Preliminary Results for the year ended 31 March 2007

27/09/2007
Aurum Mining plc (AIM: AUR), the gold-mining company focussed on the Former Soviet Union (FSU) and whose principal asset is the Andash Project in the Kyrgyz Republic, is pleased to announce its preliminary results for the year ended 31 March 2007.

Highlights

  • Aurum is on track for initial gold production at Andash in 2008
  • Strong balance sheet following £30 million share issue in February 2007
  • Identified capex savings at the Zone 1 mine, along with the continuing strength of metal prices, have considerably enhanced the economics of the Andash Project.
  • On-going exploration work will increase Aurum's reserves and offers significant potential upside

Sean Finlay, Aurum's Chairman, commented: "The current year promises to be transformational for the Group. We are advanced with the execution of our plans for the start of construction of the open- cast mine at Andash Zone 1 and look forward to initial production from the mine in 2008. In addition to becoming a near-term gold producer, Aurum has significant exploration potential from other opportunities within the Andash licence area, which should increase the value of our Company significantly. Metal prices are currently strong and the outlook remains positive. We look forward to the future with confidence."

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