Business
Local Andash Study
Local Andash Study.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n Aurum Mining PLC\n06 June 2006\n\n\nFor immediate release 6 June 2006\n\n\n AURUM MINING PLC\n ('Aurum' or 'the Company')\n\n\n Submission of local feasibility study to Kyrgyz authorities\n\n\nAurum Mining plc (AIM: AUR), the company formed to acquire gold and other\nmineral extraction projects in the Former Soviet Union (FSU), is pleased to\nannounce that its wholly owned subsidiary the Andash Mining Company has\nsubmitted a local feasibility study to the Kyrgyz government for the Andash gold\nand copper project in the Kyrgyz Republic. This feasibility study, which covers\neconomic, mining, metallurgical, legal, environmental and social factors for the\nproject, has been completed for Zone 1 and is a key step in the application to\nthe Kyrgyz authorities for a Mining Licence for the Andash Project.\n\n\nThe feasibility study was prepared by Ken-Too Design and Research Centre, the\nleading independent Kyrgyz mining consultancy. This study confirms the resource\nestimates previously included in the State Register of the State Commission of\nResources of the Kyrgyz Republic, which included 21.7 million tonnes of C1+C2\nreserves from Zone 1, amounting to gold and gold equivalent of more than 1.5\nmillion ozs.\n\n\nAurum is also carrying out a Western feasibility study to a JORC resource, which\nwill be completed in September this year. This feasibility study, which is being\nprepared by Wardell Armstrong International, will form the basis of discussions\nfor the project financing of the Andash mine, which will be an open pit\nconstruction with the potential for high production rates.\n\n\nIt is expected that the construction of the mine will begin in early 2007 with\nproduction beginning towards the end of 2007.\n\n\nMark Jones, Aurum Mining's Chief Executive, said: 'The submission of the local\nfeasibility study marks a further important step in the Company's transition\nfrom exploration to production. The local study forms the basis of our\napplication for a Mining Licence ahead of the start of commercial production in\nthe final quarter of 2007.'\n\n\nFor further information:\n\nAurum Mining plc Tel: 020 7478 9050\nMark Jones, Chief Executive\n\nArbuthnot Securities Tel: 020 7012 2000\nGraham Swindells\n\nBuchanan Communications Tel: 020 7466 5000\nMark Court/Amy Rajendran\n\n\n\nNotes to editors\n\n\nAurum Mining joined the ...