- Aurumin listed on the ASX in 2020 with early positive drilling results on its Mt Dimer Project.
- After hitting an all-time high in mid-2021, the share price collapsed.
- Aurumin has now sold Mt Dimer, coupled with a capital raise, fully funding the company’s work at its Sandstone project.
In December of 2021, junior gold explorer Aurumin acquired the 784koz Sandstone Gold Project in a Western Australia region with production history. Sandstone came with existing infrastructure in place, including camps and office access along with a processing plant.
By May of 2022 drilling at Sandstone had begun, with continued progress unveiling a larger resource base, pushing market announcements on progress at Mt Dimer out of the limelight.
Source: ASX
By November of 2023, Aurumin had sold Mt Dimer, leaving lithium exploration at its Mt Palmer Gold Project asset as its sole active exploration site along with the now flagship Central Sandstone Project. A 7 March update to the market announced the company’s capital raise fully funded work at the prospective sites within the Central Sandstone Project while the company “evaluates its options for Mt Palmer.”
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Since listing the share price has dropped 87%, but investors appear to be linking interest in the company with the rising price of gold. The share price is now up 34.6% year to date.
An analyst at Peak Asset Management has BUY recommendation on Aurumin shares, citing the company’s debt free status with all planned exploration activities in 2024 fully funded, with the share price “leveraged to an increasingly strong gold price.”
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