- Montage Gold (TSXV:MAU) has closed its latest investment in Aurum Resources Ltd. (ASX:AUE), marking a significant step in its broader strategy to expand its footprint in West Africa’s gold sector
- Montage now holds a 9.9 per cent equity interest in Aurum
- Aurum plans to deploy the proceeds from the investment to accelerate exploration and development activities in Côte d’Ivoire
- Montage Gold stock (TSXV:MAU) last traded at C$4.71
Montage Gold (TSXV:MAU) has closed its latest investment in Aurum Resources Ltd. (ASX:AUE), marking a significant step in its broader strategy to expand its footprint in West Africa’s gold sector.
This content has been prepared as part of a partnership with Montage Gold Corp. and is intended for informational purposes only.
The investment was executed through a share exchange transaction, with Montage receiving 32,887,521 fully paid ordinary shares of Aurum at a deemed issue price of A$0.356 per share. In return, Aurum was issued 2,887,496 Montage common shares at a deemed price of C$3.61 per share. The Montage shares issued to Aurum are subject to a four-month hold period, expiring on November 15, 2025.
Following the transaction, Montage now holds a 9.9 per cent equity interest in Aurum. The company joins a group of strategic investors that includes the Lundin Family and their associates, as well as Zhaojin Mining Industry Company Ltd., which participated through its wholly owned subsidiary, Zhaojin Capital Limited.
Aurum plans to deploy the proceeds from the investment to accelerate exploration and development activities in Côte d’Ivoire. Key initiatives include resource definition drilling at the Boundiali gold project and exploration drilling at the Napié gold project. The funds will also support technical studies and permit applications as Aurum advances its project pipeline.
Montage, which is advancing its flagship Koné Gold Project in Côte d’Ivoire (pictured above), views this investment as a strategic alignment with its long-term vision of becoming a leading multi-asset African gold producer.
Montage Gold stock (TSXV:MAU) last traded at C$4.71 and has risen 166 per cent in the past year.
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