::::::::::::::::: OXUS GOLD 2005 :::::::::::::::::

International lawyers recommend "Oksus Gold" to move out from Kyrgyzstan

- As “Talas Gold Mining Company” (TGMC) states that London legal company “Clifford Chance” recommended group of companies “Oksus Gold” which owns 2/3 of TGMC stocks to not bring new equipments to Dzheruy gold minefield and move out all existing equipments from Kyrgyzstan.

Otherwise, the company has a risk to loose all assets, if it will not move out them before the start of expected, in case of unfavorable decision on restoration of the license, legal actions against Kyrgyz government. Cost of the lawsuit will make up around 100 million soms.

It has to be mentioned that on November 14, 2005, Kyrgyz government in its letter to the head of TGMC S. Westhead emphasized that “according to the conclusion of international legal company “Devonport Lions” and also Kyrgyz lawyers, Kyrgyz government decided to refuse in license restoration on exploitation of minefield Dzheruy by TGMC.
19:07 28-12-2005 AKIpress