Aurum Resources (ASX:AUE) has announced a financial milestone, securing firm commitments for a $28.8 million strategic placement to accelerate its gold exploration and development projects in Côte d’Ivoire.
The capital raise is headlined by a cornerstone investment from Perseus Mining (ASX:PRU), Australia’s largest African-focused gold producer.
Perseus has committed to subscribing for nearly 39.5 million shares at $0.60 per share, a move that will grant them a 9.9% stake in Aurum upon completion.
The partnership is particularly strategic given the geographic proximity of the two companies' assets.
Perseus operates the Sissingué Gold Mine, located just 60km north of Aurum’s flagship Boundiali Gold Project.
Managing Director Dr Caigen Wang noted that this proximity creates "genuine potential for strategic synergies" as both companies advance their respective interests within the Birimian greenstone belt.
Dr Wang himself intends to participate in the placement with a personal investment of $840,000, subject to shareholder approval in May.
With a bolstered cash balance exceeding $60 million, Aurum is now fully funded to execute an aggressive 130,000-metre drilling program for the remainder of 2026.
The technical campaign aims to rapidly expand resource inventory at Boundiali and Napié.
Furthermore, the company remains on track to deliver its pre-feasibility study in April, followed by a definitive feasibility study in the final quarter of the year.