Announcement • Mar 23
Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 29.64 million. Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 29.64 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,000,000
Price\Range: AUD 0.6
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,400,000
Price\Range: AUD 0.6
Transaction Features: Subsequent Direct Listing New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 54% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 54% per year for the foreseeable future. High level of non-cash earnings (68% accrual ratio). Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Recent Insider Transactions Derivative • Feb 24
Key Executive exercised options to buy AU$1.4m worth of stock. On the 24th of February, Caigen Wang exercised options to buy 2m shares at a strike price of around AU$0.72, costing a total of AU$1.4m. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since March 2025, Caigen's direct individual holding has increased from 9.56m shares to 12.86m. Company insiders have collectively bought AU$5.3m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 17
Aurum Resources Limited Announces Appointment of Richard Simpson as Non-Executive Chairman and Board Changes, Effective February 2, 2026 Aurum Resources Limited has appointed Mr. Richard Simpson as Non-Executive Chairman of the Company, commencing on February 2, 2026. Mr. Troy Flannery will transition from his current role as Chairman to continue as a Non-Executive Director of the Company, effective the same date. Mr. Simpson brings to the Board over 40 years of experience across mergers and acquisitions, capital markets, corporate advisory and executive management, gained through senior roles with Australian and international investment banks and a number of non-executive directorships for state government agencies and industry bodies. He is currently a Non-Executive Director of Euroz Hartleys Limited and a founding board member of the Western Australian Parks Foundation. Selected previous directorships include: Euroz Hartleys Limited – Executive Director (2020–2024), Hartleys Limited – Director, Managing Director and/or Executive Chairman (2003–2020), Botanic Gardens & Parks Authority – Chairman (2002–2022), State Emergency Management Committee – Member (2015–2018). Mr. Simpson commenced his career as a petroleum engineer, before joining the Natural Resources team at NM Rothschild & Sons in London, and later Salomon Brothers Inc. in Sydney and Melbourne. He returned to Perth in 1994 to join Hartleys’ corporate finance team, advising numerous mining, oil and gas, and infrastructure clients. He led the management buy-out of Hartleys Limited from ASX-listed HP JDV Limited in 2003 and the subsequent merger with ASX-listed Euroz Limited in 2020. Mr. Simpson holds a Bachelor of Applied Science (Honours) from Curtin University, a Master of Business Administration from the University of Western Australia and is a Member of the Australian Institute of Company Directors. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (125% increase in shares outstanding). Revenue is less than US$1m (AU$234k revenue, or US$155k). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Significant insider selling over the past 3 months (AU$163k sold). Announcement • Sep 13
Aurum Resources Limited, Annual General Meeting, Nov 14, 2025 Aurum Resources Limited, Annual General Meeting, Nov 14, 2025. Recent Insider Transactions • Aug 28
Executive Director recently bought AU$163k worth of stock On the 27th of August, Mark Strizek Browne bought around 300k shares on-market at roughly AU$0.54 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Recent Insider Transactions Derivative • Aug 15
Key Executive exercised options to buy AU$1.7m worth of stock. On the 14th of August, Caigen Wang exercised options to buy 3m shares at a strike price of around AU$0.50, costing a total of AU$1.5m. This transaction amounted to 31% of their direct individual holding at the time of the trade. Since September 2024, Caigen has owned 9.56m shares directly. Company insiders have collectively bought AU$2.2m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jul 15
Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 23.892043 million. Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 23.892043 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 67,112,479
Price\Range: AUD 0.356
Transaction Features: Subsequent Direct Listing Announcement • May 07
Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 23.892043 million. Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 23.892043 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 67,112,479
Price\Range: AUD 0.356
Transaction Features: Subsequent Direct Listing Announcement • Apr 08
Aurum Resources Limited (ASX:AUE) acquired Boundiali South exploration tenement (PR-414) from Turaco Gold Limited (ASX:TCG) and Predictive Discovery Limited (ASX:PDI) Aurum Resources Limited (ASX:AUE) entered into binding term sheet to acquire Boundiali South exploration tenement (PR-414) from Turaco Gold Limited (ASX:TCG) and Predictive Discovery Limited (ASX:PDI) for AUD 1.64 million on March 19, 2024. Within 15 business days of the satisfaction (or waiver) of the conditions precedent above, the Seller will, by written notice to the Purchaser, elect to receive one of the following forms of consideration (Election). (i) AUD 0.8 million in cash (Cash Consideration) or (ii) If the 20-day volume weighted average trading price of Shares (VWAP) is Less than or equal to AUD 0.20 at the time of the Election, 5 million fully paid ordinary shares in the Purchaser (Shares) (Consideration Shares 1) or Greater than AUD 0.20 at the time of the Election, Shares to a value of AUD1.2 million, as determined by dividing AUD1.2 million by the 20-day VWAP for the Shares (Consideration Shares 2). Purchase of the tenement is subject to Aurum obtaining a renewal of the BST tenement (or the granOng of a replacement) and being satisfied that the terms of the renewal (or replacement permit) do not restrict exploration or potential future mining rights, along with required Government approvals.
Aurum Resources Limited (ASX:AUE) completed acquisition of Boundiali South exploration tenement (PR-414) from Turaco Gold Limited (ASX:TCG) and Predictive Discovery Limited (ASX:PDI) on April 8, 2025. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (185% increase in shares outstanding). Revenue is less than US$1m (AU$234k revenue, or US$141k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$72.6m market cap, or US$43.7m). New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (185% increase in shares outstanding). Revenue is less than US$1m (AU$234k revenue, or US$148k). Minor Risk Market cap is less than US$100m (AU$75.9m market cap, or US$48.0m). Announcement • Dec 06
Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,571,429
Price\Range: AUD 0.35
Discount Per Security: AUD 0.021
Transaction Features: Subsequent Direct Listing Announcement • Nov 28
Aurum Resources Limited Appoints Steve Zaninovich as Non-Executive Director, Effective 1 December 2024 Aurum Resources Limited announced the appointment of Steve Zaninovich as a Non-Executive Director, effective 1 December 2024. Steve is a highly qualified engineer with more than 25 years' experience in mining project development, business development, maintenance and operational readiness in the mining sector, predominantly in gold, base metals and lithium industries. He is currently Director of Operations for Kodal Minerals plc, responsible for the delivery of the Bougouni Lithium Project. Prior to that, Steve was Project Director of Tawana Resources, responsible for the delivery of the Bald Hill Lithium Project, and Project Director for Lycopodium Minerals at the Akyem Gold Project in Ghana. Steve served as Chief Operating Officer with Gryphon Minerals ('Gryphon') before assuming the role of Vice President of Major Projects, and becoming part of the Executive Management Team, at Teranga Gold Corporation ('Teranga') following its acquisition of Gryphon. Steve has gained specific expertise in the development of multiple mining operations across various commodities and jurisdictons in West Africa, including Ghana, Burkina Faso, Cote d'Ivoire, Senegal and Mali. He has also undertaken consultant project management roles for companies including BHP Billiton, Newmont Mining, Atlantic Lithium, and Gold Fields Ghana. Steve's responsibilities during previous senior executive roles have included operational management of mining companies, business development and strategic planning, feasibility studies and project development, site exploration operations. Steve is currently a Non-Executive Director of Mako Gold Ltd, Bellavista Resources and Sarama Resources and previously held Non-Executive Director roles with Maximus Resources, Canyon Resources, Centaurus Metals, Indiana Resources and Gryphon Minerals. The Board considers Mr. Zaninovich's appointment to bring significant industry experience applicable to resource development, strategic planning, feasibility studies, and project development that are relevant for Aurum's Boundiali Gold Project in Cote d'Ivoire. Announcement • Oct 18
Aurum Resources Limited (ASX:AUE) entered into a Bid Implementation Agreement to acquire Mako Gold Limited (ASX:MKG) from Dundee Corporation (TSX:DC.A), SPARTA Invest AG, DELPHI Unternehmensberatung Aktiengesellschaft and Geodrill Limited (TSX:GEO), David Harper and others for AUD 18.5 million. Aurum Resources Limited (ASX:AUE) entered into a Bid Implementation Agreement to acquire Mako Gold Limited (ASX:MKG) from Dundee Corporation (TSX:DC.A), SPARTA Invest AG, DELPHI Unternehmensberatung Aktiengesellschaft and Geodrill Limited (TSX:GEO), David Harper and others for AUD 18.5 million on October 16, 2024. Mako shareholders will receive 1 Aurum share for every 25.1 Mako shares Aurum will offer to existing holders of the Class A Options, consideration of 1 AUE share for every 170 Class A Options held and Class B Options, consideration of 1 AUE share for every 248 Class B Options held. The transaction is subject to approval of merger agreement by target board. The expected completion of the transaction is November 25, 2024.
Euroz Hartleys Limited acted as legal advisor to Mako Gold. HopgoodGanim and Allion Legal acted as legal advisor to Aurum Resources. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 103% over the past year. Shareholders have been substantially diluted in the past year (407% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (AU$73.0m market cap, or US$50.6m). Announcement • Sep 28
NickelX Limited (ASX:NKL) completed the acquisition of Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million. NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million on August 30, 2024. A cash consideration of AUD 0.06 million will be paid by NickelX Limited. The consideration consists of 3 million common equity of NickelX Limited at a deemed price of AUD 0.00000002 million per share, to be issued for assets of Penny South Gold projects. NickelX Limited will pay an earnout/contingent payment of AUD 1 million cash. As part of consideration, AUD 0.06 million is paid towards assets of Penny South Gold projects. NickelX Limited (ASX:NKL) will also assume an existing 1% royalty on the Penny South Project tenement. As of September 26, 2024, the Company issued 3,000,000 Shares in respect of the Penny South Gold Project.
The transaction is subject to approval of offer by acquirer shareholders and third party approval needed. On September 12, 2024, the issue of the consideration shares was approved by shareholders of NickelX Limited (ASX:NKL). .
NickelX Limited (ASX:NKL) completed the acquisition of Penny South Gold projects from Aurum Resources Limited (ASX:AUE) on September 27, 2024. Announcement • Sep 24
Aurum Resources Limited, Annual General Meeting, Nov 06, 2024 Aurum Resources Limited, Annual General Meeting, Nov 06, 2024. Announcement • Aug 30
NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million. NickelX Limited (ASX:NKL) agreed to acquire Penny South Gold projects from Aurum Resources Limited (ASX:AUE) for AUD 1.12 million on August 30, 2024. A cash consideration of AUD 0.06 million will be paid by NickelX Limited. The consideration consists of 3 million common equity of NickelX Limited to be issued for assets of Penny South Gold projects. NickelX Limited will pay an earnout/contingent payment of AUD 1 million cash. As part of consideration, AUD 0.06 million is paid towards assets of Penny South Gold projects.
The transaction is subject to approval of offer by acquirer shareholders and third party approval needed. New Risk • Jun 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 103% over the past year. Shareholders have been substantially diluted in the past year (205% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$30.2m market cap, or US$20.0m). Announcement • Apr 16
Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7 million. Aurum Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,471,968
Price\Range: AUD 0.24
Discount Per Security: AUD 0.0144
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,694,699
Price\Range: AUD 0.24
Discount Per Security: AUD 0.0144
Transaction Features: Subsequent Direct Listing Announcement • Mar 07
Aurum Resources Limited, Annual General Meeting, Apr 08, 2024 Aurum Resources Limited, Annual General Meeting, Apr 08, 2024, at 10:00 W. Australia Standard Time. Location: 1/38 Colin Street West Perth Australia Agenda: To consider approval to issue tranche 2 placement shares to unrelated parties approval to issue placement options to unrelated parties; to consider approval to issue placement shares and options to director Mr. Caigen Wang; to consider approval to issue placement shares and options to director Mr. Mark Strizek; to consider approval to issue placement shares and options to director Mr. Troy Flannery; to consider approval to issue options to joint lead managers; to consider ratification of prior issue of tranche 1 placement shares listing rule 7.1. Announcement • Feb 07
Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 7 million. Aurum Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,471,968
Price\Range: AUD 0.24
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,694,699
Price\Range: AUD 0.24
Transaction Features: Subsequent Direct Listing Announcement • Jan 29
Aurum Resources Limited Announces Appointment of Caigen Wang as Managing Director Aurum Resources Limited announced that effective immediately, Dr. Caigen Wang will be appointed as Managing Director. Dr. Wang has a successful track record in generating returns for shareholders and "discovery-to- mine" execution as evidenced by the founding of Tietto Minerals Limited in 2010 following a long career as a mining engineer, mining academic and mine manager in Australia, Canada and China. Earlier in his career, Dr. Wang spent 7 years as a lecturer and associate professor at the China University of Mining and Technology and 6 years as research fellow/associate at the Western Australian School of Mines and University of Alberta, Canada. Announcement • Jan 16
Aurum Resources Limited Announces Board Changes, Effective 1 February 2024 Aurum Resources Limited announced that effective from 1 February 2024, Mr. Mark Strizek will be appointed as a non-executive director to the board of the company. Mr. Strizek joins the board with more than 27 years' experience in the resource industry having worked as a geologist on multiple gold, base and technology metal projects. Mr. Strizek has worked as an executive with management and board responsibilities in exploration, feasibility, finance and development-ready assets across Australia, West Africa, Asia and Europe. Most recently Mr. Strizek worked with Dr. Wang on Tietto Minerals USD 200 million Abujar Gold Project in Côte d'Ivoire, which went from IPO in January 2018 through to first gold production in January 2023. The company also announced that Mr. Mauro Piccini and Mrs. Debra Fullerton have resigned from the board, effective from 1 February 2024. Announcement • Dec 15
Aurum Resources Limited Elects Dr. Caigen Wang to Its Board Aurum Resources Limited announced that at the General Meeting held on December 15, 2023, elected Dr. Caigen Wang to its board. Announcement • Nov 15
Aurum Resources Limited (ASX:AUE) agreed to acquire Plusor Global Pty Ltd for AUD 3.8 million Aurum Resources Limited (ASX:AUE) agreed to acquire Plusor Global Pty Ltd for AUD 3.8 million on November 13, 2023. Caigen Wang will be appointed as a non-executive director of the Company in connection with the Acquisition. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (AU$4.92m market cap, or US$3.13m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Oct 05
Aurum Resources Limited, Annual General Meeting, Nov 03, 2023 Aurum Resources Limited, Annual General Meeting, Nov 03, 2023, at 09:00 W. Australia Standard Time. Location: Suite 11, Level 2, 23 Railway Rd Subiaco Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider the adoption of remuneration report; to consider the election of directors; to consider the ratification of prior issue of shares; to consider the issue of shares to related party; to consider the ratification of prior issue of broker options; and to consider the 7.1A mandate. New Risk • Sep 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$8.5k revenue, or US$5.4k). Market cap is less than US$10m (AU$3.15m market cap, or US$2.03m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Sep 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$8.5k revenue, or US$5.4k). Market cap is less than US$10m (AU$3.00m market cap, or US$1.93m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Jul 19
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Troy Flannery is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Feb 17
Aurum Resources Limited Announces Changes to its Board Aurum Resources Limited announced the appointment Ms. Debra Fullarton as a Non-Executive Director. Debra is an experienced Chartered Accountant and mining professional, with over 30 years' experience in the resources industry ranging from junior explorers to global majors. Senior roles include CEO of Westgold Resources Limited, CFO of Westgold Resources Limited, Executive Director of Auris Minerals Limited and Director of De Beers Australia Exploration Limited. Debra completed her professional training with Deloitte, holds an Honours Bachelor of Accounting Science from the University of South Africa, and is a member of the Institute of Chartered Accountants in Australia, the Governance Institute of Australia, and the Australian Institute of Company Directors. Ms. Fullarton's experience covers strategy, leadership, governance, and compliance. As part of bolstering the corporate governance and compliance capability at board level, the Company announced that Mr. Joshua Letcher has resigned from his role as Director and Chairman of the Company, effective 17 February 2022. Mr. Troy Flannery has been appointed as the new Chairman for Aurum Resources. Announcement • Feb 08
Aurum Resources Announces Exploration At its Flagship Project Ryan's Find Is Planned with A Heritage Clearance Programme to Be Conducted by Terrarossa Aurum Resources announced that exploration at its flagship project Ryan's Find is planned with a heritage clearance programme to be conducted by Terrarossa, the Marlinyu Ghoorlie Native Title Claimant Group service provider. Terrarossa are currently in the process of coordinating the drill clearance programme for Aurum over the Watt Hills Greenstone Belt. This programme will aid in identifying any sites of significance and if cleared will allow the planned drilling programme to commence. The Ryan's Find Programme of Works (POW) has been approved by the Department of Mines, Industry Regulation and Safety and allows for track upgrades, access tracks and drill pads, that are required before drilling commences. Following the Heritage Clearance, a site visit will be made to inspect the outcrop areas, position the drill collars and organise access tracks for the forthcoming aircore drilling programme across the colluvium covered areas. An aircore rig is tentatively booked for Aurum with Harmec Drilling, with drilling expected to commence in late March 2023, assuming the heritage clearance program is completed. The long-awaited programme will be the start of gold exploration programme along the Watt Hills Greenstone Belt, which is also host to the historical Aurumin Mt Dimer gold mine. Aurum's Flagship project, Ryan's Find Project is located 100km northwest of Southern Cross, where historical exploration focused on the nickel cobalt potential of ultramafic rocks within the Watt Hills Greenstone Belt. A first pass soil geochemical survey completed by Aldoro Resources, aimed at verifying nickel-cobalt anomalism in historical geochemical surveys in the sole granted licence E16/489, found anomalous gold trends in the data. The granted licence and three licence applications contain more than 50 km of strike length of relatively underexplored greenstone belt, bookended by historic gold mines and workings. The Aurum licences form an Arc around a granitic pluton riming the contact between the granites and greenstones (Watt Hill Greenstone Belt, an extension of the Youanmi Greenstone Belt). The contacts and associated shears are typical settings for orogenic gold. Mt Dimer (Tipan Pit) was mined in the mid 1990's producing 77,000@3.44g/t for ~8,500oz. Everest Metals hold the mining lease M77/515, but Aurum's exploration licence application surrounds the lease and runs to the SE along the structural trend of the old mine. Everest have released a JORC Inferred Mineral Resource Estimate of 722,000t at 2.10g/t Au for 48,545oz of Au and 3.84g/t Ag for 89,011oz Ag. It was reported that The resource remains open to the south and down dip with strong potential to extend the mineralisation along strike to the south". This historic mine is almost surrounded by Aurum's tenement application E77/2535, with potential for strike extension of this mineralised structure into Aurum's ground. On the western side of the dome, another of Aurum's applications lies immediately south of Aurumin Limited's historic deposits of Frodo (open pit and underground), Golden Slipper, Lightning and others which they are currently reassessing and have reported anomalous gold intersections. In late March 2023, following completion of the heritage clearance, Aurum expects to complete an aircore drilling program as part of the POW on granted licence E16/489 at Ryan's Find. JORC 2012 Inferred Mineral Resource Estimate Aldoro Resources had previously completed profile soil sampling for base metals and gold over the north-north-westerly striking greenstones, where the gold sampling results were not followed up. Several above background low level gold assays were returned in the data and probably reflect specific basement others which they are currently reassessing and have reported anomalous gold intersections. Profile aircore drilling is planned over these anomalous sections with approximately 74 holes for 3000m - 4000m planned. Harmec Drilling have been tentatively booked to conduct the drilling, which will focus on the contiguous magnetic unit associated with elevated gold in soils. The local geological strike is apparent in the airborne magnetics and local gossans trends north-north-westerly. The planned drilling is perpendicular to the magnetic strike and with the planned holes having azimuths of 045 and dips -60 degrees. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Chairman Josh Letcher was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 23
Aurum Resources Limited, Annual General Meeting, Nov 08, 2022 Aurum Resources Limited, Annual General Meeting, Nov 08, 2022, at 09:00 W. Australia Standard Time. Location: offices of the Company, Suite 11 Level 2, 23 Railway Rd Subiaco Western Australia Australia Agenda: To consider financial statements and reports; to consider adoption of remuneration report; to consider re-election of director MR MAURO PICCINI; to consider appointment of auditor at first AGM; to consider approval of 7.1a mandate; to consider amendment to constitution; and such other business issues. Announcement • Sep 02
Aurum Resources Limited Announces That Investigation into Base Metal Potential At Penny South Project (E57/1045) Has Confirmed Prospectivity for Nickel and Potential for Both Zinc and Silver Aurum Resources Limited announced that its investigation into the base metal potential at the Penny South Project (E57/1045) has confirmed prospectivity for nickel and potential for both Zinc and Silver. Exploration on Penny South licence E57/1045 has predominantly been focussed on gold exploration with a model similar to Penny West characterised by low tonnage and high-grade style gold mineralisation, despite other mineralisation styles found in the area. On the Penny South licence nickel bearing gossanous fragments were found in the southeast (hole PWAC179 8m @ 0.44% Ni from 32m, Lach Drummond 2004),. VHMS base metal mineralisation also occurs in the broader area at Pincher Hill 13km north and Freddie Well (Manindi). Historical records report Pincher Hill and Well (BHP and WMC) as a large volcanogenic massive sulphide mineral system over 5km in strike with Zn and Ag associated with pyrite - pyrrhotite - sphalerite. Venus Metals has a non-JORC "Exploration Target" of 15-25Mt@2-8% Zn and 3-4g/t Ag (ASX VMC 28/10/22) at Pincher Well. The VMS mineralisation at Manindi is located 16km to the NW and reports as 1.06Mt @6.52% Zn, 0.26% Cu, 3.19g/t Ag (JORC ASX MLS). Empire Resources' Just Deserts copper-gold deposit lies 31km to the north-northeast and is also described as a polymetallic VMS deposit with JORC 2012 resource of 2.52Mt @ 1.31% Cu, 0.49g/t Au and 1.76g/t Ag. Ni-Cu mineralisation occurs 6km to the NW at Currans Well (10m @ 1.34% Ni and 0.71 % Cu GSWA MINDEX), and a Ni occurrence has been recorded in the eastern part of Aurum's E57/1045. The assessment is using historical geochemical analyses and logs to identify areas of potential base metal mineralisation. The available pulps from RC and Aircore drilling will be correlated with target areas and will be selectively recovered for resubmission for base metal suite, as only Au was only analysed previously. Results will be reported as they become available and will assist in shaping the ongoing exploration program for E57/1045. Announcement • May 13
Aurum Resources Limited Announces Photon Results Received for Penny South Aurum Resources Limited provided an update to shareholders on the results of the drilling at the Penny South Project. A total of 931 samples from 19 holes (includes 1 redrilled hole) over 18 sites were analysed using the Photon Assay technique at Min Analytical Perth laboratory. Photon assaying is a non- destructive analytical technique developed by the CSIRO using high energy x-rays to analyse all sample matrices and is a nationally accredited technique. The results turn around was seven weeks, much longer than anticipated, mainly due to IT delays related to the Min Analytical takeover by global laboratory ALS. The programme focused on two main areas, the northern offset target which has a similar structural setting to the Penny West deposit which resides immediately to the north and the southern target along the Youanmi fault and shear system. The RC drilling programme was hampered by the fractured basement with high-flow ground water which affected sample return from around the 150m (inclined) depth. It also prevented 5 holes from reaching the target depth of 200m and was compounded by equipment failures that resulted in these drill returns being compromised. These drilling equipment issues resulted in some instances where only approximately 10% of the expected volume of drill cuttings were recovered for the deepest intercepts. The best grades include: 4m@ 0.36g/t from 152m; 4m@ 0.41g/t from 140m; 4m@ 0.30g/t from 144m; 4m@ 0.6g/t from 152m; 4m@ 0.24g/t from 84m. The recent gold results are consistent in the areas that historical drilling had identified and broaden the anomalous areas in the north and south. These results define a broad zone of low-grade gold mineralisation with pockets of higher-grade gold mineralisation. The recommended forward work programme involves test the 1m intervals over the gold bearing 4m intervals with a Fire Assay technique to see if any sections contain higher grades of gold. This will be followed by a diamond drilling programme utilising the existing collars of the RC holes to conduct diamond tails wedged off above the wet sections of the hole. This will provide confidence in any results produced and technical information on structure and morphology of the contact and alteration systems including the ability to reach deeper depths. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Chairman Josh Letcher was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
Aurum Resources Limited Announces Penny South Drilling Update Aurum Resources Limited announced the Penny South drilling programme was finally completed after numerous delays caused by difficult drilling conditions, fractured rock and equipment breakdowns. All 18 holes were structural targets based on a similar structural and geological settings to Penny West and Penny North gold deposits which lie immediately to the North. All 18 planned holes have been completed, intersecting mafic and ultramafic schists, basalts, gabbro's, dolerites, amphibolites, felsic schists and granodiorites (hanging wall) with selvages of amphibolite of various thicknesses. Numerous shear zones were intersected, and trace levels of sulphides and quartz veining (from stringers to sheets) have been logged from the drill cuttings. Many of the sulphides are located on or near contacts between lithologies and associated with alteration zones. Trace levels of sulphides (<8%), predominately pyrite and minor galena, have been visible in all holes, except the first hole (APSRC0027), in the 1m interval drill chips Sulphide bearing shear zones were encountered in holes APSRC0036, APSRC0037, APSRC0038, APSRC0040, APSRC0043 and APSRC0045. Samples from these holes will be prioritised. The 4m composite samples are currently being prepared for shipment to MinAnalytical Laboratory Services Perth premises where they will be prepared for Photon Assaying for gold. Photon assaying is a non- destructive analytical technique using high energy x-rays to analyse all sample matrices and is a nationally accredited technique. All holes were drilled with 127mm (5") wide percussion hammer. Note a second hole was drilled at RHRC005, as the first (ASPRC0031) was abandoned after the top of the hole blew out. The collar positions for the completed holes were GPS averaged to give greater accuracy. Announcement • Feb 11
Aurum Resources Announces Penny South Drilling Update Aurum Resources announced that the Penny South drilling programme is half of the way through the 18 structural target holes in a similar structural and geological setting to Penny West and Penny North gold deposits lying immediately to the North. A total of 8 of the 18 planned holes have been completed, with the 9th hole almost completed intersecting mafic and ultramafic schists, basalts and granodiorites (hanging wall) with selvages of amphibolite of various thicknesses. Trace levels of sulphides and quartz veining (from stringers to sheets) have been logged from the drill cuttings. Many of the sulphides are located on or near contacts between lithologies and associated with alteration zones. Trace levels of sulphides (<2%), predominately pyrite and galena, have been visible in all holes, except the first hole (APSRC0027) from the 1m interval drill chips. All holes were drilled with 127mm (5") wide percussion hammer. Note a second hole was drilled at RHRC005, as the first (ASPRC0031) was abandoned after the top of the hole blew out. The collar positions for the completed holes were GPS averaged to give greater accuracy. Penny South Project. The project sits on the same shear structure that the high-grade Penny West (1990's open pit 121,000t at 21.8g/t for 85,000oz) and the more recently discovered adjacent Penny North (2020 underground 569,000t at 16.8g/t for 306,800oz). Penny West lies just 510m north of Aurum's Penny South licence and the Penny West N-S Shear continues through the licence for a strike length of 2.5km. High grade mineralisation is associated with the sheared contacts between mafic and granodiorite(felsic) rocks and quartz veining (often associated with sulphides). Similar contacts are seen in Penny South and drilling to date has produced some hits, 2m at 33.89g/t from 38m (historic hole 95PSR0673), 4m at 2.1g/t from 92m (APSRC015 ARN: 28/05/2020) highlighting the potential of the area. The high-grade mineralisation at Penny West and Penny North are narrow high-grade zones so targeting has to be highly focused. While the Penny south area has been extensive drilled with 652 holes, these are generally shallow, with the average around 40m, so if a Penny North deposit, where the mineralisation starts at 80m and continues to 320m, was in the area it would likely be missed. So, the focus has been combining high resolution ground magnetics available drilling information for a detailed structural interpretation. Aurum contracted Richard Hill, who worked on the Penny North deposit for Spectrum, and Margie Hawke (Hazina Geoscience) to define targets along the structurally complex shear system. Announcement • Feb 03
Aurum Resources Limited Announces Penny South Drilling Update Aurum Resources Limited announced that the Penny South drilling programme is a third of the way through the 18 structural target holes in a similar structural and geological setting to Penny West and Penny North gold deposits lying immediately to the North. A total of 5 of the 18 planned holes have been completed, with the 6th hole almost completed intersecting mafic and ultramafic schists, basalts (including dolerite) and granodiorites (hanging wall) with selvages of amphibolite of various thicknesses. While no visible gold has been identified, trace levels of sulphides and quartz veining (from stringers to sheets) have been logged from the drill cuttings. Trace levels of sulphides (<1%), predominately pyrite and galena, were visible in 1m interval drill chips from holes APSRC0028, APSRC0029, APSRC0030, APSRC0032 and APRC0033. These holes were drilled with 127mm (5") wide percussion hammer. Note a second hole was drilled at RHRC005, as the first (ASPRC0031) was abandoned after the top of the hole blew out. The collar positions for the completed holes were GPS averaged to give greater accuracy. Announcement • Jan 24
Aurum Resources Limited Announces Penny South Drilling Commences Aurum Resources announced that the Penny South drilling programme has commenced targeting the structural targets identified in two main areas based on similar setting to Penny West and Penny North gold mine which lie just to the North. A total of 18 holes are planned based on the structural interpretation and are in addition to an earlier work program, which was primarily based on exploring the existing down hole geology and analytical results. Over 5000m of RC drilling is planned, focused on the most promising areas of the licence. Strike Drilling have been contracted for the programme. Penny South Project. The project sits on the same shear structure that the high-grade Penny West (1990's open pit 121,000t at 21.8g/t for 85,000oz) and the more recently discovered adjacent Penny North (2020 underground 569,000t at 16.8g/t for 306,800oz). Penny West lies just 510m north of Aurum's Penny South licence and the Penny West N-S Shear continues through the licence for a strike length of 2.5km. High grade mineralisation is associated with the sheared contacts between mafic and granodiorite(felsic) rocks and quartz veining (often associated with sulphides). Similar contacts are seen in Penny South and drilling to date has produced some hits, 2m at 33.89g/t from 38m (historic hole 95PSR0673), 4m at 2.1g/t from 92m (APSRC015 ARN: 28/05/2020) highlighting the potential of the area. The high-grade mineralisation at Penny West and Penny North are narrow high-grade zones so targeting has to be highly focused. While the Penny south area has been extensive drilled with 652 holes, these are generally shallow, with the average around 40m, so if a Penny North deposit, where the mineralisation starts at 80m and continues to 320m, was in the area it would likely be missed. So, the focus has been combining high resolution ground magnetics available drilling information for a detailed structural interpretation. Aurum contracted Richard Hill, who worked on the Penny North deposit for Spectrum, and Margie Hawke (Hazina Geoscience) to define targets along the structurally complex shear system. Ramelius Resources, to the North, have released a JORC Mineral Resource and ore reserve for enlarging the Penny West pit and planned a decline to Penny North from the open pit with 620,000t at 15.0g/t for 300,000oz .(2g/t cut off). 
