25 May 2012

China rumours stir Oxus

07/09/2009 Robert Tyerman

Out-of-favour central Asian play Oxus Gold has surged on market suggestions of a bid from China.

The AIM-quoted company, whose project of exploiting its 50 per cent-owned Amantaytau gold field in Uzbekistan with an estimated resource of 1.09 million oz has been dogged by delays, has seen its shares rise in two months from below 6p to 14p. That is a mere fraction of earlier levels but nearly four times its 12-month low of 3.73p and has prompted talk of acquisitive interest from Chinese concerns.

Company spokesmen today said Oxus was unaware of any such attention from the East and pointed out the company’s brokers had recently produced favourable research reports on it. The shares’ short term potential is speculative.

Tags: AIM, Commodities, Mergers & acquisitions

Sector: Mining

Companies: Oxus Gold

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