LONDON (ShareCast) - Shares in Oxus Gold rocketed 47% after it said accountants had submitted a detailed assessment of losses as it continues to battle the government of Uzbekistan over the taking of two of its mineral assets in the country. The firm added the Uzbek government had agreed to temporarily suspend its $10.84m claim against Oxus that was to be heard in the British courts.

Petrel Resources was also a hot property after it appeared to have sorted out problems in Iraq. The firm said it had clarified its position with the national authorities in relation to existing and historic projects in which Petrel has or had an interest. However, it gave no more detail. It added that work with national and regional authorities in Iraq to identify projects in which Petrel can be involved was ongoing. Share were up 23% following the news.

Stellar Diamonds was another riser after it released positive sampling results from the Katcha Dyke at its Droujba kimberlite project in Guinea. "The high grades from bulk sampling at the Katcha Dyke demonstrate its potential to enlarge the Droujba project resource base," said Chief Executive Karl Smithson. "The presence of several large near gem quality diamonds up to 15.8 carats in size from this relatively small diamond parcel is further cause for encouragement," he added. The company's stock rose 4% on the news.

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