Aurum Mining PLC
06 June 2006
For immediate release 6 June 2006
AURUM MINING PLC
('Aurum' or 'the Company')
Submission of local feasibility study to Kyrgyz authorities
Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU), is pleased to
announce that its wholly owned subsidiary the Andash Mining Company has
submitted a local feasibility study to the Kyrgyz government for the Andash gold
and copper project in the Kyrgyz Republic. This feasibility study, which covers
economic, mining, metallurgical, legal, environmental and social factors for the
project, has been completed for Zone 1 and is a key step in the application to
the Kyrgyz authorities for a Mining Licence for the Andash Project.
The feasibility study was prepared by Ken-Too Design and Research Centre, the
leading independent Kyrgyz mining consultancy. This study confirms the resource
estimates previously included in the State Register of the State Commission of
Resources of the Kyrgyz Republic, which included 21.7 million tonnes of C1+C2
reserves from Zone 1, amounting to gold and gold equivalent of more than 1.5
million ozs.
Aurum is also carrying out a Western feasibility study to a JORC resource, which
will be completed in September this year. This feasibility study, which is being
prepared by Wardell Armstrong International, will form the basis of discussions
for the project financing of the Andash mine, which will be an open pit
construction with the potential for high production rates.
It is expected that the construction of the mine will begin in early 2007 with
production beginning towards the end of 2007.
Mark Jones, Aurum Mining's Chief Executive, said: 'The submission of the local
feasibility study marks a further important step in the Company's transition
from exploration to production. The local study forms the basis of our
application for a Mining Licence ahead of the start of commercial production in
the final quarter of 2007.'
For further information:
Aurum Mining plc Tel: 020 7478 9050
Mark Jones, Chief Executive
Arbuthnot Securities Tel: 020 7012 2000
Graham Swindells
Buchanan Communications Tel: 020 7466 5000
Mark Court/Amy Rajendran
Notes to editors
Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 with
the strategy of seeking, evaluating and acquiring gold and other mineral
extraction projects in the Former Soviet Union (FSU). In January 2005 the
Company completed its first acquisition, giving the Company an exploration
licence over the Andash gold and copper project in the Kyrgyz Republic. In its
State Register, the State Commission of Resources of the Kyrgyz Republic has
included 21.7 million tonnes of C1 and C2 reserves from the project, amounting
to gold and gold equivalent of more than 1.5 million ozs.
This information is provided by RNS
The company news service from the London Stock Exchange