Aurumin (ASX: $AUN) secures funding for Sandstone Gold Project

Aurumin Limited (ASX: $AUN) has successfully secured firm commitments to raise a total of $2.5 million through the issue of approximately 78 million shares at an issue price of $0.032 per share. The Placement was strongly supported by existing major shareholders and directors. The Company is now debt-free and fully funded for all planned exploration for CY2024, with drilling planned to commence at the flagship Sandstone Gold Project during April.

Aurumin's Managing Director, Brad Valiukas, on the funding and exploration plans

We are very pleased to have cleared the remaining balance of the Convertible Note and thank Collins St, existing shareholders, and directors for their support of the Placement. Aurumin is now debt free with a strong cash position, having transformed the balance sheet, and we are unlocking potential for growth. We look forward getting out and drilling at our flagship 946koz Sandstone Gold Operations ASAP. Following recent divestments Aurumin is strongly focussed on the Sandstone Project and will look to generate the critical mass required for future production starting with open pits.

Aurumin's outlook and corporate strategy

Aurumin Limited (ASX: $AUN) has successfully secured funding through a $2.5 million placement, enabling the company to become debt-free and fully funded for all planned exploration for CY2024. The firm commitments received for the placement, including support from existing major shareholders and directors, demonstrate strong confidence in the Company's projects. With drilling planned to commence at the flagship Sandstone Gold Project in April, Aurumin is focused on unlocking the potential for growth and generating the critical mass required for future production, starting with open pits. The Company's ambitions and goals are centered around the Sandstone Project, and it aims to support a gold mining operation in the future, while actively exploring its tenements and pursuing further acquisitions to create additional shareholder value.