Australian gold developer Aurum Resources has secured $37.2 million to fast-track early development work at its 3.22-million-ounce Boundiali Gold Project in northern Côte d’Ivoire.
The placement will issue 95.45 million new shares at $0.39 each, with strategic investors contributing $22.9 million and expected to hold about 25% of Aurum after completion.
The funds will go towards early procurement for the processing plant, construction of the site access road, land for the processing plant and tailings facility, exploration drilling and working capital. Aurum expects to have about $67.3 million in cash following the raise.
The company is also advancing 16 diamond rigs across the Boundiali project, targeting an updated mineral resource estimate early in the December quarter. This will feed into a Definitive Feasibility Study expected later in 2026.
The project currently has a maiden ore reserve of 1.21 million ounces.
Côte d’Ivoire’s Gold Sector
Gold has become an increasingly important part of Côte d’Ivoire’s economy.
IMF data show that the value of non-monetary gold exports rose from about $2.45 billion (2.9% of GDP) in 2023 to $3.31 billion (3.6%) in 2024 and $5.29 billion (5.3%) in 2025.
These figures represent gold export value as a share of GDP, rather than gold’s direct value-added contribution to GDP.
Gold production also climbed from 52 tonnes in 2023 to 58 tonnes in 2024, according to the U.S. Geological Survey.