Aurum 10-Q 26 Sep 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jul. 31, 2014	Sep. 12, 2014
Document And Entity Information [Abstract]	'	'
Entity Registrant Name	'AURUM, INC.	'
Entity Central Index Key	'0001450708	'
Trading Symbol	'AURM	'
Current Fiscal Year End Date	'--10-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock Shares Outstanding	'	105,600,000
Document Type	'10-Q	'
Document Period End Date	31-Jul-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Balance_Sheet

Balance Sheet (USD $)	Jul. 31, 2014	Oct. 31, 2013
Current Assets:	'	'
Cash	$2,258	$12,797
Receivables	19,624	19,696
Prepayments	3,149	8,744
Total Current Assets	25,031	41,237
Non-Current Assets:	'	'
Property and equipment	'	423
Total Non-Current Assets	'	423
Total Assets	25,031	41,660
Current Liabilities:	'	'
Accounts payable and accrued expenses	634,013	402,738
Total Current Liabilities	634,013	402,738
Non-Current Liabilities:	'	'
Advances from affiliates	7,707,480	7,558,320
Total Non-Current Liabilities	7,707,480	7,558,320
Total Liabilities	8,341,493	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 July 31, 2014 and October 31, 2013	10,560	10,560
Additional Paid-in-Capital	2,740,207	2,740,207
Accumulated (deficit)	-11,067,229	-10,670,165
Total Stockholders' Equity (Deficit)	-8,316,462	-7,919,398
Total Liabilities and Stockholders' Equity (Deficit)	$25,031	$41,660

Balance_Sheet_Parenthetical

Balance Sheet (Parenthetical) (USD $)	Jul. 31, 2014	Oct. 31, 2013
Statement Of Financial Position [Abstract]	'	'
Common stock, par value (in dollar per shares)	$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_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2014	Jul. 31, 2013
Income Statement [Abstract]	'	'	'	'
Revenues	'	'	'	'
Costs and expenses:	'	'	'	'
Legal, accounting and professional	12,924	31,475	33,045	56,740
Administration expenses	17,092	70,793	111,164	207,653
Consultants salaries - stock based compensation	'	'	'	76,538
Exploration expenditure	104,226	399,160	346,036	1,158,144
Interest expense	'	'	'	1,215
Total costs and expenses	134,242	501,428	490,245	1,500,290
(Loss) from operations	-134,242	-501,428	-490,245	-1,500,290
Foreign currency exchange gain (loss)	-79,173	870,779	93,181	894,028
Income (Loss) before income taxes	-213,415	369,351	-397,064	-606,262
Provision for income taxes	'	'	'	'
Net income (loss)	($213,415)	$369,351	($397,064)	($606,262)
Basic and diluted net income (loss) per common equivalent shares (in dollar per shares)	$0	$0	$0	($0.01)
Weighted average number of common equivalent shares (in 000's) (in shares)	105,600	105,600	105,600	105,600

Statements_of_Stockholders_Equ

Statements of Stockholders' Equity (Unaudited) (Deficit) (USD $)	Common Stock	Additional Paid-in Capital	Accumulated (Deficit)	Total
Beginning Balance at Oct. 31, 2013	$10,560	$2,740,207	($10,670,165)	($7,919,398)
Beginning Balance (in shares) at Oct. 31, 2013	105,600,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'
Net (loss)	'	'	-397,064	-397,064
Ending Balance at Jul. 31, 2014	$10,560	$2,740,207	($11,067,229)	($8,316,462)
Ending Balance (in shares) at Jul. 31, 2014	105,600,000	'	'	'

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net (loss)	($397,064)	($606,262)
Adjustments to reconcile net (loss) to net cash (used) in operating activities:	'	'
Employee options issued for stock based compensation	'	76,538
Foreign currency exchange (gain)	-93,181	-894,028
Depreciation	423	24,938
Net change in:	'	'
Prepayments	5,595	19,535
Receivables	72	-4,993
Accounts payable and accrued expenses	231,275	187,015
Net Cash (Used) in Operating Activities	-252,880	-1,197,257
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Advances from affiliates	241,650	1,190,586
Net Cash Provided by Financing Activities	241,650	1,190,586
Effect of exchange rate on cash	691	-3,809
Net (decrease) in cash	-10,539	-10,480
Cash at beginning of period	12,797	18,721
Cash at end of period	$2,258	$8,241

ORGANIZATION_AND_BUSINESS

ORGANIZATION AND BUSINESS	9 Months Ended
	Jul. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
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 July 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 gives the Company 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 10, 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	9 Months Ended
	Jul. 31, 2014
Accounting Changes And Error Corrections [Abstract]	'
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.
	In June 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The Company adopted the amendment to (Topic 915) Development Stage Entities, for the elimination of certain disclosures currently required under US GAAP in the financial statements for development stage entities. The amendment removes the definition of a development stage entity, thereby removing the financial reporting distinction between the development stage entities and reporting entities from US GAAP. The Company has eliminated the inception-to-date information in the statements of operations, cash flows, and stockholders’ equity (deficit). The financial statements are no longer labelled as an exploration or development stage entity, and no disclosure is required for a description of the development stage activities the entity is engaged or when they are no longer a development stage entity. This update also eliminates an exception provided to development stage entities in FASC Topic 810, Consolidation, for determining whether an entity is a Variable Interest Entity (VIE) based on the amount of equity at risk.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Jul. 31, 2014
Property Plant And Equipment [Abstract]	'
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 July 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 nine months ended July 31, 2014 amounted to $423 and for the nine months ended July 31, 2013 amounted to $24,938. At July 31, 2014 the Company’s property and equipment is fully depreciated.

AFFILIATE_TRANSACTIONS

AFFILIATE TRANSACTIONS	9 Months Ended
	Jul. 31, 2014
Related Party Transactions [Abstract]	'
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 nine months ended nine July 31, 2014, AXIS provided services in accordance with the services agreement, incurred direct costs on behalf of the Company and provided funding of $241,650. During the nine months ended July 31, 2014, the foreign exchange effect on the amounts owed to affiliates was a gain of $93,181. The amounts owed to affiliates as of July 31, 2014 and October 31, 2013 is $7,707,480 and $7,558,320, respectively, and are reflected in non-current liabilities - advances from affiliates. Included in these amounts is $232,500 respectively being funds advanced by the Manager of the Laos operations. During the nine months ended July 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 sheet.

GOING_CONCERN

GOING CONCERN	9 Months Ended
	Jul. 31, 2014
Liquidity [Abstract]	'
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 Company. Based on discussions with these affiliate companies, the Company believes this source of funding will continue to be available. Other than the arrangements noted above, the Company has not confirmed any other arrangement for ongoing funding. As a result the Company may be required to raise funds by additional debt or equity offerings in order to meet its cash flow requirements during the forthcoming year. However, there can be no assurance that the Company’s fund raising efforts will be successful.
	As set out in Notes to Financial Statements – Affiliate Transactions, the Company is managed by AXIS.  Certain costs and expenses are incurred by the Company and certain costs and expenses are incurred by AXIS on behalf of the Company and billed to the Company by AXIS.  The total amount of expenses billed to the Company by AXIS for the nine months ended July 31, 2014 was $241,650 (2013: $1,190,586).
	The retained deficit of the Company at July 31, 2014 amounted to approximately $11.1 million.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Jul. 31, 2014
Income Tax Disclosure [Abstract]	'
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 de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of July 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 and a summary of the deferred tax asset at October 31, 2013 is as follows:.
			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 as of October 31, 2013, 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	9 Months Ended
	Jul. 31, 2014
Equity [Abstract]	'
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	9 Months Ended
	Jul. 31, 2014
Disclosure Of Compensation Related Costs Share based Payments [Abstract]	'
ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN	'
	-8	ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN
	(i)		Effective December 13, 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 July 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 July 31, 2014 is 61/4 years. At July 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	US$1.30	US$1.30	US$1.30
	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	US$1.00	US$1.00	US$1.00
	Call option value	US$0.91	US$0.95	US$0.99
	At October 31, 2013 and July 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 July 31, 2014 is 31/2 years. At July 31, 2014 there are 750,000 options exercisable.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Jul. 31, 2014
Fair Value Disclosures [Abstract]	'
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 the advances from affiliate is not determinable as it is due to an affiliated entity, no market exists for similar instruments and settlement date is uncertain.

NET_LOSS_PER_SHARE

NET LOSS PER SHARE	9 Months Ended
	Jul. 31, 2014
Earnings Per Share [Abstract]	'
NET LOSS PER SHARE	'
	-10	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	9 Months Ended
	Jul. 31, 2014
Cash And Cash Equivalents [Abstract]	'
CASH	'
	-11	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	9 Months Ended
	Jul. 31, 2014
Commitments And Contingencies Disclosure [Abstract]	'
COMMITMENTS	'
	-12	COMMITMENTS
	Pursuant to the Century Thrust Joint Venture Agreement (Joint Venture), the Company may fund up to $6.5 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 through December 2015 on the Century Thrust Concession (see note 1). All such exploration costs are being expensed as incurred.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Jul. 31, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	-13	SUBSEQUENT EVENTS
	The Company has evaluated events and transactions after the balance sheet date and through the date the financial statements were issued, and believes that all relevant disclosures have been included herein and there are no other events which require recognition or disclosure in the accompanying interim financial statements.

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Jul. 31, 2014
Property Plant And Equipment [Abstract]	'
Schedule of property, plant and equipment	'
			At July 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)	9 Months Ended
	Jul. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of deferred tax asset	'
		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)	9 Months Ended
	Jul. 31, 2014
Options Granted December 13, 2010	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Schedule of fair value assumptions used for stock options	'
	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	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Schedule of fair value assumptions used for stock options	'
	Grant date	1-May-11	1-May-11	1-May-11
	Grant date share price	US$1.30	US$1.30	US$1.30
	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	US$1.00	US$1.00	US$1.00
	Call option value	US$0.91	US$0.95	US$0.99

ORGANIZATION_AND_BUSINESS_Deta

ORGANIZATION AND BUSINESS (Detail Textuals) (USD $)	9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jul. 31, 2014	Dec. 31, 2010	Jul. 31, 2014	Jul. 31, 2009
	Century Thrust Joint Venture Agreement	Century Concession in Laos	Golden Target Pty Ltd, Principal Stockholder	Golden Target Pty Ltd, Principal Stockholder
		Century Thrust Joint Venture Agreement
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%	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	'	'December 10, 2015	'	'

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)

Jul. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Jul. 31, 2014

Jul. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Jul. 31, 2014

Jul. 31, 2014

Oct. 31, 2013

Jul. 31, 2014

Jul. 31, 2014

Office Equipment

Office Equipment

Office Equipment

Office Equipment

Computer Equipment

Computer Equipment

Computer Equipment

Computer Equipment

Furniture

Furniture

Furniture

Furniture

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Property, Plant and Equipment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciable Life (in years)

'

'

'

'

'1 year

'2 years

'

'

'1 year

'3 years

'

'

'1 year

'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_Detail_

PROPERTY AND EQUIPMENT (Detail Textuals) (USD $)	9 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Property Plant And Equipment [Abstract]	'	'
Depreciation	$423	$24,938

AFFILIATE_TRANSACTIONS_Detail_

AFFILIATE TRANSACTIONS (Detail Textuals) (USD $)	9 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Oct. 31, 2013
Related Party Transaction [Line Items]	'	'	'
Direct costs of the entity that were paid by the management firm	$241,650	$1,190,586	'
Payable to affiliates	7,707,480	'	7,558,320
AXIS Consultants Pty Ltd	'	'	'
Related Party Transaction [Line Items]	'	'	'
Direct costs of the entity that were paid by the management firm	241,650	'	'
Borrowings from affiliates	93,181	'	'
Payable to affiliates	7,707,480	'	7,558,320
Manager of Laos Operations	'	'	'
Related Party Transaction [Line Items]	'	'	'
Payable to affiliates	$232,500	'	'

GOING_CONCERN_Detail_Textuals

GOING CONCERN (Detail Textuals) (USD $)	9 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Oct. 31, 2013
Liquidity [Abstract]	'	'	'
Retained deficit	($11,067,229)	'	($10,670,165)
Direct costs of the entity that were paid by the management firm	$241,650	$1,190,586	'

INCOME_TAXES_Detail

INCOME TAXES (Detail) (USD $)	Oct. 31, 2013
Deferred tax assets	'
Net operating loss carry-forward	$659,242
Less valuation allowance	-659,242
Net deferred taxes	'
USA	'
Deferred tax assets	'
Net operating loss carry-forward	659,242
Less valuation allowance	-659,242
Net deferred taxes	'

INCOME_TAXES_Detail_Textuals

INCOME TAXES (Detail Textuals) (U.S. Internal Revenue Service, USD $)	12 Months Ended
	Oct. 31, 2013
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards	1,938,900
Minimum	'
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards, expiration year	'2028
Maximum	'
Operating Loss Carryforwards [Line Items]	'
Operating loss carryforwards, expiration year	'2033

STOCKHOLDERS_EQUITY_Detail_Tex

STOCKHOLDERS' EQUITY (Detail Textuals) (Common Stock, USD $)	1 Months Ended	9 Months Ended	1 Months Ended
	Sep. 29, 2009	Jul. 31, 2014	Mar. 31, 2009	Sep. 30, 2008
			Public Offering	Founder
				Private Placement
Stockholders Equity Note [Line Items]	'	'	'	'
Stock issued during period (in shares)	'	'	9,600,000	96,000,000
Value of shares issued during period	'	'	$12,000	$9,000
Stock split, number of shares issued for each share held	8	'	'	'
Stock split, distribution date	'	'October 23, 2009	'	'

ISSUE_OF_OPTIONS_UNDER_EQUITY_2

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Detail) (2010 Equity Incentive Plan, USD $)	9 Months Ended
	Jul. 31, 2014
Options Vested on December 13, 2010	'
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	'
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	'
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	'
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	'
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	'
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

ISSUE_OF_OPTIONS_UNDER_EQUITY_3

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Detail Textuals) (2010 Equity Incentive Plan, USD $)	1 Months Ended	9 Months Ended	12 Months Ended		0 Months Ended	9 Months Ended	12 Months Ended
	31-May-11	Jul. 31, 2014	Oct. 31, 2013	Oct. 31, 2011	Dec. 13, 2010	Jul. 31, 2014	Oct. 31, 2013	Oct. 31, 2011
	Options Granted May 2011	Options Granted May 2011	Options Granted May 2011	Options Granted May 2011	Options Granted December 13, 2010	Options Granted December 13, 2010	Options Granted December 13, 2010	Options Granted December 13, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'
Options granted	750,000	'	'	'	2,500,000	'	'	'
Employee stock option vesting rights	'	'1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013.	'	'	'	'1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012.	'	'
Stock options expiration date	'	1-Feb-18	'	'	'	17-Nov-20	'	'
Number of options, outstanding	'	750,000	750,000	'	'	2,500,000	2,500,000	'
Weighted average exercise price of options outstanding	'	$1	$1	'	'	$1	$1	'
Exercise price	'	$1	$1	'	'	$1	$1	'
Weighted average grant date fair value per option granted	'	'	'	$0.95	'	'	'	$0.81
Weighted average remaining contractual life	'	'3 years 6 months	'	'	'	'6 years 3 months	'	'
Options exercisable	'	750,000	'	'	'	2,500,000	'	'

NET_LOSS_PER_SHARE_Detail_Text

NET LOSS PER SHARE (Detail Textuals) (Employee Stock Option)	9 Months Ended
	Jul. 31, 2014
Employee Stock Option	'
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_Textuals

COMMITMENTS (Detail Textuals) (Century Thrust Joint Venture Agreement, USD $)	9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jul. 31, 2014	Dec. 31, 2010	Jul. 31, 2014
		Century Concession in Laos	Century Concession in Laos
Commitments Disclosure [Line Items]	'	'	'
Funding commitment, authorised amount	$6.50	'	'
Funding commitment, funded and expensed as incurred	4.49	'	'
Beneficial interest	51.00%	51.00%	'
Funding commitment, unfunded amount	'	'	$2.01