• Aurum plans to raise about $20 million to fund its Boundiali gold project
• Perseus Mining will anchor the deal with a 9.9% stake
• Funds will support studies, permits, and drilling ahead of construction

Australian mining company Aurum Resources plans to raise 28.8 million Australian dollars, or about $20 million, through a share placement to support the development of its Boundiali gold project in Côte d’Ivoire.

The company said on March 23 that the transaction will be backed by Perseus Mining, operator of the Sissingué and Yaouré gold mines, which plans to take a 9.9% stake in Aurum. Existing investors are also expected to participate, with the deal set to close by March 31.

The funding is expected to lift Aurum’s cash position to about 60 million Australian dollars and support ongoing work at Boundiali.

The company plans to launch construction of the mine later this year. The project currently hosts 3.03 million ounces of gold resources.

Before moving forward, Aurum aims to complete several key steps, including a pre-feasibility study due in April and securing mining permits. The study will provide initial economic indicators ahead of a full feasibility assessment.

Exploration work will continue alongside development, with a 100,000-meter drilling program planned at the site.

With gold prices rising in recent months, Aurum is looking to strengthen the project’s long-term potential and accelerate its transition into production. The effort is supported by established industry players such as Perseus Mining and Montage Gold, which has been a shareholder since 2025 through its Koné project.

Part of the funds raised will also go toward exploration at the Napié project, where Aurum plans a 30,000-meter drilling campaign.

Aurel Sèdjro Houenou