Aurum Mining PLC Convertible loan agreement & Director dealing (8368O)
February 11 2016 - 10:40AM
UK Regulatory
TIDMAUR
RNS Number : 8368O
Aurum Mining PLC
11 February 2016
11 February 2016
AURUM MINING PLC
("Aurum" or the "Company")
Convertible loan agreement
Directorate Dealing
Aurum Mining plc (AIM: AUR), the Spanish focused gold and
tungsten explorer, announces that it has entered into a convertible
loan agreement with David Williams, Chairman of Aurum. The loan is
unsecured, accrues no interest and has no fixed repayment date. The
loan is convertible at the price at which equity in the Company is
next issued. The value of the loan is GBP50,000.
The loan proceeds will be used to fund the Company's gold
portfolio in north-west Spain.
In addition, the Company has today been informed that Mr
Williams has purchased on 11 February 2016 1,000,000 shares at an
average of 0.76 pence per share. Following this purchase, Mr
Williams has a beneficial interest of 29.73% of the current issued
share capital of the Company.
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 58% interest in the Pino de Oro
project in Zamora Province and a 53% 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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