Interim Results for the six months ended 30 September 2009

07/12/2009

AURUM MINING PLC

("Aurum" or "the Company")

  Interim Results for the six months ended 30 September 2009

 

Aurum Mining plc (AIM: AUR), the gold mining company focused on the Former Soviet Union (FSU) and whose principal asset is the Andash Project in the Kyrgyz Republic, announces its interim results for the six months ended 30 September 2009.

Key points

•·         US$13.6m net proceeds from the disposal to Kentor of a majority stake of the Andash asset and ancillary mining fleet currently expected by the end of the calendar year  

•·         The company will retain a 10% interest in the Andash project post completion of the deal with Kentor

•·         Shareholders approved the Company's future investing strategy at the General Meeting held on 12 November 2009

•·          Existing cash balances of approximately £1.2m

•·         The Board is currently evaluating a number of exciting acquisition opportunities and hopes to make a recommendation to Shareholders by the end of the Company's financial year

Sean Finlay, Aurum's Chairman, said: "The Board looks forward to the next phase of Aurum's transformation with great confidence, a situation that would have been unthinkable only six months ago. This not only highlights the great progress made over this period, but also demonstrates the confidence that the Board has in delivering strong returns to all the Company's stakeholders in the near future.''

Enquiries:

Aurum Mining plc

Tel:   020 7499 4000  020 7499 4000

Mark Jones, Chief Executive

Chris Eadie, Chief Financial Officer

 

 

 

Arbuthnot Securities

Tel:   020 7012 2000  020 7012 2000

John Prior

Richard Johnson

 

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