To properly attack the mining sector of Côte d’Ivoire, especially gold exploitation, the Australian companies Mako Gold and Aurum Resources recently formalized their merger.
As a reminder, in October 2024, Mako Gold and Aurum Resources signed a merger agreement.
Concretely, the latter is about to be finalized, according to a joint press release published on January 10.
The operation will allow Aurum Resources to take control of Mako Gold, with already more than 86% of the shares acquired.
The remaining shareholders have until January 31, 2025 to accept the purchase offer, thus putting an end to this transaction.
Why this merger for the gold of Côte d’Ivoire?
The merger promises to give Aurum control of the Napié and Korhogo projects in Ivory Coast.
-And for good reason, Napié has at least 868,000 ounces of gold, while Korhogo has already revealed a significant discovery of manganese.
In addition, a deposit of 45 tonnes of gold was discovered in Boundiali, adding to the attractiveness of these projects.
The new entity will have substantial financial resources, with 12.3 million USD (or nearly 8 billion CFA francs) in liquidity, to develop these projects.
For Ivory Coast, this consolidation strengthens prospects for gold mining development, as the government aims to double gold production in the next five years. In 2023, the country produced 51 tonnes of gold.
