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Surge in Mosman price impacts Aorere net asset value

3 July 2014

NZX Announcement

Surge in Mosman price impacts Aorere net asset value

Aorere Resources Limited holds approximately 13.1% of this AIM listed company, and will hold 12.3% after the recently announced Trident acquisition is completed.

Our Mosman shareholding now has a present market value of NZD 7.3 million, based on the present market price of 36.25 pence. As a result the undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 2.08 cents.

Interestingly Aorere’s present market value at the most recent trade of 0.8 cent per share is NZD 5.4 million. This represents a 61% discount to the net asset backing of $11.3 million.

The table below details the present market value of the various components of the portfolio.

Aorere Resources LimitedPortfolio Analysis as at 3 July 2014 541,389,481
Asian Minerals 382,1410.07
King Solomon 43,4190.01
Chatham Rock 3,505,1200.65
Minor investments 31,5100.01
Mosman 7,273,0861.34
Akura 141,1010.03
Cash 100,6550.02
Accruals (204,000)(0.04)
11,273,0332.08

Regards,

Chris Castle, Managing Director
Aorere Resources Ltd
London, 3 July 2014

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