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Last checked at 
22 Jun 2010 11:48
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For Immediate release |
22 June 2010 |
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AURUM MINING PLC
("Aurum" or "the Company")
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10% Andash disposal update
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Aurum Mining plc (AIM: AUR) is pleased to announce that it, together with a subsidiary (the 'Aurum Group'), has entered into an option agreement with Kentor Gold Limited and a subsidiary ('Kentor')Β under which Kentor has a nine month exclusive option to acquire the Aurum Group's remaining 10% stake in the Andash project in the Kyrgyz Republic for US$1.8m ('the sale price'). Kentor also has the right to extend the option for an additional six months for a payment to the Aurum Group of US$150,000 which would be deducted from the sale price in the event that Kentor exercises its option.
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In return for the granting of the option, Kentor will release Aurum from all the warranties and indemnities given by Aurum to Kentor in October 2009 when Aurum agreed to dispose of an 80% stake in the Andash project.
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For further information:
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Aurum Mining plc |
Tel: 020 7499 4000 |
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Mark Jones, Chief Executive Chris Eadie, Chief Financial Officer |
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Arbuthnot Securities |
Tel: 020 7012 2000 |
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Richard Johnson |
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