Aurum Resources raises $52.5M for project

• Aurum Resources secured $52.5 million in firm commitments through a single-tranche institutional placement to fund its Boundiali Project.
• The placement was completed at an issue price of $0.55 per share, bringing the company’s expected total cash balance to $95 million.
• Capital raised will accelerate early development, site access construction, land acquisition, and ongoing exploration drilling.

Aurum Resources (ASX:AUE) has secured $52.5 million in firm commitments via a single-tranche institutional placement of roughly 95.5 million new shares to fund development at its Boundiali Gold Project.

The issue price of $0.55 per share represents a single-tranche structure, with existing and new strategic investors contributing $32.3 million of the total raise.

"This placement allows us to begin early development works at Boundiali while we complete the DFS," said Aurum Managing Director Dr Caigen Wang.

The new capital will cover early procurement of long lead items, construction of a site access road, land acquisition for the plant and tailings storage facility, and ongoing exploration drilling.

Following the capital raise, the company expects to hold a total cash balance of $95 million.

Following the announcement, the Aurum Resources share price was down at $0.55.

The company currently operates 16 diamond drilling rigs on site and plans to deliver an updated Mineral Resource Estimate for Boundiali in early Q4 2026.

Aurum plans to use data from the drilling update to finalise its definitive feasibility study for the Boundiali Project in late 2026.