Aurum Resources (ASX: AUE) has secured firm commitments for an AU$35.6 million private placement at AU$0.356 per share to advance its 2.5Moz gold assets in Cote d’Ivoire. The placement comprises AU$23.89 million in cash and AU$11.71 million in Montage Gold shares. Strategic participants include the Lundin Family (AU$11.71 million), Zhaojin Mining (AU$8.19 million), and Montage Gold (2.9 million shares), each set to hold 8.5–9.9% of Aurum post-placement. The funds will accelerate drilling, complete PFS and DFS studies for the Boundiali Gold Project, and support mining licence applications and ESIA approvals.
Settlement is expected by mid to late June 2025, pending shareholder approval. Aurum plans to expand its drill fleet, complete three JORC resource updates, and finalise key feasibility studies by mid-2026. Managing Director Dr. Caigen Wang emphasised that the capital raise strengthens Aurum’s financial position to over AU$45 million and validates the company’s exploration and development strategy.
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