(Repeating to clarify headline to show that Oxus already has the feasibility
study)
LONDON (Thomson Financial) - Oxus Gold Plc. said it sees significant upside
potential for extended life and increased reserves after a feasibility study
over the underground sulphide project at the 50 percent-owned owned Amantaytau
Goldfields joint venture in Uzbekistan.
Although further geotechnical work to investigate the use of lower cost
mining methods is planned, the development of a 1.2 million tons per annum
(mtpa) underground gold mine and process plant based on current reserves at the
Severny and Centralny ore deposits is technically and commercially feasible, the
company said.
Oxus also said it expects to commission the plant by the third quarter of
2009 with a production level of 750,000 tonnes per annum, increasing to 1.2 mtpa
by mid 2010. The company said 200,000 ounces of gold will be produced in 2010
and 270,000 oz in 2011.
TFN.newsdesk@thomson.com
ran/ejp/am
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