07:22 AM EDT, 07/15/2025 (MT Newswires) -- Montage Gold ( MAUTF ) after markets closed on Monday said it closed its strategic investment in Aurum Resources .

The investment included a share exchange transaction. Montage received around 32.88 million fully paid ordinary shares of Aurum at a deemed issue price of AU$0.356 each and Aurum received approximately 2.88 million common shares of Montage at a deemed issue price of C$3.61 each.

Aurum Resources plans to use the proceeds to accelerate resource definition drilling at the Boundiali gold project and exploration drilling at its Napie gold project, in Cote d'Ivoire, as well as to progress technical studies and permit applications.

Montage Gold ( MAUTF ) said that it now holds a 9.9% interest in Aurum and has coinvested alongside other strategic investors including the Lundin Family and their associates as well as Zhaojin Mining Industry Company Limited, through its wholly-owned subsidiary, Zhaojin Capital Limited.