Monday, 21st February 2005 (3022 views)

UK miner Oxus Gold has obtained a share in Australia's Eurogold mining firm.

The Australian company could now be at the centre of a bidding war after Oxus took a 17.2 per cent stake in the business, but has yet to offer a substantial shareholder notice.

Oxus chief executive Bill Trew told AAP: "We will be working with the directors and management of Eurogold to develop our association which we believe could have significant benefits to shareholders of both companies."

According to Mr Trew, Eurogold's mining and gold exploration operations in Ukraine and Romania have "some synergy" with Oxus' assets in Central Asia.

Eurogold shares ended trading up two cents at 20 cents.

 

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