Aurum wins key approvals for giant West African gold project

Aurum Resources has cleared a major hurdle on the road to becoming a gold producer in the West African nation of Côte d’Ivoire, after securing three environmental approval certificates for its 3.22 million-ounce Boundiali gold project.

The approvals cover all three of the company’s mining licence applications across its BST, BD and BM tenements. They are a mandatory precondition for the grant of mining licences under Ivorian law.

The Environmental and Social Impact Assessment (EIESA) certificates were issued on 20 May and mark a key de-risking step for the rapidly growing project.

The milestone follows a 12-month environmental and social impact assessment across nearly 573 square kilometres, including community consultation, a public inquiry and a technical committee review in Abidjan earlier this month.

‘With environmental approval now secured, we have removed a key regulatory hurdle.’

Aurum Resources managing director Dr Caigen Wang

Today’s approvals were revealed less than two weeks after Aurum upgraded Boundiali’s resource to 3.22 million ounces of gold, including a 24 per cent lift in indicated resources to 1.7 million ounces.

That resource uplift will feed directly into the project’s pre-feasibility study due this quarter, with a definitive feasibility study slated for the December quarter.

Boundiali has quickly developed into a substantial emerging gold project in West Africa, with Aurum building it from discovery to a 3.22 million-ounce resource in just 28 months.

Aurum says much of that rapid progress has been driven by its strategy of owning and operating its own diamond drill fleet, which has grown to 16 rigs and helped build its group resource base, including the nearby Napié gold project, to 4.38 million ounces.

Aurum Resources managing director Dr Caigen Wang said: “The granting of all three EIESA certificates is a transformational milestone for Boundiali. It is the result of 12 months of comprehensive environmental and social work across more than 572km² and demonstrates the strong support we have on the ground from the Ivorian Government, regulators and host communities. With environmental approval now secured, we have removed a key regulatory hurdle on our pathway from a 3.22 Moz Mineral Resource to a developer and ultimately a gold producer.”

Aurum says it remains well-funded to keep pressing ahead, with $61M in cash at the end of March and drilling continuing day and night at Boundiali to expand the resource base and lift confidence levels.

With studies advancing, drilling ongoing and the mining licence grant process moving ahead, Aurum looks to be lining up the next pieces for Boundiali’s push towards development and, potentially, its transition into a significant new West African gold project.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au