Aurum Mining Share Discussion Threads

[bushtuckaman] 02/4/2009 10:57

VQ, NGL have a JORC resource 3.6 million ounces of gold in Australia for a MCap £22m.

Oh and they have full fuctional mill that produce 80k oz pa too

And your saying a 1.1m oz deposit that needs $65m spent on it in a rather dodgy neighbourhood is work £100m.
plz

[davros006] 02/4/2009 10:57

UEN got 25c p/bbl on an asset sale, never mind $4.... lol.
And thats should illustrate Stuarts point about where the company is, and the risks attached to working there.

[very quick] 02/4/2009 10:55

Stuart14: Whatever makes you happy? Grow up.

[stuart14] 02/4/2009 10:48

Very Quick, last week you were saying this was going to 1p!

They need £30 odd million to get the Gold out of the ground, and are operating in a very high risk country (hence all the problems to date).

You'd never get $700 per ounce in the ground. Maybe $50 tops.

Same with Oil. You don't get $48 per barrel for Oil in the ground. At the moment you get $4.

[stuart14] 02/4/2009 09:52

Agreed. Think we could get 10p for the fleet, 8p forthe cash and maybe 25p for the mine TOPS. In all, i'm hoping for an offer for the lot for around 25p.

[bushtuckaman] 02/4/2009 09:43

VQ, £1 per share for the mine would value it at £45m. The mine need a load of capital ($65m rings a bell) spent on it to bring it into production, so the value would be a whole lot less that £1 imho

[very quick] 02/4/2009 09:14

Davius: AUR have 1.1 million ounces of gold, what does this add up to in value?
well its worth a lot more then 5p and thats not to mention the value of the copper. Copper has fallen but will recover.
I think if the mine is sold its worth at least £1 per share in current market.
If the mine is not sold, then a mining partner would be the answer.
The CEO said he can't rule out one or the other, " sooner rather then later. "
So on that info. I am here to stay.

[very quick] 02/4/2009 09:10

tiltonboy: we did have an announcement on wednesday. " barclays increased their holding. " not the one i was expecting. LOL? sorry.

[s4tan] 02/4/2009 09:01

pmsl - u topping up your short :)

[davius] 02/4/2009 08:58

Well one thing's for sure, they are now a highly geared investment. A couple of pence can mean a hefty percentage move. It also says something about current investment attitudes if 5p now is worth more than perhaps 20p in a year or two. I wouldn't stick a small fortune into such a stock but it would be easy to find a worse place for a grand. It seems to me that the risk here is pretty limited.

[tiltonboy] 02/4/2009 08:52

VQ,

Is that like the CRA announcement that was a certainty for Wednesday...lol...

tiltonboy

[very quick] 02/4/2009 08:47

Was expecting this to fall to 3.3p
Not bad at current levels.
I'll take the cash offer and wait for lots more.
Like i said a few weeks ago, " i spoke with the CEO and all he could tell me was. " Watch this space. " regarding sale of the mine or mining partner. " he said sooner rather then later. Market sensitive info and all that, he could not say anything much.

[tiltonboy] 02/4/2009 08:41

Davius,

Arbuthnot have produced a note this morning suggesting the shares would fall to about 5p(which they have).

They reckon that with cash and assets to be sold, there could be 7p in cash. Whilst they believe investors will attribute little or no value to the mine, they believe it could be worth 15p.

They also belive investors will likely take 5p now, rather than wait for a possible 22p.

Doesn't look too much downside, but equally can't see much upside at the moment.

tiltonboy

[zangdook] 02/4/2009 08:33

Nope

2 ZF001IAQGY 35.0 2288 O 5.0 8.0 8:10:23 2,288 3,288 4,000

[william-just] 02/4/2009 08:26

then it had delete listed by it

[zangdook] 02/4/2009 08:24

Somebody bought a couple of thousand for 35p at 8.10 this morning.

!

[davius] 02/4/2009 08:19

That looks to have worked out quite well I think.

From a close of 35-37p we are now trading at 5-8p, an equivalent of 38-41p, with trades being offered at 5.25-7.75p.

Market cap is now £3.13m and they have £2m in cash and a 1m+ ounce gold mine.

Take the profit now (small as it is), hold for a second possible capital repayment in a few months, or add?

Hmm.

[william-just] 02/4/2009 08:19

Has this co any other assetes.

[davros006] 01/4/2009 13:08

I concur Dav.

[davius] 01/4/2009 12:43

Slightly misleading RNS as ex-rights is tomorrow I believe. And I see someone sold 10K shares at 35p this afternoon, I hope that they don't expect to get their 33p as well!

I think that the RNS should have read:

"This approval means that every Shareholder who was on the register of members as at 6.00 p.m. on 31 March 2009 will receive 33 pence in cash for every Ordinary Share held at the close of business on 1st April"

[stuart14] 01/4/2009 12:14

Court Case Approved. Cash back nearly sorted!

[davros006] 01/4/2009 12:14

Reduction of Capital - Court Approval (Aurum Mining)





TIDMAUR

RNS Number : 9182P
Aurum Mining PLC
01 April 2009

?
1 April 2009
AURUM MINING PLC
("Aurum Mining")


Court approves Reduction of Capital


Aurum Mining announces that it has received Court approval for the Reduction of
Capital. The Reduction of Capital will become effective once the order granted
by the Court has been registered at Companies House. This approval means that
every Shareholder who was on the register of members as at 6.00 p.m. on 31 March
2009 will receive 33 pence in cash for every Ordinary Share held. It is expected
that cheques will be despatched to Shareholders on 14 April 2009.
All capitalised terms in this announcement have the same meanings as set out in
the circular that was sent to shareholders on 23 February 2009.