Oxus Gold plc – Preliminary Results

Oxus Gold plc – Preliminary Results

Final preliminary results for the 18 months ended 31 December 2008

  • AGF reports an operating profit of $2.70 million* for the year ended 31 December 2008 (year ended 31 December 2007: operating loss of $7.93 million)
  • AGF produces 66,465 ounces* of gold equivalent for the year ended 31 December 2008 (year ended 31 December 2007: 83,339 ounces)
  • AGF reports gold sales of 67,329 ounces* of gold equivalent for the year ended 31 December 2008 (year ended 31 December 2007: 74,740 ounces)
  • AGF has 18 tonnes of silver doré ready to be shipped to a refinery in Switzerland
  • Oxus reports gross revenue, which represents recharged administrative and other costs, of $5.28 million for the 18 month period ended 31 December 2008 (year ended 30 June 2007: $2.39 million)
  • Oxus reports a loss of $54.39 million for the 18 month period ended 31 December 2008 (year ended 30 June 2007: loss of $18.97 million). The result includes net exceptional charges of $43.51 million (2007: $18.74 million), $38.90 million of which were reported in the 6 month interim period to 31 December 2007
  • Bankable feasibility study completed on underground sulphides project
  • Lower capital cost first phase addendum to the bankable feasibility study completed
  • Placing of convertible loan notes raises cash for working capital. Current cash balances stand at $9 million
  • Monthly corporate overheads reduced by 39% over the 18 month period ended 31 December 2008
  • Special dividend paid equivalent to $65.69 million from the sale of the Jerooy project to KazakhGold
  • Arbitration with the Kyrgyz Republic settled with a net receipt by Oxus of $3.34 million
  • Eurogold litigation settled with a combination of cash and shares

*50% attributable to Oxus

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