tunnels on five different levels
AGF UPKEEP AND MAINTENANCE
Winder and shaft steelwork refurbished and in daily operation
Shaft to be used as part of ventilation and escape system
Recently re-opened, equipped and ventilated 723m of tunnels
Existing tunnels to be used for extensive drilling programme with
new Atlas Copco drill
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
17
Sea Level
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
18
At 500 Metres below existing workings
Soviet Exploration Data
Huge down dip gold potential
20m @ 13.5 g/t Au
Sea Level
15m @ 14.23 g/t Au
Base of Existing Resources
Drillhole 1767a
From 871m to 879m
Length Gold
3m 23.1 g/t
2m 72.0 g/t
International Investment Forum 3m 66.5 g/t
29 May 2007
Tashkent, Uzbekistan
19 8m 51.6 g/t = Total
Vysokovoltnoye Heap Leach First Gold Pour
Headgear for underground sulphides Heap Leach Pad
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
20
400,000
Production, oz gold equivalent
350,000
300,000
250,000
200,000
150,000
100,000
50,000
-
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
CIP-Oxides Vyso Satellite Oxides Sulphides - underground
• Forecast includes gold and silver as gold equivalent from 2008-2013
• Includes mining of oxide resources
• Sulphides enter full production in 2010
International Investment Forum
29 May 2007
• Oxus attributable ounces at 50%
Tashkent, Uzbekistan
21
AGF expects to employ 1,450 local workers by 2010
Investment of more than $190m over the next three years
Expected 20+ year mine life from the total resource base
Estimated $1bn in tax revenues for Uzbekistan
Approx 17% of gross revenue
Includes 10% profits tax
Includes >$200m in social development taxes
Operating in accordance with World Bank environmental
standards
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
22
$250
Market Capitalization (US$)
$200
$150
$100
$50
$0
Eldorado (Turkey, Centerra Highland (Russian Celtic Resolute Kazakhgold Oxus (Uzbekistan)
China) (Kyrgystan) Federation) (Kazakhstan)* (Australia. South (Kazakhstan)
Africa)
Oxus has significant value to be unlocked, through a near term projected
production rate of 150,000 attributable ounces per annum
Severstal bid Celtic at approximately $282 per attributable resource ounce
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
23 Source: Canaccord Adams, London June 5 2008
Undervalued compared to peer group
Strong fundamentals from existing projects
40,000 oz pa attributable producer currently
150,000 + oz pa attributable producer within 3 years¹
Reducing operating costs per oz
Significant upside potential for new reserves
Key operating personnel already in place
Zeromax strategic alliance
Further growth potential via new projects
Looking to become world class precious metals producer and
Uzbekistan’s flagship mining company on international capital markets
International Investment Forum
29 May 2007
24 (1) Subject to financing
Tashkent, Uzbekistan of pre-production Capex
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
26
Oxus Gold plc
Oxus Holdings (Malta) Ltd
100%
(Malta)
Oxus Resources Corp
100%
(BVI)
Amantaytau Goldfields
(Uzbekistan JV) 50%
Streamlined Uzbekistan-focused business model
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
27
Nominated Adviser & Broker:
Canaccord Adams, London
Auditors:
Deloitte & Touche LLP
Registrars:
Capita Registrars, London
Solicitors:
English Law: Norton Rose, London
Uzbek Law: Denton Wilde Sapte, Tashkent
Bankers:
Nedbank (Corporate loan facility)
HSBC
Barclays, London (AGF Gold Sales Depository)
ABN Amro, Tashkent
Ipoteka Bank, Tashkent / Zarafshan
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
28
1
Six months Year
ended 31 Year ended ended
December 2007 June 07 June 06
Revenue 1,065 2,387 3,383
Share of Profit from JV (1,970) (3,213) 10,169
(Loss)/Profit after tax (43,013) (18,966) 2,398
Total Assets 78,378 186,291 176,373
Source: Oxus Gold Plc annual reports,
International Investment Forum more financial information available at www.oxusgold.co.uk
29 May 2007 In accordance with IFRS
(1)
Tashkent, Uzbekistan
29
Year to Year to Year to Year to
12/2007 12/2006 12/2005 12/2004
Ore Processed (Tonnes) 845,177 1,225,400 1,567,529 1,062,101
Average Grade (g/t) 2.7 3.0 4.5 5.8
Recovery % 67 73.4 77.1 82.6
Gold Produced (oz) 48,379 98,053 161,615 148,511
Cash Cost ($/oz) ¹ 656 392 202 160
Total Cost ($/oz) ¹ 759 445 230 182
Net Profits ($ Millions) (11.05) 8.85 13.26 16.13
First 3 ½ years production from oxide ores, processed through CIP plant
Oxide grades and recoveries have declined, as expected
Vysokovoltnoye heap leach project sold first gold and silver in July 2007
Vysokovoltnoye earned $ 3m profit in H2 2007
Longer term oxide production from heap leach, not CIP
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
30 (1) Calculated in accordance with Gold Institute’s production cost standard
AGF deposits discovered in 1976
Located in Zarafshan-Turkestan formation of Southern Tien Shan
(as per Muruntau)
Lower Palaeozoic Besapan siltstones and sandstones host
Ore bodies formed during Caledonian, Hercynian and Alpine
deformation
Sulphide deposits formed in steeply dipping fractures and breccia
zones up to 20m in width
Primary sulphide mineralization oxidised within 50m of surface
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
31
OXUS GOLD PLC PRECIOUS METAL ORE RESERVES AS OF JULY 2007 (SULPHIDES RESERVES UPDATED JUNE 2008)
Proven Reserves Probable Reserves Proven + Probable
Deposits Cut off Mt Grade g/t Contained Kozs Mt Grade g/t Contained Kozs Mt Grade g/t Contained Kozs
g/t Au Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver
AMANTAYTAU GOLDFIELDS
CIP Oxides (as of July 2007)
Asaukak (15% Dilution, 95% Ore Recovery) 1.0 1.29 2.1 1.6 88 66 1.29 2.1 1.6 88 66
Stockpiled ore at Asaukak 0.5 0.37 0.9 11 0.37 0.9 11
Stockpiled Asaukak ore at CIP plant 1.0 0.06 1.2 3 0.06 1.2 3
Uzunbulak (15% Dilution, 95% Ore Recovery) 0.8 0.09 1.9 3.8 5 11 0.91 1.7 2.5 51 72 1.00 1.7 2.5 56 83
Sarybatyr (15% Dilution, 95% Ore Recovery) 0.6 0.77 2.2 54 0.93 1.6 47 1.70 1.6 101 -
Sub-Total CIP Oxides 1.30 1.8 73 11 3.12 1.8 185 138 4.42 1.8 258 149
Heap Leach Oxides (as of July 2007)
Vysokovoltnoye OB4 (8% Dilution, 95% Ore Recovery) 0.6 0.66 1.3 28.0 28 591 1.77 1.2 26.2 69 1,493 2.43 1.2 26.2 97 2,083
Vysokovoltnoye OB7 (8% Dilution, 95% Ore Recovery) - 0.26 1.2 116.0 10 970 2.20 0.9 50.0 65 3,537 2.46 0.9 53.0 75 4,506
Sub-Total Heap Leach Oxides 0.92 1.3 52.9 38 1,560 3.97 1.1 39.4 134 5,029 4.89 1.1 41.9 172 6,590
Total Oxides 2.21 1.6 111 1,571 7.10 1.4 320 5,168 9.31 1.4 430 6,739
Sulphides (updated June 2008)
Amantaytau Centralny (23.4% Dilution, 91.3% Ore Recovery) 2.0 2.21 4.7 332 2.21 4.7 332
Amantaytau Severny (28.3% Dilution, 99.0% Ore Recovery) 3.5 0.85 7.6 207 5.88 7.8 1,470 6.73 7.8 1,676
Total Sulphides 0.85 7.6 207 8.10 6.9 1,802 8.94 7.0 2,008
TOTAL AGF RESERVES 317 1,571 2,121 5,168 2,439 6,739
OXUS ATTRIBUTABLE AGF RESERVES (50%) 159 786 1,061 2,584 1,219 3,369
Note : Reserves as per 1st June 2007, apart from Amantaytau Severny and Centralny Sulphides updated June 2008 as part of BFS
Note:The above sulphide reserves include 1.78Mt of "ore" at an average grade of 4.73 g/t containing 271,000 ounces gold which are “qualified “
pending the completion of metallurgical testing of transitional "ore" at Centralny
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
OXUS GOLD PLC PRECIOUS METAL MINERAL RESOURCES AS OF JULY 2007 (SULPHIDES RESOURCES UPDATED JUNE 2008)
JORC Classified Measured Resources Indicated Resources Inferred Resources Expl Results
Deposits Cut off Mt Grade g/t 000 ozs Mt Grade g/t 000 ozs Mt Grade g/t 000 ozs 000 ozs
g/t Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver
AMANTAYTAU GOLDFIELDS
Oxides (as of July 2007)
Asaukak 0.6 1.98 1.8 1.8 117 114 0.45 1.4 1.8 21 26
Uzunbulak 0.6 0.12 1.9 4.0 7 15 1.94 1.5 2.8 95 175 1.28 1.3 2.1 53 88
Sarybatyr 0.6 0.74 2.5 - 59 - 0.89 1.8 - 51 - 0.79 2.2 - 55 -
Vysokovoltnoye OB4 0.6 1.22 1.3 34.1 50 1,332 3.63 1.2 27.7 140 3,236 0.59 1.4 22.6 27 430
Vysokovoltnoye OB7 - 0.27 1.2 120.0 10 1,038 2.90 0.9 50.0 88 4,660 0.38 0.9 14.7 11 179
Zapadny Amantaytau 0.6 0.05 1.3 - 2 - 0.28 1.3 - 11 - 1.05 1.5 - 51 -
AGF - 17 deposits 0.6 - - - - - 7.02 1.4 - 308 - 12.52 1.3 - 535 - 1,966 301
AGF - 7 Exploration Targets 0.6 - - - - - - - - - - - - - - - 467 25,810
Total Oxides 2.39 1.7 129 2,385 18.64 1.4 811 8,185 17.06 1.4 752 723 2,434 26,111
Sulphides (updated June 2008)
Severny 2.0 0.94 9.0 - 272 - 7.95 8.0 - 2,040 - 0.67 5.7 - 123 -
Centralny 2.0 1.99 4.8 - 304 - 2.62 4.5 - 376 - 3.11 4.3 - 428 -
Asaukak 0.6 0.10 2.2 3.3 7 10 2.82 1.9 1.8 173 161 1.30 1.9 1.8 78 76
Uzunbulak 0.6 0.06 3.6 5.6 6 10 1.50 1.9 3.6 93 172 8.08 2.8 5.6 736 1,451
Sarybatyr - - - - - - - - - - - - - - - -
Vysokovoltnoye OB4 0.6 3.71 1.3 33.7 151 4,019 7.28 1.1 35.9 265 8,389 3.85 1.1 32.1 133 3,981
Vysokovoltnoye OB7 - - - - - - 7.32 0.9 62.5 204 14,709 6.76 0.8 45.1 164 9,805
AGF - 7 deposits (sulphides) - - - - - - - - - - - - - - - 5,171 46,683
Total Sulphides 6.79 3.4 18.5 740 4,039 29.49 3.3 24.7 3,151 23,431 23.78 2.2 20.0 1,661 15,313 5,171 46,683
Total Amantaytau Goldfields 9.18 2.9 21.8 869 6,424 48.13 2.6 20.4 3,962 31,616 40.84 1.8 12.2 2,413 16,036 7,605 72,794
OXUS ATTRIBUTABLE - 50% 4.59 2.9 21.8 434 3,212 24.07 2.6 20.4 1,981 15,808 20.42 1.8 12.2 1,207 8,018 3,802 36,397
Soviet/Uzbek Classified Resources (Additional to JORC) P1 P2
000 ozs 000 ozs
Gold Silver Gold Silver
AGF Sulphides 5,841 314,604 3,745 45,110
OXUS ATTRIBUTABLE - 50% 2,921 157,302 1,873 22,555
Note: Northern Uzunbulak has a Soviet/Uzbek C1 resource of 0.14Mt @ 2.04g/t gold containing 9,000 ounces of gold
Note: Exploration results comprise all Soviet/Uzbek B, C1 & C2 resources, and P1/P2 resources to 50m depth for oxide and 3 deposits for sulphide, not yet JORC resource classified
Note : Resources as per 1st June 2007, apart from Amantaytau Severny and Centralny Sulphides updated June 2008,as part of BFS Study
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
CIP PLANT:
1.2 mtpa until Q2 2009 @ 1.8 g/t
80% recovery
60,000 oz in total
$640/oz – total cash cost
VYSOKOVOLTNOYE:
1 mtpa ongoing @ 1.2 g/t Au / 28 g/t Ag
Au 68% recovery / Ag 62% recovery
40,000 oz eq pa
$361/oz – average total cash cost over next 7 years, excluding inflation
3:1 average stripping ratio
OTHER HEAP LEACH:
1 mtpa late 2008 onwards @ 1.18-1.46 g/t
69% recovery
30,000 oz pa
$454 /oz - average total cash cost over next 7 years, excluding inflation
5:1 average stripping ratio
Estimated pre-production Capex: $5m
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
34
ENVIRONMENT:
Mine constructed and operated to World Bank and Uzbek standards
Strict regular monitoring by local agencies have revealed no negative
impacts
Full time environmental control staff on site
SAFETY:
No fatal accidents
No loss time injury for over 18 months
4 full time safety officers on site
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
35
TRAINING:
Ongoing training programmes for employees in technical and financial
departments
Senior management positions now staffed by locals
SOCIAL:
Oxus and AGF recently established University of Westminster
Scholarship Program to sponsor scholarships and English language
learning centre in Zarafshan in conjunction with Westminster
International University in Tashkent.
Significant contributions made to local social programmes
Refurbished two local clinics
Installed two heating systems in two local schools
Local labour, suppliers and contractors used where possible
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
36
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
37
Approximately 6 kilometres
Oxus mine is 25 km southwest of Muruntau
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
