Commercial Agreement on Sale

RNS Number : 4689J

Aurum Mining PLC

31 March 2010

 



31 March 2010

AURUM MINING PLC

("Aurum" or "the Company")

Aurum Mining Plc announces that is has reached commercial agreement with Kentor Gold Limited ("Kentor") for the acquisition of its remaining 10 per cent. interest in the Andash asset for a consideration of US$2.2 million, to be paid in three instalments by 30 July 2010. In addition to the cash consideration, Kentor will be releasing Aurum from the indemnities and warranties made in the original purchase contract.

The commercial agreement is still subject to both Kentor undertaking due diligence, expected to conclude within 14 business days, and upon Investcenter Talas LLC waiving their pre-emptive right to the acquisition.

For further information:

Aurum Mining plc	Tel: [phone]
Mark Jones, Chief Executive Chris Eadie, Chief Financial Officer
Arbuthnot Securities	Tel: [phone]
John Prior
Richard Johnson

 

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