Aurum Mining plc joined the AIM market of the London Stock Exchange in May 2004 with the strategy of acquiring gold projects in the Former Soviet Union (FSU). The Company's management and consultancy team - which brings together formidable experience of mining, the FSU and financial markets.

Update

As a result of the majority disposal of the Andash Project in December 2009, Aurum is now deemed to be an investing company. The board are currently looking at M&A opportunities in line with its Investing Strategy that was approved by Shareholders in November 2009.

The Andash Project

Aurum acquired the licence to the Andash exploration area in northern Kyrgyz in January 2005 and has since advanced Zone 1 to a Proven and Probable reserve of 1.1 million ozs of gold and gold equivalent in copper. The licence area, which extends to 53 sq km, includes a further two ore bodies and five exploration zones, offering a substantial opportunity to increase the Andash Project's resource base and to maximise the mine life and cost efficiency of the proposed mine at Andash Zone 1. Aurum received a Mining Licence for Zone 1 from the Kyrgyz authorities in 2006 and also completed a fully bankable feasibility study, led by Wardell Armstrong International. Zone 1 has a JORC compliant P&P resource of 16Mt of ore at a grade of 1.05g/t and 0.4% copper.

Andash Mining Company (AMC) Aurum Mining's subsidiary in Kyrgyzstan successfully completed the technical design work for the construction of the open-cast mine at Zone 1 during 2007. The design documentation has been approved by the relevant Kyrgyz authorities

On December 22nd we announced that the transaction to dispose of the Company’s 80% stake in the Andash asset completed and all the relevant proceeds had been received and we are in the final stages of buying back 10% of the Andash asset from the local partner.

On the completion of this transaction Aurum will have a carried interest of 10%, as will the Local partner and Kentor Gold will have 80%.