https://newsletter.mw.creamermedia.com
Exploration|Gold|PROJECT|Resources|Drilling
Exploration|Gold|PROJECT|Resources|Drilling
exploration|gold|project|resources|drilling

Aurum raises cash for West African gold hunt

6th February 2024

By: Creamer Media Reporter

     

Font size: - +

Exploration company Aurum Resources on Tuesday announced it would raise about A$7-million in an oversubscribed share placement, after receiving firm commitments from institutional and sophisticated investors.

In conjunction with the placement, the company will offer placement participants one unquoted option, exercisable at A$0.312 each, for every three shares subscribed.

The ASX-listed company will use the funds for field exploration programmes at its newly acquired Boundiali gold project in Côte d’Ivoire, and for general working capital.

“We are accelerating drilling on the project, located on the same greenstone belt as the 11-million-ounce Syama, five-million-ounce Tongon and 4.5-million-ounce Koné gold deposits, where we’ve already identified seven targets at the BM prospect and have commenced a 50-hole programme at the BD prospect, which sits on a 13 km gold corridor,” said new MD Caigen Wang.

The placement will be completed in two tranches, the first of which will consist of 15.47-million new fully paid ordinary shares at A$0.24 a share and the second which will comprise 13.69-milion shares at the same price.

The issue price of A$0.24-a-share represents a 9% discount to Aurum’s last trading price of A$0.265 and an 18% discount to the 15-day volume weighted average share price of A$0.293 a share.

Edited by Creamer Media Reporter

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.144s - 145pq - 2rq
Subscribe Now