Last checked at 11 Feb 2016 15:40
11 February 2016
AURUM MINING PLC
("Aurum" or the "Company")
Convertible loan agreement
Directorate Dealing
Aurum Mining plc (AIM: AUR), the Spanish focused gold and tungsten explorer, announces that it has entered into a convertible loan agreement with David Williams, Chairman of Aurum. The loan is unsecured, accrues no interest and has no fixed repayment date. The loan is convertible at the price at which equity in the Company is next issued. The value of the loan is £50,000.
The loan proceeds will be used to fund the Company's gold portfolio in north-west Spain.
In addition, the Company has today been informed that Mr Williams has purchased on 11 February 2016 1,000,000 shares at an average of 0.76 pence per share. Following this purchase, Mr Williams has a beneficial interest of 29.73% of the current issued share capital of the Company.
Contacts: | |
Aurum Mining plc | www.aurummining.net |
Sean Finlay | +44 (0) 20 7499 4000 |
WH Ireland Limited | Nominated Adviser & Broker |
Mike Coe, Ed Allsopp | +44 (0) 117 945 3470 |
Notes to Editors:
Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.
Gold
Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a 58% interest in the Pino de Oro project in Zamora Province and a 53% interest in the Peralonso and Cabeza projects in Salamanca Province.
Tungsten
Aurum's 20% owned Morille Tungsten project is located approximately 15km south west of Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a 'brownfield' site with historical data indicating production from the site of high quality tungsten concentrates.