Ashanti Capital is pleased to have acted as Joint Lead Manager to raise $7m for Aurum Resources (ASX: AUE).

The Placement was well supported by both Australian and offshore institutional investors as well as existing shareholders. New Managing Director, Dr. Caigen Wang, was the founding MD of Tietto Minerals (ASX: TIE) and led it from a ~A$39m capped explorer in 2018 to achieving first gold production in January 2023, making it West Africa’s newest gold producer with a ~A$690m market cap.

Proceeds will be used for an intensive 30,000m diamond drill program and preliminary metallurgical testing at the Boundiali Gold Project in Côte d’Ivoire.

Congratulations to Caigen, Mark Strizek, Troy Flannery and the Aurum Resources team on a successful raising.