Aurum 10-Q 21 Mar 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2014	Mar. 15, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Jan-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'AURM	'
Entity Registrant Name	'AURUM, INC.	'
Entity Central Index Key	'0001450708	'
Current Fiscal Year End Date	'--10-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	105,600,000

Balance_Sheets_An_Exploration_

Balance Sheets (An Exploration Stage Company) (USD $)	Jan. 31, 2014	Oct. 31, 2013
Current Assets:	'	'
Cash	$2,845	$12,797
Receivables - Affiliates	19,635	19,696
Prepayments	5,896	8,744
Total Current Assets	28,376	41,237
Non-Current Assets:	'	'
Property and equipment	'	423
Total Non-Current Assets	'	423
Total Assets	28,376	41,660
Current Liabilities:	'	'
Accounts payable and accrued expenses	522,495	402,738
Total Current Liabilities	522,495	402,738
Non-Current Liabilities:	'	'
Advances from affiliates	7,080,131	7,558,320
Total Non-Current Liabilities	7,080,131	7,558,320
Total Liabilities	7,602,626	7,961,058
Stockholders' Equity (Deficit):	'	'
Common stock: $.0001 par value 500,000,000 shares authorised, and 105,600,000 shares issued and outstanding at January 31, 2014 and October 31, 2013.	10,560	10,560
Additional Paid-in-Capital	2,740,207	2,740,207
Retained (Deficit) during exploration stage	-10,235,008	-10,580,156
Retained (Deficit) prior to exploration activities	-90,009	-90,009
Total Stockholders' Equity (Deficit)	-7,574,250	-7,919,398
Total Liabilities and Stockholders' Equity (Deficit)	$28,376	$41,660

Balance_Sheets_An_Exploration_1

Balance Sheets (An Exploration Stage Company) (Parenthetical) (USD $)	Jan. 31, 2014	Oct. 31, 2013
Common stock, par value	$0.00	$0.00
Common stock, shares authorised	500,000,000	500,000,000
Common stock, shares issued	105,600,000	105,600,000
Common stock, shares outstanding	105,600,000	105,600,000

Statements_of_Operations_An_Ex

Statements of Operations (An Exploration Stage Company) (USD $)	3 Months Ended		64 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014
Revenues	'	'	'
Costs and expenses:	'	'	'
Legal, accounting and professional	10,077	8,810	315,081
Administration expenses	49,530	66,696	1,069,652
Consultants salaries - stock based compensation	'	76,154	2,729,167
Exploration expenditure	167,052	321,892	7,079,559
Donations	'	'	100,000
Interest expense	'	1,215	1,629
Total costs and expenses	226,659	474,767	11,295,088
(Loss) from operations	-226,659	-474,767	-11,295,088
Foreign currency exchange gain (loss)	571,807	-54,901	970,537
Other income - interest	'	'	134
Profit/(Loss) before income taxes	345,148	-529,668	-10,324,417
Provision for income taxes	'	'	'
Net income/(loss)	$345,148	($529,668)	($10,324,417)
Basic and diluted net income/(loss) per common equivalent shares	$0	($0.01)	($0.10)
Weighted average number of common equivalent shares (in 000's)	105,600	105,600	104,724

Statements_of_Stockholders_Equ

Statements of Stockholders' Equity (Deficit) (An Exploration Stage Company) (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated (Deficit) during exploration stage	Accumulated (Deficit) prior to exploration activities
Beginning Balance at Sep. 30, 2008	'	'	'	'	'
Issuance of shares (in shares)	'	96,000,000	'	'	'
Issuance of shares	$9,000	$9,600	'	'	($600)
Net income/(loss)	-12	'	'	'	-12
Ending Balance at Oct. 31, 2008	8,988	9,600	'	'	-612
Ending Balance (in shares) at Oct. 31, 2008	'	96,000,000	'	'	'
Issuance of shares (in shares)	'	9,600,000	'	'	'
Issuance of shares	12,000	960	11,040	'	'
Net income/(loss)	-89,397	'	'	'	-89,397
Ending Balance at Oct. 31, 2009	-68,409	10,560	11,040	'	-90,009
Ending Balance (in shares) at Oct. 31, 2009	'	105,600,000	'	'	'
Net income/(loss)	-981,396	'	'	-981,396	'
Ending Balance at Oct. 31, 2010	-1,049,805	10,560	11,040	-981,396	-90,009
Ending Balance (in shares) at Oct. 31, 2010	'	105,600,000	'	'	'
Amortization of 3,250,000 options under 2010 equity incentive plan	2,005,676	'	2,005,676	'	'
Net income/(loss)	-4,777,291	'	'	-4,777,291	'
Ending Balance at Oct. 31, 2011	-3,821,420	10,560	2,016,716	-5,758,687	-90,009
Ending Balance (in shares) at Oct. 31, 2011	'	105,600,000	'	'	'
Amortization of 3,250,000 options under 2010 equity incentive plan	646,953	'	646,953	'	'
Net income/(loss)	-3,531,780	'	'	-3,531,780	'
Ending Balance at Oct. 31, 2012	-6,706,247	10,560	2,663,669	-9,290,467	-90,009
Ending Balance (in shares) at Oct. 31, 2012	'	105,600,000	'	'	'
Amortization of 3,250,000 options under 2010 equity incentive plan	76,538	'	76,538	'	'
Net income/(loss)	-1,289,689	'	'	-1,289,689	'
Ending Balance at Oct. 31, 2013	-7,919,398	10,560	2,740,207	-10,580,156	-90,009
Ending Balance (in shares) at Oct. 31, 2013	'	105,600,000	'	'	'
Net income/(loss)	345,148	'	'	345,148	'
Ending Balance at Jan. 31, 2014	($7,574,250)	$10,560	$2,740,207	($10,235,008)	($90,009)
Ending Balance (in shares) at Jan. 31, 2014	'	105,600,000	'	'	'

Statements_of_Stockholders_Equ1

Statements of Stockholders' Equity (Deficit) (An Exploration Stage Company) (Parenthetical)	12 Months Ended
	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2011
Amortization under 2010 equity incentive plan, options	3,250,000	3,250,000	3,250,000

Statements_of_Cash_Flows_An_Ex

Statements of Cash Flows (An Exploration Stage Company) (USD $)	3 Months Ended		64 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES	'	'	'
Net income/(loss)	$345,148	($529,668)	($10,324,417)
Adjustments to reconcile net income (loss) to net cash (used) in operating activities:	'	'	'
Employee options issued for stock based compensation	'	76,154	2,729,167
Foreign currency exchange (gain) loss	-571,807	54,901	-972,553
Depreciation	423	8,590	106,455
Net change in:	'	'	'
Prepayments	2,848	-8,207	-5,896
Receivables	61	-767	-19,635
Accounts payable and accrued expenses	119,757	-9,720	522,495
Net Cash (Used) in Operating Activities	-103,570	-408,717	-7,964,384
CASH FLOWS FROM INVESTING ACTIVITIES	'	'	'
Purchase of property and equipment	'	'	-106,455
Net Cash (Used) in Investing Activities	'	'	-106,455
CASH FLOWS FROM FINANCING ACTIVITIES	'	'	'
Proceeds from issuance of stock	'	'	21,000
Advances from affiliates	92,405	398,829	8,038,653
Net Cash Provided by Financing Activities	92,405	398,829	8,059,653
Effect of exchange rate changes on cash	1,213	-595	14,031
Net increase/(decrease) in cash	-9,952	-10,483	2,845
Cash at beginning of period	12,797	18,721	'
Cash at end of period	2,845	8,238	2,845
Supplemental Disclosures	'	'	'
Interest Paid	'	$1,215	$1,629

ORGANIZATION_AND_BUSINESS

ORGANIZATION AND BUSINESS	64 Months Ended
	Jan. 31, 2014
ORGANIZATION AND BUSINESS	'
	-1	ORGANIZATION AND BUSINESS
	Aurum, Inc. ("Aurum” or the “Company") is a Delaware corporation, originally incorporated in Florida as Liquid Financial Engines, Inc. The principal stockholder of Aurum is Golden Target Pty Ltd., an Australian corporation (“Golden”), which owned 96.21% of Aurum as of January 31, 2014.
	On January 20, 2010, the Company re-incorporated in the state of Delaware (the “Reincorporation”) through a merger involving Liquid Financial Engines Inc. (“Liquid”) and Aurum, Inc., a Delaware Corporation that was a wholly owned subsidiary of Liquid. The Reincorporation was effected by merging Liquid with Aurum, with Aurum being the surviving entity. For financial reporting purposes Aurum is deemed a successor to Liquid.
	In July 2009, Golden acquired a 96% interest in Aurum from certain stockholders. In connection therewith, the Company appointed a new President/Chief Executive Officer and Chief Financial Officer/Secretary and a new sole Director. The sole director and stockholder of Golden is also the President of the Company.
	Commencing August 2009, the Company decided to focus on mineral exploration for gold and copper in the Lao Peoples Democratic Republic (Lao P.D.R or Laos). The Company is considered to be in the exploration stage.
	In December 2010, the Company executed a Management and Shareholders Agreement with Argonaut Overseas Investments Ltd (“AOI”), an indirectly wholly owned Subsidiary of Argonaut Resources N.L., in respect to Argonaut’s 70% held Century Concession in Laos.
	The agreement appoints Aurum as the manager of the Century Thrust Joint Venture Agreement (“Joint Venture”) and the Company has the right to earn 72.86% of AOI’s interest in the Joint Venture which is equivalent to a 51% beneficial interest in the Century Concession. In order to acquire this interest, Aurum may be required to spend US$6.5 million on exploration within the five year period ending, December 2015.
	The Company’s ability to continue operations through the remainder of 2014 is dependent upon future funding from affiliated entities, capital raisings, or its ability to commence revenue producing operations and positive cash flows.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	64 Months Ended
	Jan. 31, 2014
RECENT ACCOUNTING PRONOUNCEMENTS	'
	-2	RECENT ACCOUNTING PRONOUNCEMENTS
	The Company has implemented all new accounting pronouncements that are in effect and applicable  to the Company. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	64 Months Ended
	Jan. 31, 2014
PROPERTY AND EQUIPMENT	'
	-3	PROPERTY AND EQUIPMENT
	Property and equipment is stated at cost. The Company records depreciation and amortization, when appropriate, using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriate accounts and the resultant gain or loss is included in net income (loss).
				At January 31, 2014							At October 31, 2013
			Depreciable	Cost		Accumulated			Net		Cost		Accumulated			Net
			Life	$		Depreciation			Book		$		Depreciation			Book
			(in years)			$			Value				$			Value
									$							$
	Office Equipment		2-Jan		3,830		(3,830	)		-		3,830		(3,830	)		-
	Computer Equipment		3-Jan		101,975		(101,975	)		-		101,975		(101,552	)		423
	Furniture		2-Jan		650		(650	)		-		650		(650	)		-
					106,455		(106,455	)		-		106,455		(106,032	)		423
	The depreciation expense for the three months ended January 31, 2014 amounted to $423 and for the three months ended January 31, 2013 amounted to $8,590. At January 31, 2014 the Company’s property and equipment is fully depreciated.

AFFILIATE_TRANSACTIONS

AFFILIATE TRANSACTIONS	64 Months Ended
	Jan. 31, 2014
AFFILIATE TRANSACTIONS	'
	-4	AFFILIATE TRANSACTIONS
	The Company entered into an agreement with AXIS Consultants Pty Ltd (“AXIS”) to provide management and administration services to the Company. AXIS is affiliated through common management. The Company is one of nine affiliated companies to which AXIS provides services. Each of the companies has some common Directors, officers and shareholders. Currently, there are no material arrangements or planned transactions between the Company and any of the affiliated companies other than AXIS.
	During the three months ended January 31, 2014, AXIS provided services in accordance with the services agreement, incurred direct costs on behalf of the Company and provided funding of $92,405. During the three months ended January 31, 2014, the foreign exchange effect on the amounts owed to affiliates was a gain of $571,807. The amounts owed to affiliates as of January 31, 2014 and October 31, 2013 is $7,080,131 and $7,558,320, respectively, and are reflected in non-current liabilities - advance from affiliates. Included in these amounts is $232,500 respectively being funds advanced by the Manager of the Laos operations. During the three months ended January 31, 2014 and 2013, the affiliates have agreed not to charge interest.
	The Company intends to repay these amounts with funds raised either via additional debt or equity offerings. Both affiliates have agreed not to call the advance within the next twelve months and accordingly the Company has classified the amounts payable as non-current in the accompanying balance sheets.

GOING_CONCERN

GOING CONCERN	64 Months Ended
	Jan. 31, 2014
GOING CONCERN	'
	-5	GOING CONCERN
	The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of Aurum as a going concern. Aurum has incurred net losses since inception and may continue to incur substantial and increasing losses for the next several years, all of which raises substantial doubt as to its ability to continue as a going concern.
	In addition, Aurum is reliant on loans and advances from corporations affiliated with the President of Aurum. Based on discussions with these affiliate companies, Aurum believes this source of funding will continue to be available. Other than the arrangements noted above, Aurum has not confirmed any other arrangement for ongoing funding. As a result Aurum may be required to raise funds by additional debt or equity offerings in order to meet its cash flow requirements during the forthcoming year.
	The retained deficit of the Company from inception (September 2008) through January 31, 2014 amounted to approximately $10.3 million.

INCOME_TAXES

INCOME TAXES	64 Months Ended
	Jan. 31, 2014
INCOME TAXES	'
	-6	INCOME TAXES
	Aurum files its income tax returns on an accrual basis.
	The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of FASB ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of January 31, 2014, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.
	The Company is required to file tax returns in the United States.
			USA			Total
			2013			2013
			$			$
	Deferred tax assets
	Net operating loss carry-forward			659,242			659,242
	Less valuation allowance			(659,242	)		(659,242	)
	Net deferred taxes			-			-
	The Company has available net operating loss carry forwards which are subject to limitations aggregating approximately $1,938,900 which would expire in years 2028 through 2033.
	The Company’s tax returns for all years since fiscal 2010 remain open to examination by the respective tax authorities.  There are currently no tax examinations in progress.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	64 Months Ended
	Jan. 31, 2014
STOCKHOLDERS' EQUITY	'
	-7	STOCKHOLDERS’ EQUITY
	In September 2008, 96,000,000 shares of common stock were issued to the Company’s founder raising $9,000.
	In March 2009, the Company raised $12,000 in a registered public offering of 9,600,000 shares of common stock share pursuant to a prospectus dated January 30, 2009.
	On September 29, 2009 the Company’s Board of Directors declared an 8-for-1 stock split in the form of a stock dividend that was payable in October 2009 to stockholders of record as of October 23, 2009. The Company has accounted for this bonus issue as a stock split and accordingly, all share and per share data has been retroactively restated.

ISSUE_OF_OPTIONS_UNDER_EQUITY_

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN	64 Months Ended
	Jan. 31, 2014
ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN	'
	-8	ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN
		(i)	In December 2010, the Company issued 2,500,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012. The exercise price of the options is US$1.00 and the latest exercise date for the options is November 17, 2020.
	The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.
	An external consultant has calculated the fair value of the 2,500,000 options using the Binomial valuation method using the following inputs:
	Grant date	13-Dec-10		13-Dec-10	13-Dec-10
	Grant date share price	US$1.10		US$1.10	US$1.10
	Vesting date	13-Dec-10		17-Nov-11	17-Nov-12
	Expected life in years	4.5		5	5.5
	Risk-free rate	1.91%		1.91%	1.91%
	Volatility	95%		95%	95%
	Exercise price	US$1.00		US$1.00	US$1.00
	Call option value	US$0.78		US$0.81	US$0.83
	At October 31, 2013 and January 31, 2014, there are 2,500,000 options outstanding with an option price per share and weighted average exercise price of US$1.00.  The exercise price is US$1.00 per option. The weighted average per option fair value of options granted during fiscal 2011 was US$0.81 and the weighted average remaining contractual life of those options at January 31, 2014 is 6¾ years. At January 31, 2014 there are 2,500,000 options exercisable.
		(ii)	In May 2011, the Company issued 750,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013. The exercise price of the options is US$1.00 and the latest exercise date for the options is February 1, 2018.
	The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.
	An external consultant has calculated the fair value of the 750,000 options using the Binomial valuation method using the following inputs:
	Grant date	1-May-11		1-May-11	1-May-11
	Grant date share price	$US1.30		$US1.30	$US1.30
	Vesting date	1-May-11		1-Feb-12	1-Feb-13
	Expected life in years	3.5		4	4.5
	Risk-free rate	2.02%		2.02%	2.02%
	Volatility	100%		100%	100%
	Exercise price	$US1.00		$US1.00	$US1.00
	Call option value	$US0.91		$US0.95	$US0.99
	At October 31, 2013 and January 31, 2014, there are 750,000 options outstanding with an option price per share and weighted average exercise price of US$1.00.  The exercise price is US$1.00 per option. The weighted average per option fair value of options granted during fiscal 2011 was US$0.95 and the weighted average remaining contractual life of those options at January 31, 2014 is 4 years. At January 31, 2014 there are 750,000 options exercisable.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	64 Months Ended
	Jan. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	-9	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company’s financial instruments consist of cash, receivables, accounts payable, accrued expenses and advances from affiliates. The carrying amounts of cash, receivables, accounts payables and accrued expenses approximates their fair values because of the short term maturities of those instruments. The fair value of advances from affiliates is not readily determinable as no similar market exists for these instruments and it doesn’t have a specified date of repayment.

EXPLORATION_STAGE_COMPANY

EXPLORATION STAGE COMPANY	64 Months Ended
	Jan. 31, 2014
EXPLORATION STAGE COMPANY	'
	-10	EXPLORATION STAGE COMPANY
	As a result of the Company’s focus on mineral exploration, it is considered an exploration stage company and accordingly reports operations, stockholders deficit and cash flows since inception through the date that revenues are generated from management’s intended operations. Since inception, the Company has incurred an operating loss of approximately $10.3 million. The Company’s working capital has been primarily generated through the sales of common stock as well as advances from an affiliated entity.

NET_LOSS_PER_SHARE

NET LOSS PER SHARE	64 Months Ended
	Jan. 31, 2014
NET LOSS PER SHARE	'
	-11	NET LOSS PER SHARE
	Basic income (loss) per share is computed by dividing net profit (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is similarly calculated using the treasury stock method except that the denominator is increased to reflect the potential dilution that would occur if dilutive securities at the end of the applicable period were exercised. Options to acquire 3,250,000 shares of common stock were not included in the diluted weighted average shares outstanding as such effects would be anti-dilutive.

CASH

CASH	64 Months Ended
	Jan. 31, 2014
CASH	'
	-12	CASH
	The Company maintains cash deposits with financial institutions in Australia and in Laos (USD).  Cash deposits maintained in Australian dollars are translated into US dollars at the period end exchange rate with the related adjustment recognized in statements of operations.

COMMITMENTS

COMMITMENTS	64 Months Ended
	Jan. 31, 2014
COMMITMENTS	'
	-13	COMMITMENTS
	Pursuant to the Century Thrust Joint Venture Agreement (Joint Venture), the Company may fund up to $6.50 million in exploration expenditure, of which $4.49 million has already been funded, in order to acquire a 51% beneficial interest in the Joint Venture. Should Aurum wish to execute its rights under the agreement, it may be required to expend an additional $2.01 million on the Century Thrust Concession (see note 1). All such exploration costs are being expensed as incurred.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	64 Months Ended
	Jan. 31, 2014
SUBSEQUENT EVENTS	'
	-14	SUBSEQUENT EVENTS
	The Company has evaluated significant events subsequent to the balance sheet date through the date the financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the financial statements, other than noted herein.

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	64 Months Ended
	Jan. 31, 2014
Schedule of property, plant and equipment	'
			At January 31, 2014							At October 31, 2013
		Depreciable	Cost		Accumulated			Net		Cost		Accumulated			Net
		Life	$		Depreciation			Book		$		Depreciation			Book
		(in years)			$			Value				$			Value
								$							$
	Office Equipment	2-Jan		3,830		(3,830	)		-		3,830		(3,830	)		-
	Computer Equipment	3-Jan		101,975		(101,975	)		-		101,975		(101,552	)		423
	Furniture	2-Jan		650		(650	)		-		650		(650	)		-
				106,455		(106,455	)		-		106,455		(106,032	)		423

INCOME_TAXES_Tables

INCOME TAXES (Tables)	64 Months Ended
	Jan. 31, 2014
Summary of deferred taxes	'
	The Company is required to file tax returns in the United States.
		USA			Total
		2013			2013
		$			$
	Deferred tax assets
	Net operating loss carry-forward		659,242			659,242
	Less valuation allowance		(659,242	)		(659,242	)
	Net deferred taxes		-			-

ISSUE_OF_OPTIONS_UNDER_EQUITY_1

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Tables)	64 Months Ended
	Jan. 31, 2014
Options Granted December 13, 2010 [Member]	'
Schedule of fair value assumptions used for stock options	'
	An external consultant has calculated the fair value of the 2,500,000 options using the Binomial valuation method using the following inputs:
	Grant date	13-Dec-10	13-Dec-10	13-Dec-10
	Grant date share price	US$1.10	US$1.10	US$1.10
	Vesting date	13-Dec-10	17-Nov-11	17-Nov-12
	Expected life in years	4.5	5	5.5
	Risk-free rate	1.91%	1.91%	1.91%
	Volatility	95%	95%	95%
	Exercise price	US$1.00	US$1.00	US$1.00
	Call option value	US$0.78	US$0.81	US$0.83
Options Granted May 2011 [Member]	'
Schedule of fair value assumptions used for stock options	'
	An external consultant has calculated the fair value of the 750,000 options using the Binomial valuation method using the following inputs:
	Grant date	1-May-11	1-May-11	1-May-11
	Grant date share price	$US1.30	$US1.30	$US1.30
	Vesting date	1-May-11	1-Feb-12	1-Feb-13
	Expected life in years	3.5	4	4.5
	Risk-free rate	2.02%	2.02%	2.02%
	Volatility	100%	100%	100%
	Exercise price	$US1.00	$US1.00	$US1.00
	Call option value	$US0.91	$US0.95	$US0.99

Organization_and_business_Deta

Organization and business (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Jan. 31, 2014	Dec. 31, 2010	Jan. 31, 2014	Jul. 31, 2009
	Century Concession in Laos [Member]	Century Concession in Laos [Member]	Golden Target Pty Ltd, Principal Stockholder [Member]	Golden Target Pty Ltd, Principal Stockholder [Member]
	Century Thrust Joint Venture Agreement [Member]	Century Thrust Joint Venture Agreement [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]	'	'	'	'
Percentage of entity owned	'	'	96.21%	'
Percentage of the entity acquired from certain stockholders	'	'	'	96.00%
Aggregate percentage owned by unrelated entity	'	70.00%	'	'
Potential percentage of investee earnings attributable to Aurum if specified funding is provided by Aurum	72.86%	'	'	'
Potential ownership percentage if funding is provided by Aurum	51.00%	'	'	'
Exploration expense funding commitment, maximum amount	$6.50	'	'	'
Specified period to meet funding requirements	'5 years	'	'	'
Expiration date of specified period to meet funding requirements	'2015-12	'	'	'

Property_and_equipment_Detail

Property and equipment (Detail) (USD $)

Jan. 31, 2014

Oct. 31, 2013

Jan. 31, 2014

Oct. 31, 2013

Jan. 31, 2014

Oct. 31, 2013

Jan. 31, 2014

Oct. 31, 2013

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Jan. 31, 2014

Office Equipment [Member]

Office Equipment [Member]

Computer Equipment [Member]

Computer Equipment [Member]

Furniture and Fixtures [Member]

Furniture and Fixtures [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Office Equipment [Member]

Computer Equipment [Member]

Furniture and Fixtures [Member]

Office Equipment [Member]

Computer Equipment [Member]

Furniture and Fixtures [Member]

Property, Plant and Equipment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciable Life (in years)

'

'

'

'

'

'

'

'

'1 year

'1 year

'1 year

'2 years

'3 years

'2 years

Cost

$106,455

$106,455

$3,830

$3,830

$101,975

$101,975

$650

$650

'

'

'

'

'

'

Accumulated Depreciation

-106,455

-106,032

-3,830

-3,830

-101,975

-101,552

-650

-650

'

'

'

'

'

'

Net Book Value

'

$423

'

'

'

$423

'

'

'

'

'

'

'

'

Property_and_equipment_Narrati

Property and equipment - Narrative (Detail) (USD $)	3 Months Ended		64 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014
Property, Plant and Equipment [Line Items]	'	'	'
Depreciation	$423	$8,590	$106,455

Affiliate_transactions_Detail

Affiliate transactions (Detail) (USD $)	3 Months Ended		64 Months Ended
	Jan. 31, 2014	Jan. 31, 2013	Jan. 31, 2014	Oct. 31, 2013
Related Party Transaction [Line Items]	'	'	'	'
Borrowings from affiliates	$92,405	$398,829	$8,038,653	'
Payable to affiliates	7,080,131	'	7,080,131	7,558,320
Manager of Laos Operations [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Payable to affiliates	232,500	'	232,500	'
AXIS Consultants Pty Ltd [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Direct costs of the entity that were paid by the management firm	92,405	'	'	'
Borrowings from affiliates	571,807	'	'	'
Payable to affiliates	$7,080,131	'	$7,080,131	$7,558,320

Going_Concern_Detail

Going Concern (Detail) (USD $)	Jan. 31, 2014
In Millions, unless otherwise specified
Going Concern [Line Items]	'
Deficit from inception	$10.30

Summary_of_Deferred_Taxes_Deta

Summary of Deferred Taxes (Detail) (USD $)	Jan. 31, 2014
Deferred tax assets	'
Net operating loss carry-forward	$659,242
Less valuation allowance	-659,242
Net deferred taxes	'
UNITED STATES	'
Deferred tax assets	'
Net operating loss carry-forward	659,242
Less valuation allowance	-659,242
Net deferred taxes	'

Income_Taxes_Detail

Income Taxes (Detail) (U.S. Internal Revenue Service [Member], USD $)	3 Months Ended
	Jan. 31, 2014
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards	1,938,900
Minimum [Member]	'
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards, expiration year	'2028
Maximum [Member]	'
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards, expiration year	'2033

Stockholders_equity_Detail

Stockholders equity (Detail) (USD $)	64 Months Ended	1 Months Ended		3 Months Ended	12 Months Ended	1 Months Ended
	Jan. 31, 2014	Oct. 31, 2009	Oct. 31, 2008	Jan. 31, 2014	Oct. 31, 2009	Mar. 31, 2009	Sep. 30, 2008
		Common Stock	Common Stock	Common Stock	Common Stock	Common Stock	Common Stock
						Public Offering [Member]	Founder [Member]
							Private Placement [Member]
Stockholders Equity Note [Line Items]	'	'	'	'	'	'	'
Shares issued	'	'	96,000,000	'	9,600,000	9,600,000	96,000,000
Proceeds from issuance of shares	$21,000	'	'	'	'	$12,000	$9,000
Stock split, number of shares issued for each share held	'	8	'	'	'	'	'
Stock split, distribution date	'	'	'	'October 2009	'	'	'

Recovered_Sheet1

Issue of options under equity incentive plan - Narrative (Detail) (2010 Equity Incentive Plan [Member], USD $)	1 Months Ended	3 Months Ended		1 Months Ended	3 Months Ended
	Dec. 31, 2010	Jan. 31, 2014	Oct. 31, 2013	31-May-11	Jan. 31, 2014	Oct. 31, 2013
	Options Granted December 13, 2010 [Member]	Options Granted December 13, 2010 [Member]	Options Granted December 13, 2010 [Member]	Options Granted May 2011 [Member]	Options Granted May 2011 [Member]	Options Granted May 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'
Options granted	2,500,000	'	'	750,000	'	'
Employee stock option vesting rights	'	'1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012.	'	'	'The options vested 1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013.	'
Stock options expiration date	'	17-Nov-20	'	'	1-Feb-18	'
Number of options, outstanding	'	2,500,000	2,500,000	'	750,000	750,000
Weighted average grant date fair value per option granted	'	$0.81	'	'	$0.95	'
Weighted average remaining contractual life	'	'6 years	'	'	'4 years	'
Options exercisable	'	'	2,500,000	'	750,000	'

Recovered_Sheet2

Issue of options under equity incentive plan - Fair value inputs (Detail) (2010 Equity Incentive Plan [Member], USD $)	3 Months Ended
	Jan. 31, 2014	1-May-11
Options Vested on December 13, 2010 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	13-Dec-10	'
Grant date share price	$1.10	'
Expected life in years	'4 years 6 months	'
Risk-free rate	1.91%	'
Volatility	95.00%	'
Exercise price	$1	'
Call option value	$0.78	'
Options Vested on November 17, 2011 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	13-Dec-10	'
Grant date share price	$1.10	'
Expected life in years	'5 years	'
Risk-free rate	1.91%	'
Volatility	95.00%	'
Exercise price	$1	'
Call option value	$0.81	'
Options Vesting on November 17, 2012 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	13-Dec-10	'
Grant date share price	$1.10	'
Expected life in years	'5 years 6 months	'
Risk-free rate	1.91%	'
Volatility	95.00%	'
Exercise price	$1	'
Call option value	$0.83	'
Options Vested on May 1, 2011 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	1-May-11	'
Grant date share price	'	$1.30
Expected life in years	'3 years 6 months	'
Risk-free rate	2.02%	'
Volatility	100.00%	'
Exercise price	$1	'
Call option value	$0.91	'
Options Vested on February 1, 2012 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	1-May-11	'
Grant date share price	'	$1.30
Expected life in years	'4 years	'
Risk-free rate	2.02%	'
Volatility	100.00%	'
Exercise price	$1	'
Call option value	$0.95	'
Options Vesting on February 1, 2013 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant date	1-May-11	'
Grant date share price	'	$1.30
Expected life in years	'4 years 6 months	'
Risk-free rate	2.02%	'
Volatility	100.00%	'
Exercise price	$1	'
Call option value	$0.99	'

Exploration_Stage_Company_Deta

Exploration Stage Company (Detail) (USD $)	1 Months Ended	3 Months Ended		12 Months Ended					64 Months Ended
	Oct. 31, 2008	Jan. 31, 2014	Jan. 31, 2013	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2011	Oct. 31, 2010	Oct. 31, 2009	Jan. 31, 2014
Operating loss since inception	($12)	$345,148	($529,668)	($1,289,689)	($3,531,780)	($4,777,291)	($981,396)	($89,397)	($10,324,417)

Net_loss_per_share_Detail

Net loss per share (Detail) (Employee Stock Option [Member])	3 Months Ended
	Jan. 31, 2014
Employee Stock Option [Member]	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'
Anti-dilutive stock options excluded from diluted weighted average shares outstanding	3,250,000

Commitments_Detail

Commitments (Detail) (Century Thrust Joint Venture Agreement [Member], USD $)	Jan. 31, 2014
In Millions, unless otherwise specified
Commitments Disclosure [Line Items]	'
Funding commitment, funded and expensed as incurred	$4.49
Century Concession in Laos [Member]	'
Commitments Disclosure [Line Items]	'
Funding commitment, unfunded amount	$2.01