LONDON (Thomson Financial) - Oxus Gold Plc. said the claim in arbitration
against the Kyrgyz Republic under the UK - Kyrgyz Republic Bilateral Investment
Treaty has been withdrawn, as it has now received the agreed cash settlement.
On May 6, Oxus Gold said the arbitration with Kyrgyz Republic had been
suspended pending an agreed cash settlement to be made on or before May 15.
The company said it retained its rights to the potential deferred payment of
up to $80 million payable by KazakhGold, if KazakhGold were to become involved
in the development of the Jerooy project.
Oxus said the settlement will further enhance its ability to focus on the
development of its underground mine at Amantaytau Goldfields in Uzbekistan.
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