Oxus Gold seeks arbitration order to protect Kyrgyz investments

AFX News

Oxus Gold seeks arbitration order to protect Kyrgyz investments

11 September 2006

LONDON (AFX) - Mining company Oxus Gold PLC said it is seeking an arbitration order to protect its investments in Kyrgyzstan, following the government-sponsored seizure of premises owned by Talas Gold Mining Co, Oxus’ joint venture company at Jerooy. Oxus said that representatives of Jerooyaltyn, a recently created joint venture between Kyrgyzaltyn and Global G.o.l.d, and local police forcibly took possession of the building on Thursday in direct contravention of the UK-Kyrgyz Bilateral Investment Treaty and Kyrgyz law.

Oxus has submitted an urgent request to the UNICTRAL arbitration tribunal requesting an immediate order to force the Kyrgyz government to provide full protection and security for the plant and associated buildings and equipment, and to allow Oxus unrestricted access and possession of the plant and buildings.

CEO Bill Trew said: ’The plant and associated buildings at Jerooy are all owned by companies in the Oxus Group and are on land to which Talas Gold Mining Co, our joint-venture company, has legal possession. This land is also outside the area of land allocated to Jerooyaltyn by the recent, and wholly unlawful, license dated 23 May 2006.’

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  • Oxus Gold seeks arbitration order to protect Kyrgyz investments10-July-2007 |

    Oxus Gold seeks arbitration order to protect Kyrgyz investments. Yet Oxus does not appear to set the example by looking after its employees.

    "Press Release
    Sean Daley
    Friday, 7th July 2006
    Oxus Gold plc
    Statement re Mr Sean Daley

    LONDON: 7 July 2006 - Oxus Gold plc (“Oxus” or “the Company”) is greatly shocked and saddened to learn of the shooting of Mr Sean Daley in Bishkek in the early hours of this morning.
    Mr Daley is a long-term resident of Kyrgyzstan and since April 2006 has been leading the negotiations with the Kyrgyz Government on behalf of Oxus with regard to the Jerooy Gold Project.
    Mr Daley knows the Kyrgyz Republic and its people very well. He has developed good relationships with Government officials and is a well respected member of the business community in Bishkek. Mr Daley is currently in a stable condition in hospital. The Company offers its complete support and hopes that he will make a full and healthy recovery..................................................

    ONE YEAR ON: NO DIVIDENDS FOR DALEY

    Today 6th July 2007 is exactly one year to the day on the assassination attempt on Oxus Chief Negotiator Sean Daley.

    Four bullets were fired at Sean Daley with one bullet penetrating into his lower back.
    Daleys’ right kidney was destroyed and removed. After life saving surgery, the bullet today remains deep in his liver. Mr Daley spent months in hospital and now one year later is still under medical supervision.

    Not one of Oxus Directors visited their Chief Representative over the many months he remained in intensive care in Hospital or even visit his immediate family, wife or children to offer support..................................................

    more at: http://www.tbandu.co.uk/cgi-bin/teemz/teemz.cgi (Oxus: 24 Karat Gold or Pyrite?)

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