Marakand Minerals Share Discussion Threads

[tee man] 13/3/2006 13:43

Could you tell us GS where this bit of info is from?

[giant steps] 13/3/2006 13:35

OXUS must be confident of Khandiza 'green light' as they are now
offering 1 for 3 to remaining holders.

What is particularly interesting is that if the terms of swap improve
in the coming 12 months they will compensate with corresponding 'top-up'


Please do your own research on these matters, no advice intended.

[giant steps] 13/3/2006 09:31

Too early to say 'done and dusted' - need to see how deals unfold

Screen prices bid 19.5p offer 20p, volume @ 09:30 50K / 3 trades

[hectorp] 13/3/2006 08:45

Done and dusted for MKD then ? bounce to 23p and thats it.. this week I suppose.
Was really hoping for 40-60p this year but well..

[zaphod99] 13/3/2006 08:30

[March 11, 2006]


Oxus to pump $71 mln into Uzbekistan polymetals project

(Interfax News Agency Via Thomson Dialog NewsEdge)TASHKENT. March 10 (Interfax) - Marakand Minerals Ltd., a subsidiary of Oxus Gold plc, plans to create a joint venture by the end of 2006 for the $71-million project to explore and develop the Khandiza polymetallic ore deposit in Uzbekistan's Surkhandarya region.

Marakand Minerals said on its web-site that the project had been included in its 2006 investment budget and that the deposit should go on stream late 2007 or early 2008.

A project feasibility study says that a facility
capable of
processing 650,000 tonnes of ore per year will be built and
that themine will have a life of at least 15 years.

Marakand Minerals will finance the project itself. It has so far raised around $8 million on the AIM.

Oxus owns 81.6% of Marakand Minerals, set up especially for the Khandiza project. Earlier it was thought that Marakand Minerals would sign a concession agreement with the Uzbek government.

Khandiza contains a proven resource of 14.4 million tonnes
of ore
with an average content of 7.24% for zinc, 3.5% for lead,
0.86% forcopper, 134 g/t for silver and 0.38 g/t for gold. The ore also contains selenium, cadmium and indium.

Oxus Gold Plc. was set up in 1996 for mining projects in Central Asia. It and the Uzbek government signed an agreement on the Khandiza project in 1996. The government granted Oxus the exclusive right to explore and mine the field in September 2003. pr

[tee man] 13/3/2006 08:14

I think the fact is that if an RNS comes out and says Jerooy is lost the share price will still dive. It may well recover fairly quickly however, as I agree the share price is where is should be without Jerooy or even lower than where it should be. But that said the silver production is not where we all thought it would be by now the sulphides operation is not where I thought it would be by this stage either.

[greg the grinch] 13/3/2006 08:11

cezary.
good call with your new KIM bb .
that is without a doubt my new multibagger of choice.
yeehaaa!

[giant steps] 13/3/2006 08:03

tee man - surprised you don't think Jerooy downside in OXS s/p

Still reads like many positives for MKD and OXS.

[giant steps] 12/3/2006 19:45

Hectorp - will not be surprised if OXS announce Jerooy resolved

(to please those that converted)

[hectorp] 12/3/2006 18:43

well, we'll see soon. So at least 3p upside and no downside IMO. But hey that won't make the many XS shareholders who hold from the start happy. But then, if back in OXS fold, and the licence came through, they'd be quids in . Hey make sure you are also an OXS shareholder. WOuld not be surprised to see the share price run up to 23p this week anyhow!

I like some of the ideas like a Torronto listing but thats probably jumping the gun. Also the Uzbeks seems to be happy enough with OXS so why worry.

[nobull] 12/3/2006 11:17

otd, the only good reason I can think the directors didn't wait for the offer document, was that they were afraid of a false market developiing in MKD shares if the info about the Chairman resignation and the director share sales leaked out on its own without the necessary counterbalancing info about it being in the innterests of both MKD and OXS shareholders that this occurred. In the old days before the internet, perhaps this sort of info could be saved up to be released when the offer document was ready.

A further clue that may support Teeman's theory is the presentation in Russian on the MKD web site. This may indicate we are about to get a Russian partner who will provide the MKD finance, and at the same time change the "nationality complexion" of MKD to be more attractive to the Uzbeks? Norilsk Nickel has a profit of 900m$ does it not on its sale of shares in Gold Fields, and is on the look-out for base metal projects in the FSU.

[nobull] 12/3/2006 10:15

Thanks otd. Yes, you are right. I hadn't thought about the implications of which news comes through first (Jerooy or Khandiza). The share price of OXS seems unusually steady in the face of a fall in the gold spot price this week and in the gold futures prices. In view of what you say, I think we will receive an offer document this week: by Wedenesay perhaps, so that the terms of the offer don't need to be different from that which the directors have got. But then why didn't the directors wait for the offer document themselves? I don't know the answer to that.
I do think an Oxus company owning 100% of MKD, and listed in Canada (still keeping a listing in London too) would be more conducive to getting the Khandiza licence. We could then be a "Canadian" mining company with a secondary listing in London as far as the Uzbeks are concerned. (Canadian politicians better at voicing their criticisms in private?)

[otd] 12/3/2006 09:15

Nobull, good post. Talking about conflict of interests, at the moment I cannot really see why OXS-shareholders running MKD would be good for all shareholders. Why didn´t they wait untill an offer was made to all shareholders. It would have been a good statement: ´we support the offer and therefore we will take it´. I guess that we will find out soon enough why this is supposed to be good.

I am not convinced that we will be offered a 3:1 deal. At the moment sure, but also when OXS starts to rise (good news from Jerooy or other developments)? Looks like a race against the clock to me. Good news from MKD and we should get a better deal, good news at OXS and the deal is worse... Good news from Jerooy would explain why the institutional investors and the directors are selling now.

[nobull] 11/3/2006 10:15

Missed all these developments yesterday. Agree with Cezary and GS: we will get the same offer, worth about 23p a share. Trew has to resign, because he has a conflict of interest, and can't tell us we are best advised to take up the offer without all sorts of accusations? Can't see a chnage of control occuring as in a sale to someone like Norilsk Nickel (the directors surely would want to share in the premium for themselves too from a change of control). The statement it is in the interests of Marakand shareholders is for people like me of a nervous disposition who are scared to death by resignations and director share sales. I am, but I continue to hold that Mr Stewart is a nice man and won't announce any horrible news to screw us now that he doesn't own any MKD.

Marakand may need a "nationality change" to be more acceptable to the Uzbeks to get the licence (It is a pity Mr Straw couldn't voice his criticisms in private to the Uzbek Govt. instead of using a megaphone). Becoming part of a group (Oxus?) whose shares are listed in Canada may be it. This would also cut reduce the no. of decrees needed to get the JV approved? (Another decree was needed to subsitute Marakand for the Oxus subsidiary that had the exclusive right to negotiate the development of Khandiza?). Reversion of MKD back to Oxs ownership is in our interests (even at a grotty price of 23p) because without that we won't get the licence, and will be bust? Yes, Teeman your theory is interesting too: a part sale for free finance? Think I am with Zaphod on this, just. A North American listing of Oxus perhaps offers the cheapest financing options for Khandiza?

[pecker1] 10/3/2006 19:35

OXS obviously wants the MKD assets back with them not least because they probably will have more clout with both the Uzbek authorities and with the banks. I think Phillis was right the other day when he said it is only a matter of time before OXS makes an offer for the outstanding shares.

Bang goes my ten-bagger designate! But on sober reflection (it's still early!), OXS with the MKD assets wholly in the bag seems much more substantial - the silver resources alone probably exceed the silver resources of Western Silver which Glamis bought for $1billion a couple of weeks ago.

[cezary] 10/3/2006 19:34

I think MKD will get the license in the next 2 weeks and if anyone is still holding will benefit at least 3 times from it. At which point Oxus will inform the pi s' they can exchange their MKD shares for OXUS shares on a 1 for 1 basis or something near to that.

[giant steps] 10/3/2006 19:21

If OXS starts to move forward it will be all eyes
on MKD share price to see if it behaves like OXSW

Would be great to have Jerooy resolved, an immediate 20p+ on Oxus

Perhaps J & K to be simultaneously announced.

[hectorp] 10/3/2006 19:17

IF still open I'll buy a large batch on Monday. It seems inconceivable its not been pinched off,.!
Someone will buy 10 M and that'll be it.

It also seriously,! depends where you expect OXS to be next week. It could well be heading up again. In which case this is an even better play - am I on the right track.

[ad1967mc] 10/3/2006 19:16

It all boils down to whatever OXS are up to? They certainly haven't deemed fit to let us in on their secret. The MKD Directors must know what is going on, but judging by their actions and lack of words, I'm feeling quite cynical towards them. Judging by the discount MKD continues to trade at compared to OXS, the market shares my sentiment.

[giant steps] 10/3/2006 19:08

Hectorp - i think we need to establish from Marakand if 1 for 3 offer is still
on the table for PI's. Given it applied to institutions and directors, i would
be very surprised if they ignored the remaining investors.

Eurofox - looks like an arbitrage opportunity, MM's will exploit it

[hectorp] 10/3/2006 18:56

that is sure to be about closed off now. Not a good way to play it. Only buy MKD if you think the licence will be issued. Thats my reason for holding this.

[eurofox] 10/3/2006 18:53

are people generally agreeing that there is an arbitrage opportunity between 3 MKD shares and an OXS share, and in the light of the latest information, what do people think is the best way to exploit it?