AURUM RESOURCES LIMITED (AUE)
Share Price Analysis and Chart

12/06/2026

1

Speculative Buy

$1.50

191.26%

Aurum Resources has completed its pre-feasibility study (PFS) for its Boundiali Gold Project in Cote d'Ivoire. The study outlined a maiden Ore Reserve of 1.21Moz and average production of 185kozpa during the first five years, Bell Potter highlights.

The broker assesses strong project economics, including a post-tax NPV of around US$1.5bn, an internal rate of return of 119% and a payback period of less than one year. It's felt recent resource growth leaves scope for further improvements.

Management has commenced the definitive feasibility study (DFS), targeting completion in late 2026 and first production in early 2028.

Bell Potter retains a Speculative Buy rating and lifts its target to $1.50 from $1.30.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -4.30 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -4.20 cents.

18/06/2026

1

Speculative Buy

$1.80

249.51%

Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with its target price increased to $1.80 following a pre-feasibility study release for the Boundiali Gold Project in Cote d'Ivoire.

The underlying study details a large-scale, conventional open-pit operation featuring a front-end weighted production profile designed to deliver nearly 1Moz of gold during the initial five years of mine life.

The analyst notes this accelerated processing setup ensures strong early operating cash flows and rapid capital payback metrics, positioning the development among the top fifty largest gold mines in Africa.

Geologically, broad tenement strike extensions and an open regional system present substantial long-term exploration upside to supplement future mining inventories and smooth out later reserve depletion years, commentary suggests.

Preliminary asset modeling incorporates conservative operating unit adjustments and higher capital constraints relative to baseline study estimates to capture potential dilution parameters across primary sulphide ore blends.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -6.00 cents.