Aurum Resources has strengthened its position in Côte d’Ivoire’s gold sector after signing an agreement to acquire a stake in local partner Major Star Plus Sarl [MSP]. The deal gives Aurum 35% ownership of MSP’s share capital and the ability to earn up to 87% interest in three exploration permit applications, expanding landholdings around the company’s flagship Boundiali and Napié gold projects.

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Key highlights

• Aurum acquires 35% interest in Major Star Plus Sarl.
• Access to three advanced exploration permit applications covering more than 468 km²:
  • Application No. 0791 (114.53 km²) adjacent to Boundiali South.
  • Application No. 0793 (99.12 km²) west of Napié.
  • Application No. 0804 (254.97 km²) in central Côte d’Ivoire.
• Staged earn-in agreement allows Aurum to increase ownership up to:
  
  • 95% during exploration phase.
  • 85.5%–87% during mining phase, depending on MSP’s contribution to construction costs.
• The expansion supports Aurum’s 2.41Moz Boundiali and 0.87Moz Napié projects, raising the company’s overall footprint in West Africa’s gold-rich belts.

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Aurum’s managing director, Dr. Caigen Wang, said the partnership marked a strategic opportunity to build on the company’s growth in Côte d’Ivoire: “It is really a rare opportunity to have one partnership that can benefit both our Boundiali and Napié gold projects, but also provide an additional gold exploration project in central Côte d’Ivoire. The Aurum-MSP partnership is an example of the attractiveness of Aurum’s unique exploration and discovery capacity and track record from owning 10 diamond drill rigs and drilling teams with over 7 million oz of gold discovery in Côte d’Ivoire in the past 10 years.”