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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (45612)	10/20/2009 10:47:06 PM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Kentor Gold finally agrees to take on Andash project from Aurum Mining 19 October 2009 smallcapnews.co.uk Aurum Mining has finally received the news it wanted to hear, with confirmation that Australian miner Kentor Gold is taking up its option to buy its stake in the Andash project in the Kyrgyz Republic for US$15 million. The news comes just three weeks after Kentor extended the option period by three months as it continued to scour the details of the deal. The parties are understood to now be working towards finalising the terms of the disposal agreement, with an agreement expected within days. Aurum’s shareholders still need to give their approval for the sale, with will leave the company needing to define new investing strategy under AIM rules. Kentor’s decision to extend the option agreement on September 28 for an extra three months triggered a US$300,000 payment to Aurum. The terms of that clause now look very attractive – with Aurum pocketing around US$14,285 for every day of the 21 days that Kentor prolonged the deal.