Andrew howson andash mining

Mining of Zones 2 and 3 Aurum has already undertaken material exploration work to test the extent of Zones 2 and 3, which lie to the west of andash 1 and has also embarked howson a preliminary exploratory programme to intersect the large IP anomaly identified to the north of zones mining and 3. The company believes that the mineralisation represents the upper part of the Zone 1 orebody. The company will commence a drilling programme during 2007 to further assess the area and work with mining consultants to establish a resource base.

Dryblower and the era of uncertainty which is driving gold higher in US dollars but not Australian Dryblower notes the devastating comment that is making gold look better every day — except for The new zone shares the geological, mineralogical and structural features of Andash Zone 1, as it has the same host rocks and similar chemical elements both in type and grade. At the moment the share price is a bit exaggerated - depends how howson view the prospects. Results, Balance sheet and Cash The results for the six months to 30 September 2006 showed another period of significant progress for Aurum, particularly in terms of the development of Andash Zone1.

Shares in Aurum Mining were marked sharply lower in late May on rumours that it was facing political difficulties in the Kyrgyz Republic. We expect that as the Zone1 construction of the open cast mine begins and with more drilling results from Zones 2 and 3 during this year, we expect to reduce our heavily risk weightings on Zone 1 and consider attaching some value to Zones 2 and 3.

The Loan notes can be redeemed at par at any time after the first anniversary of the commencement date, and prior to the third anniversary and are convertible at the lesser of 35 pence per ordinary share and the price at which any future fundraising takes place.

Aurum is an AIM listed mining exploration company which is fully funded to take its significant gold and copper resource in the Kyrgyz Republic into production by next year. The loan notes were issued for cash at par on 15 February 2006 with a value of 1 million pounds.

The two big variables for the valuation are the size of the resource and the prevailing metals prices when it goes into production. Since taking control of Andash, Aurum has undertaken sufficient drilling in Zone 1 to show a Proven and Probable reserve of 1.

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??

On a pre-close update announced yesterday, Aurum Mining reported significant progress on preparatory work on the construction of the Andash Zone 1 open cast mine. CFO at Andash Mining. At Nakhodka, recent geological mapping suggests a possible faulted extension of Zone 1, and at Tokhtonysay, a recent geophysical study backed up by sampling and trenching, revealed highly promising results.

Kentor makes progress at Andash - lionmortgage.com

For example, the Kyrgyz Republic has implemented a western style approach to commercial law, banking reform, mining JORC related standards code and currency regulations. There are 47. We initiated our coverage of Aurum on 6th October 2005 with a stance of speculative buy at 45.

In the future, the company aims to expand its core project at Andash and is also planning to acquire other gold and minerals projects in the Former Soviet Union FSU. Our valuation of Aurum is based solely on the deposit already identified in Zone 1 of Andash.

In our view, the company needs around 2 million pounds in order to cover its monthly operating costs until Andash is generating cash and to complete a drilling programme at Andash. The feasibility study anticipates a mining rate of 2 million tonnes per annum with a pit life of 8. Thank you for subscribing! Some of these risks have clearly been reduced since the company commenced operation in Kyrgyzstan. This has caused us to revise upwards the estimated project value for the Andash Zone 1 mine by approximately 7.

Given that copper, approximately accounting for 0.