AURUM RESOURCES LIMITED (AUE)
Share Price Analysis and Chart

06/10/2026

1

Speculative Buy

$1.45

233.33%

Aurum Resources has raised $52.5m via a placement of 94.5m new shares at 55c with cash post completion flagged at around $95m, Bell Potter observes.

The analyst views Aurum as one of the most successful gold explorers in West Africa and notes Shandong Gold, a top ten global mining company, has joined the share register.

Around 25% of shareholder equity is now held by strategic investors, the broker points out. The explorer has also continued to receive assay results from its ongoing drill-out at Boundiali which supports the view for a potential structurally higher-grade zone.

Target price slips to $1.45 from $1.50. Speculative Buy rating unchanged.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -4.80 cents.
Bell Potter forecasts a full year FY28 dividend of 0.00 cents and EPS of 7.20 cents.

22/10/2026

1

Speculative Buy

$1.50

244.83%

Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with its target price at $1.50 following final drilling assays from its 3.22Moz Boundiali Gold Project in Cote d'Ivoire ahead of an upcoming resource update.

Assays from 25 diamond drill holes spanning 5,651m across the BST1, BMT2, and BMT3 deposits yielded significant high-grade intersections, including 28.35m at 2.02g/t Au from 116.45m at BMT2 where no resource is currently defined.

Additional high-grade hits outside existing resource shells included 57.0m at 2.3g/t Au at BST1 and 10.0m at 2.7g/t Au at BMT3, supporting resource conversion and expansion ahead of the end-October 2026 update.

Project development remains focused on delivering a Definitive Feasibility Study in late-2026, with mining licence approvals positioned as the primary remaining permitting milestone before targeting first gold in the first half of 2028.

The analyst values the development scenario using a -10% discount rate and 1x forward curve assumptions, applying a 60% risk factor under a 50:50 debt and equity funding structure.