Aurum Mining Plc

Published : June 17th, 2016

Aurum Mining PLC - Convertible Loan and Trading Update

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Keywords :   Georgia | Gold | Ireland | Ormonde  mining | Spain | Tungsten |

Aurum Mining PLC - Convertible Loan and Trading Update

17 June 2016

AURUM MINING PLC

('Aurum' or the 'Company')

Convertible loan

Trading update

Aurum Mining plc (AIM: AUR), the Spanish focused gold and tungsten explorer, announces that it has raised £100,000 through a convertible loan (the 'Loan'). The Loan is unsecured, accrues no interest and is not repayable. The Loan will be converted at the price at which equity is next issued. If it is so converted, the loan providers are also entitled to a warrant for every share they receive. Each warrant would be exercisable at 2 pence per share.

The Loan will be used to provide on-going working capital for the Company.

David Williams, Chairman of Aurum, is providing £50,000 of the convertible loan finance. His participation in the Loan constitutes a related party transaction in accordance with AIM Rule 13. The Independent Directors, being the Directors other than David Williams, having consulted with the Company's nominated adviser WH Ireland, consider the terms of the loan transaction with David Williams to be fair and reasonable insofar as its shareholders are concerned. Mr. Williams has a beneficial interest of 29.14% of the current issued share capital of the Company.

There was no significant change in the Company's trading in the second half of the year ended 31 March 2016. Results for the year are expected to be announced in the second half of August.

Contacts:

Aurum Mining plc

www.aurummining.net

Sean Finlay

+44 (0) 20 7499 4000

WH Ireland Limited

Nominated Adviser & Broker

Mike Coe, Ed Allsopp

+44 (0) 117 945 3470

Notes to Editors:

Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.

Gold

Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a 56.5% interest in the Pino de Oro project in Zamora Province and a 51.4% interest in the Peralonso and Cabeza projects in Salamanca Province.

Tungsten

Aurum's 20% owned Morille Tungsten project is located approximately 15km south west of Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a 'brownfield' site with historical data indicating production from the site of high quality tungsten concentrates.

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Data and Statistics for these countries : Georgia | Ireland | Spain | All
Gold and Silver Prices for these countries : Georgia | Ireland | Spain | All

Aurum Mining Plc

EXPLORATION STAGE
CODE : AUR.L
ISIN : GB00B00T3528
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Aurum Mining is a gold exploration company based in United kingdom.

Its main exploration property is SALAMANCA & ZAMORA in Spain.

Aurum Mining is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 111.4 billions as of today (US$ 133.3 billions, € 116.8 billions).

Its stock quote reached its lowest recent point on January 29, 2016 at GBX 0.50, and its highest recent level on January 17, 2022 at GBX 115.50.

Aurum Mining has 964 359 200 shares outstanding.

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Project news of Aurum Mining Plc
3/16/2011(Salamanca & Zamora)Option on Salamanca and Zamora projects
Corporate news of Aurum Mining Plc
6/17/2016Aurum Mining PLC - Convertible Loan and Trading Update
11/19/2015Aurum Mining PLC - Half Yearly Report
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