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squeek

Aurum Mining (AUR.L)

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I've only just started to be interested in shares and companies so please go easy.

 

I've had a look at Aurum Mining who are at 123p at the minute with 12.4m shares, so a value of £15m. They have a news article about a proposed mine at Andash Zone 1 in the Kyrgyz Republic.

 

The feasibility study confirms a proven and probable reserve at Andash Zone 1 of more than 1.2 million ozs of gold and gold equivalent. It also confirms that the open-cast Andash operation will combine low costs with high production rates.

 

Now by my thinking if they got 1 million oz and gold was £300 an oz, that's £300 million so quite a large discrepancy on my £15m I worked out. There's the cost of mining it, but I'm sure this doesn't cover the difference. Am I missing something?

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