LONDON (Thomson Financial) - Oxus Gold Plc. said the arbitration with Kyrgyz
Republic has been suspended pending an agreed cash settlement to be made on or
before May 15.
Oxus 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.
The settlement will further enhance the group's ability to focus on the
development of its underground mine at Amantaytau Goldfields in Uzbekistan,
Oxus' chief executive Richard Wilkins said.
TFN.newsdesk@thomsonreuters.com
npr/slm
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|