• Koulou Gold raised funds to expand and explore Ivorian projects
• Major investors boosted stakes, backing portfolio and future exploration
• Fundraising reflects rising mining investment in Côte d’Ivoire amid strong gold demand

Canadian junior miner Koulou Gold Corp. raised C$30 million ($21.8 million) on Tuesday to fund exploration on its gold projects in Côte d’Ivoire.

The private placement attracted several investors, including Endeavour Mining and Nioko Resources, both of which increased their stakes to about 19%. In addition to advancing existing projects, the company will use the funds for business development and working capital.

Koulou Gold has been expanding its portfolio in Côte d’Ivoire since 2024. In 2025, it added the Assuéfry permit to its Sakassou and Kouto projects. Early exploration has identified several promising targets, although no deposit has yet been defined. The company has not provided a timeline for upcoming work.

“This financing further validates the prospectivity of our portfolio, strength of our capital structure and team's execution,” CEO Alex Ruggieri said. “We are grateful to all shareholders for their support and excited to continue testing high priority targets with approximately C$39 million in the treasury.”

Côte d’Ivoire exploration momentum

The announcement comes as investment in mining exploration in Côte d’Ivoire continues to grow, particularly in gold. According to S&P Global Market Intelligence, the country ranked as Africa’s top exploration destination in 2025, attracting $186 million.

That momentum appears to be continuing into 2026, with several junior miners raising funds. In late March, Kobo Resources said it planned to raise more than C$5 million to advance its Kossou project and define an initial resource this year. Aurum Resources raised A$28.8 million for its Boundiali and Napié projects, while Thor Explorations has allocated up to $10 million to exploration in the country.

The trend reflects Côte d’Ivoire’s emergence as a leading mining jurisdiction. The government aims to double gold output by 2030, supported by an investment climate ranked the most attractive in West Africa by the Fraser Institute in 2025.

High gold prices are also driving investor interest. The key question now is whether companies like Koulou Gold can convert favorable conditions into concrete results, with upcoming exploration campaigns expected to provide early indications.

Aurel Sèdjro Houenou