Aurum Receives FirmCommitments for A$52.5 Million Placement to Accelerate
Aurum Resources Limited (ASX:AUE) (Aurum or the Company) is pleased to announce it has received firm commitments for a single-tranche institutional placement of approximately 95.45 million new fully paid ordinary shares (New Shares) at an issue price of A$0.55 per New Share (Offer Price) to raise gross proceeds of A$52.5 million (Placement or Offer).
Highlights
- Firm commitments received for A$52.5 million Placement at A$0.55 per New Share.
- Existing and new strategic investors subscribe for A$32.3 million of the Placement. The Placement was also strongly supported by new, high-quality domestic and global institutional investors.
- Proceeds from the Placement will fund early procurement of Boundiali long lead items, construction of a site access road, acquiring land for the plant and tailings storage facility, further exploration drilling, and working capital.
- Boundiali Mineral Resource Estimate update targeted early Q4 CY2026 (drilling cut-off end Sept 2026).
- Boundiali Definitive Feasibility Study (DFS) expected late CY2026.
- Following completion of the Placement, Aurum expects to have a cash balance of A$95 million.
Existing and new strategic investors have committed to subscribe for approximately A$32.3 million under the Placement. Following the Placement, these investors will hold approximately 25% of the Company’s shares on issue in aggregate.
Use of Proceeds
Proceeds from the Placement, together with existing cash, will be applied to:
- Early procurement of long lead items for the Boundiali processing plant;
- Construction of the Boundiali site access road;
- Acquisition of land for the processing plant and tailings storage facility;
- Exploration drilling; and
- Working capital and costs of the Offer.
Aurum Managing Director, Dr Caigen Wang, commented:
“This Placement allows us to begin early development works at Boundiali while we complete the DFS. It funds long lead procurement, the site access road, and land for the processing plant and tailings storage facility, so critical-path items can start now rather than after the study is finished. At the same time, our 16 diamond rigs continue drilling ahead of the Mineral Resource update in early Q4 CY2026, which will feed into the DFS due in late CY2026. We thank our strategic investors for their continued support and welcome the new shareholders who took part in the Placement.”
Placement Details
The Offer Price of A$0.55 per New Share represents a:
- 0.9% discount to the last closing price of A$0.555 on Friday, 18 September 2026; and
- 2.4% discount to the 10-day volume weighted average price of A$0.564 up to, and including, Friday 18 September 2026.
A total of 95,454,546 million New Shares will be issued under the Placement. 53,874,546 New Shares will be issued pursuant to the Company’s available placement capacity under ASX Listing Rule 7.1 and 41,580,000 New Shares will be issued pursuant to the Company’s additional 10% placement capacity under ASX Listing Rule 7.1A. The Placement is not subject to shareholder approval,…
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