Aurum Resources Secures $28.8M, Partners with Perseus Mining

0:00It's March 23rd. You're listening to Sydney News today, AI-powered local news. RM Resources has raised $28.8 million through a placement of 48 million shares priced at $0.60 each. The standout investor is Perseus Mining, Africa's major goal producer, which committed $23.69 million for a 9.9% stake. These two companies operate as neighbors in northern Cold D'Avoire, where Perseus' Sissing Way Mine lies just 60 kilometers north of Orm's Key, Boundy Olly Project, all within the same Gold-rich Greenstone Belt. Orm's managing director, Dr. Kagan Wong, showed strong confidence by subscribing for 1.4 million shares worth 840,000 dollars, pending shareholder approval in May. This endorsement highlights the strategic fit and potential synergies between the firms. The cash influx leaves Orm with more than $60 million on hand to fuel a 130,000-meter

1:00drilling push this year, split. Between Boundy Olly and the NAPIA Project, they're also targeting a pre-feasibility study for Boundy Olly this April and a definitive one by December. Recent upgrades boosted Boundy Olly's resource to 3.03 million ounces of gold, while fresh high-grade hits at NAPIA build excitement, ahead of its resource update this quarter. With solid funding and a powerhouse partner, Orm stands ready to advance from exploration into full development.