Update

RNS Number : 2620D

Aurum Mining PLC

11 September 2008

 



FOR IMMEDIATE RELEASE

11 September 2008

AURUM MINING PLC

('Aurum' or 'the Company')

Update

Aurum Mining plc (AIM: AUR) is giving a further update to the market following the announcements made on 19, 28 August and 3 September 2008, in which it was announced that it had reached a settlement with the plaintiff in the civil case in which the Company's wholly owned subsidiaries Andash Mining Company (AMC) and Kaldora Company Limited were named as co-defendants.

The Bishkek Inter-District Court of Kyrgyzstan has suspended proceedings in the civil case on a technical issue. Under Kyrgyz law, a judge can grant a temporary suspension on a case while it awaits expert advice on key aspects of that case or where the grounds in the case are not clear enough for an immediate judgement to be made.

However, and a measure of goodwill towards AMC, the judge lifted the financial injunction that was previously imposed by the court. The court recognised that the delay in closing the case was having a material impact on the operations of AMC and as a direct result of this ruling AMC is now able to recommence its day to day activities in Kyrgyzstan.

A further announcement will be made in due course.

Mark Jones the Chief Executive Officer stated:

The process of having the case closed in the Bishkek Courts is taking longer then we had hoped, however discussions with the authorities are positive, and as shown by the lifting of the injunction the court understands the importance of resuming normal activities as soon as possible.

For further information: 

Aurum Mining plc	Tel: [phone]
Mark Jones, Chief Executive Chris Eadie, Chief Financial Officer
Arbuthnot Securities	Tel: [phone]
John Prior
Buchanan Communications	Tel: [phone]
Mark Court  Rebecca Skye Dietrich

 

END

 

 

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