Aurum Mining Share Discussion Threads

[scotswhaehae] 24/9/2010 16:29

Thought I'd just post a friday pm offering on the day the 15p cash circular is posted
What do we guess the share price will become ex the 15p ??

Best wishes all..its taken a while...stick your winnings in BAO? (no advice intended!)

[josels] 22/7/2010 14:32

lol
I think I bought mines from Davius at a spike some months back, and now there are about to stop loosing money, here we go....

[flinnyourin] 22/7/2010 09:46

Thanks Zangdook looks interesting.

[trustman] 22/7/2010 09:33

Looks like a breakout.....any newsflow?

[flinnyourin] 21/7/2010 15:16

Weiss still buying i see another 5 million to his collection, i think he is a bit of a shrewd cookie on the side did very well at CAD, does anyone no where you can find out what else he is buying into.

[piperpeter] 21/7/2010 11:55

Aurum RNS 30 June 2009.

"The Andash project also includes Zone 2 and Zone 3 along with Tokhtonysay, Nakhodka and three other additional exploration areas".

Pp.

[piperpeter] 21/7/2010 11:33

"We have potential to add reserves at Andash #2, Andash #3, Nahodka, Jerjanak, Chonkyshto, Toktonysai......."

[flinnyourin] 15/7/2010 13:33

Yes indeed as before the last cashback of 32p the gold mine was valued at nil by the city but they gave us the cashback and got a buyer for the gold mine in a bad recession and now we will get another 16-17p cashback and still keep our shares which could be worth another 4p +.

It would have been interesting to see what opportunities they had, it does seem like an opportunity mist but never mind we still do very well out of it.

[kiwimonk] 15/7/2010 10:15

Looks a well thought out plan Flinn from the BOD's -

[flinnyourin] 15/7/2010 10:04

I`ll go first then -

16.5p cashback leaves £650000 for expenses

that leaves another £1.8 million from Kentor worth 3.75p and as Kiwimonk says the chance of a juicy RTO and i havent got a clue on that one.

So its 20p + from me.

Still disappoint we never bought anything though.

[kiwimonk] 15/7/2010 08:32

£8.3m in cash - £6m mk cap.

Cash largely to be handed back - so you get your money back and still keep your shares and with the strong likelihood they line up a deal, probably a juicy RTO.

================================================================================


urum Mining plc (AIM: AUR) is pleased to give a strategic update to the market
and to outline the next steps for the Company.

On 22nd June 2010 the Company announced that it had entered into a nine month
option agreement, with the right for a further six month extension, with Kentor
Gold Limited ('Kentor') which gave Kentor an option to acquire the Aurum Group's
remaining 10% stake in the Andash asset for consideration of US$1.8m. As part of
this agreement, Kentor has released Aurum from all the warranties and
indemnities that were given to Kentor by Aurum when Aurum disposed of its 80%
stake in the Andash asset in December 2009. The release from these potential
contingent liabilities is a key step for the Company as it significantly
simplifies the Company's balance sheet and it now allows the Company's Board
(the 'Board') to focus on the next phase of the Company's transformation.

Following Shareholder approval of the Company's investing policy in November
2009, the Board commenced a comprehensive exercise to find new projects for the
Company and despite the relatively poor market conditions the Board was greatly
encouraged by the types of deals and opportunities that were identified. Indeed
the Company reached advanced discussions on three separate opportunities and due
diligence was undertaken on each of them. The Board felt extremely confident of
finding new projects capable of delivering strong Shareholder returns.

Despite this potential, however, a number of the Company's major Shareholders
have recently made known their preference for Aurum to return capital to
Shareholders. As a result the Board is now proposing a twin strategy to return a
very substantial proportion of the Company's existing cash to Shareholders while
preserving the Company's ability to deliver value from both the residual 10%
holding in the Andash asset and from the Company's continued AIM-quoted status.

Free cash in the Company at the end of June 2010 was circa GBP8.6m. This balance
takes into account all known existing liabilities in the Group, but does not
allow for the costs of implementing the return of capital and related matters
and does not include any contingency for any potential UK tax liability that
could arise in the financial year ending 31 March 2010. While the Board is
confident that there are no outstanding tax liabilities for the Company for this
period, the tax returns for the year will need to be finalised and submitted to
HMRC prior to any return of cash.

The Board has already taken steps to reduce costs and preserve cash, and is
currently reviewing its ongoing structure and future cash requirements. Further
details on the future organisational structure and amount of capital available
to be returned to Shareholders will be announced in early August with the
Company's preliminary results for the year to 31 March 2010.

[flinnyourin] 06/7/2010 10:02

Zangdook you could be right, he is buying yet again and i think for the first time we could be heading towards cashback.

[flinnyourin] 23/6/2010 06:36

The most important part of yesterdays RNS was `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`.

We might be selling of our 10% cheap but oviously the managment need all our funds to buy what they have planned, exciting times ahead me thinks may be an oil rig in the falklands would be nice, but i think they will stick with gold.

Zangdook i cannot see that happening but if it does we are still in a win win situation but i would rather see what the management have planned, its in there best interests as well to get the best deal if they come up with something bad everybody is going to want the cash.

[zangdook] 22/6/2010 21:16

But Weiss will be after the cash. I suspect. Judging from his behaviour at CAD.

[kiwimonk] 13/6/2010 09:03

cash exceeds mk cap - savvy management will get a good company into this - either rto or outright.
dyor
km

[flinnyourin] 12/6/2010 07:07

I was shocked to see that KIBO MINING after there fund raising of £1.2 are left with only £629.000 quote `Listing on Aim's not cheap, and now that the company's shares have arrived on Aim it's sobering to note that having raised well over £1 million as recently as March, there's now just £629,000 in the kitty`.

At least all our money is in the bank in US DOLLARS ready to pick up a bargain, i know the well conected and sensible management can do and i do`nt think we have long to wait now, a good investment could easily push the share price north from here.

[catandcrow] 11/6/2010 09:57

But is there still upside?

[kiwimonk] 10/6/2010 08:04

I like this little one - stacked with cash - deal soon - i've been watching the gradual price movements - rock solid in the downturn recently, looks like somethings in the wings.
KM

[staddles] 22/4/2010 12:06

Looks like the recent events have derailed the sale. I am dissappointed that the board is still keen to sell as they are now likley to do so t a significant discount to the level previouly reported to the market. My preferred option would be to retain it as a steady income stream to fund future exploration.

[flinnyourin] 01/4/2010 22:58

Davius - Thats what they told me when i rang them to ask them why they sold the 10%, just give um a ring and explain the above then you will understand one way or the other.

[davius] 01/4/2010 19:31

> Flinnyourin - 31 Mar'10 - 09:56 - 1012 of 1016
> There financial year end is June.

No, their financial year ended yesterday.

Last year end 31-Mar-2009
Last annual report 17-Sep-2009
Last prelim announcement 18-Sep-2009
Last interim period end 30-Sep-2009
Last AGM 23-Oct-2009
Last interim announcement 07-Dec-2009
Next year end (to be reported) 31-Mar-2010

"The Board is currently evaluating a number of exciting acquisition opportunities and hopes to make a recommendation to Shareholders by the end of the Company's financial year"

Presumably they have some plans, just a question of waiting for them to reveal such.

[flinnyourin] 01/4/2010 10:26

Skyracer -

From dec intrims,

The Board is conscious that Shareholders want to see Aurum emerge from this
current phase as a stronger company and whilst it is aware that this is best
expressed by a strong share price, it is also cognisant of the fact that there
is not an unlimited time period in which this needs to happen. As outlined in
the recent Circular, it is the Board's intention to finalise its work on the
proposals that it is currently assessing and complete the appropriate work
required in order to make a recommendation by the end of the Company's financial year.

[flinnyourin] 31/3/2010 23:30

catandcrow - now they have sold the 10% that option is now open and they know that, all the money will be in the bank by July if they wanted to string things out they would have keeped the share in the Andash site.

I dont think Brookdale Global Opportunity Fund would have aquired 1.2m in the last fortnight if they thought this was going no where looks like they were mopping up the sells today with that 200k buy going through, they must be closer to the managment than any of use and i just cannot see this American fund bothing buying this share if there wasnt alot of upside.

[catandcrow] 31/3/2010 22:10

Shareholders could vote down the acquisiton and force liquidation. Why pay these guys to make a minority investment?