Arawak Energy issues additional share on LSE

Arawak Energy, a Canadian oil company with oil and gas assets in Kazakhstan, will conduct an additional issue of 400,000 shares on the London Stock Exchange (LSE) next week, the company said in a statement.

At the beginning of July, Arawak Energy completed a listing on the KSE, placing 182,244,500 shares at a starting price of 127 pence per share. Its shares closed at 114 pence on July 14.

Arawak’s shares are also listed on the Toronto Stock Exchange (TSE).

Kazakhmys plans to start gold production at Bozymchak in Kyrgyzstan in 2009

Kazakhmys is planning to start gold production at Bozymchak deposit in Kyrgyzstan in 2009, the company said in a statement on Tuesday.

The company projects annual production to reach 30 koz of gold and 7 kt of copper.

“The Bozymchak Gold Project in Kyrgyzstan has successfully completed its pre-feasibility study, and the Board of Kazakhmys has approved progressing the project to the feasibility stage. The feasibility study should be completed by the end of 2008 and will continue to be managed by consulting engineers WorleyParsons,” the statement says.

“At the same time lead investment of up to $22 million has been approved for the project. The investment of $22 million will be for establishing essential infrastructure and will ensure that the project remains on schedule,” according to the statement.

Kazakhmys acquired the Bozymchak deposit in south western Kyrgyzstan in July 2007 as part of the assets of Eurasia Gold Inc. The deposit is estimated to contain combined indicated and inferred resources of 16.5 million tonnes with 0.95% copper and 1.58 g/t gold.

Kazakhmys PLC is a leading international natural resources group, listed in the UK and Kazakhstan, with significant interests in copper, gold, zinc, silver, power generation and petroleum.