@lance Wie hoch ist Marakands Anteil an dem Projekt? (Khandiza )
Interim Results for the six months ended 31 December 2005
Marakand Minerals Limited ("Marakand" or "the Company") is pleased to announce
its interim results for the six months ended 31 December 2005.
Highlights include:
• Khandiza Project included in the Uzbekistan National Investment Program
for 2006, per Presidential Decree No. 251 dated 15 November 2005.
• Exclusive option agreements signed to acquire majority interests in
two separate copper / gold exploration license areas located in southern
Turkey. Due diligence expected to be completed by end of March 2006.
Khandiza Project (Uzbekistan)
Marakand has reached agreement in principle with its Uzbek partner,
Goscomgeology, on the project's Joint Venture legal and financial
documentation. Recent changes to the Uzbek tax code have been
incorporated, which will improve the cashflow to Marakand. This has been
submitted to the Government. The Khandiza Project is included in the
National Investment Program for 2006, per Presidential Decree No. 251
dated 15 November 2005. Marakand continues to engage all levels of
national, local and regional Government in an effort to secure the
Khandiza license.
Uzbek Exploration
Limited exploration work was carried out during the second half of 2005,
pending final approval of the Khandiza Project by the Uzbek Government,
which is to include the associated exploration territories. Sulukul, on the
Yakkabag Ridge, remains a priority target for further exploration, where
three zones of massive sulphide mineralization have been identified on
surface over a strike length of over 750m.
Akjilga Silver Project (Tajikistan)
Marakand has submitted an updated work programme and budget for the 2006 field
season to Tajik Geology. Tajik Geology has advised Marakand that the Tajik
Government is still reviewing Marakand's license application and will be
referring the documentation to the Licensing Tender Committee during March 2006.
Corporate Activity
Marakand has signed exclusive option agreements to acquire majority interests in
two separate copper / gold license areas located in the prospective southern
Turkish 'ophiolite belt' related to the Cyprus Arc, and host Cyprus-type copper
/ gold mineralisation. Exploration works, including surface drilling, have
previously been undertaken on both license areas and the Company is currently
compiling and interpreting this data toward developing its work programme for
2006.
Legal and technical due diligence processes are well advanced and expected to be
completed by the end of March 2006.
Financial Results
The company had $625,000 cash at the end of the review period and cash
utilisation is within budget. Marakand does not plan to undertake any further
fundraising until the final Khandiza Project approvals are granted and / or the
other exploration projects are firmly secured. Any short term funding needs will
be underwritten by Oxus Gold plc if required.
Marakand Minerals is a mining exploration and development company focused in
Central Asia and listed on the Alternative Investment Market (AIM) in London,
stock exchange symbol MKD.L.
For further information please visit www.marakand.co.uk or contact:
Marakand Minerals Limited
Alasdair Stuart, CEO Tel: + 998 71 120 7162
Joanna Solino, Investor Relations Officer Tel: +44 (0)20 7907 2000
Buck-Bias Limited
Alex Buck / Nick Bias Tel: +44 (0)7932 740 452
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