AURUM RESOURCES LIMITED (AUE)
Share Price Analysis and Chart

29/05/2026

1

Initiation of coverage with Speculative Buy

$1.30

126.09%

Bell Potter initiates coverage on Aurum Resources with a Speculative Buy rating and $1.30 target, citing strong exploration success in Cote d'Ivoire.

The report highlights Aurum's 4.38Moz combined resource base across the Boundiali and Napie gold projects.

Bell Potter also notes management's strong ownership alignment and cost advantages from operating an in-house drilling fleet.

The broker believes recent resource growth was achieved at a competitive discovery cost of around $15-$17 per ounce.

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.

28/05/2026

1

Speculative Buy

$1.55

169.57%

Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with a $1.55 target price following the receipt of major environmental approvals for the Boundiali gold project in Cote d'Ivoire.

Commentary suggests the issuance of three assessment certificates across the mining licence application areas represents a key de-risking milestone and clears the pathway for final regulatory review.

A recent 24% upgrade to indicated resources at the asset to 1.70Moz of contained gold is expected to underpin a pre-feasibility study slated for release this quarter.

The broker estimates the deposit could support an operation delivering 160,000 to 175,000 ounces annually over a ten-year mine life at an all-in sustaining cost around US$1,600/oz.

Aggressive resource growth drilling continues with 16 company-owned diamond rigs operating on site, supported by a $61m cash balance at the end of March 2026.