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The option is exercisable at any time until Feb 29, 2008 and extendable until 31 March 2008.
Uzbekistan-based private company Zeromax currently holds 62.50 mln shares or 17% in the company. If it exercises the balance of the option in full, Zeromax’s shareholding in Oxus Gold will increase to about 109.25 mln shares or 29.71%.