Conferences. On behalf of OTC Markets, we are very pleased you have joined us for the second day of our Precious Metals and Critical Minerals Conference. The next presentation is from Aurum Resources Limited. Please note you may submit questions for the presenter in the box to the left of the slides. You can also view a company's availability for one-on-one meetings by clicking Book a Meeting. At this point, I am very pleased to welcome Caigen Wang, Managing Director of Aurum Resources Limited, which trades on the OTC Markets under the symbol AUERF, and on ASX under the symbol AUE. Welcome, Caigen.
Thank you, Lily, thank you for OTC Markets to give me the opportunities to present it to you. Ladies and gentlemen, thank you for attending this presentation. My name is Caigen Wang. The topic I'm going to deliver is rapidly growing and developing two gold projects in Côte d'Ivoire. I try to present accurately. If there is any error or incorrect information, then it's not we want. It's just a simple disclaimer. For Aurum Resources, I try to show you through this presentation that we are able to building West Africa's mid-tier gold producer in next five years. Why we say so?
It shows ambitious, but if you look at what we have done in Côte d'Ivoire in the past and what we have now and what we plan to do in the next this year and in follow years, you might see, okay, yeah, it's feasible. Our team has a proven experience of building large size open pit mine in Côte d'Ivoire. For ourselves, that's from our Tietto Minerals time. Tietto Minerals, I found Tietto Minerals in 2010, we listed on ASX in 2018, we built a 5 million tonne per annum gold mine in 2022. This, Tietto's open pit mine, the 3.8 million oz resource was discovered by ourselves.
We went through every step of exploration stage, environment approval, mining license application, project funding, and building the large-size open pit mine operations to produce gold. That's our past experience, and we are now growing resource for our two new projects under Aurum Resources very rapidly. We also, in the past two years, we also did an acquisition, acquire 100% of another ASX-listed company. We do have a good experience of M&A as well. Our unique capacity compared with our peer is we own diamond drill rigs, we employ drillers. We currently, at one of our two projects, at the Boundiali project in Côte d'Ivoire, we have 14 diamond drill rigs drilling day and night. Those rigs all belong to ourselves and the drillers are our employees.
We are drilling at a very low cost for around $45 per meter of diamond. We also have a good experience of doing project consolidations in this part of the world. Later on we will show for the Boundiali project, we consolidate seven exploration tenements from six companies. Mako Gold is our acquisition company. Mako Gold now is our fully owned subsidiary. Mako Gold is a project, when we acquire, was the Napié project, which we will talk about later on. On the corporate side, we are trading on Australian Securities Exchange at today's closing price of AUD 0.625. Our market cap is AUD 252 million, and based on 403 million shares on issue. At the end of March, we had AUD 61.5 million in cash in the bank.
We are well-funded. This gives us the enterprise value of just AUD 190 million. That's quite small given our total resource of the two projects, 4.2 million oz. Each ounce is actually as an enterprise value per ounce is only $33 USD. On our board side, we have a combination of different experience. Richard Simpson has a broker background. He was Managing Director of Hartleys and Executive Director of Euroz Hartleys. Myself, I'm a mining engineer, and Mark Strizek is a geologist, and Steve Scudamore, he's a mine builder, and he used to be a Director of Lycopodium. Troy Flannery is a mining economist.
Our country management side, Mr. John Carver and Mr. Yaya Ouattara, both of them were on the same job at Tietto Minerals time. They follow us when we did a backdoor listing into Aurum Resources. They are now our in-country managers. Our major shareholders are, biggest shareholder is, Perseus Mining. They became our largest shareholder, own 9.9% of the company in late March. The board and the management, we own 9.7%. The second, the biggest shareholder is Zijin Capital, which is listed on Stock Exchange of Hong Kong. Zijin Capital is the company that took over our previous company, Tietto Minerals. The other institutions owns around 26% of the company. The right side shows our performance of share over the past 12 months.
Now we look at where our two gold projects are. One is the Boundiali project. The Boundiali project has 3.03 million oz resource. It's located in the northwest of Ivory Coast. The project is comprised of seven exploring tenement and for a total of 1,470 sq km. So far, the resource defined at the Boundiali project is 3.03 million oz resource. That's all defined by ourselves in the past two years. Another project is the Napié project. The Napié project currently 1.16 million oz resource. The project was a result of our acquisition of Mako Gold. When we took over Mako, this project had 870,000 oz. We just add 300,000 oz of resource on the 10th of April.
With these two advanced project, they are 120 kilometer apart, and we are planning to develop these two project into two standard Aurum future gold production mine. The first one is the Benza. Second one is your project. Both project result for our gold exploration tenement in Côte d'Ivoire, we have 2,500, as shown on these red polygons on this map. For the resource growth, as shown on this chart, we didn't have any resource in December 2023 when we did a backdoor listing into Aurum. Under Aurum, at that time when we did the backdoor listing, we had a company called Plusor, P-L-U-S-O-R. Plusor is the owner of Boundiali project. We use Plusor, did a backdoor listing into Aurum.
After backdoor listing, our resource grew from zero to now 4.3, 4.2 million oz resource. For these two projects, resource of the Boundiali project, that's all defined by ourselves. 1.16 million ouz resource for the Napié project. 860,000 is outcome of acquisition of Mako, and our addition is 300,000 oz on the Napié project. We show here is that the growth path for the Boundiali from zero to measured and indicated resource, 1.6 million oz resource. First resource update to 2.4 million oz resource. That was in August 2025. On the 23rd of February this year, we update the Boundiali project to 3.03 million oz resource.
This resource will continue grow as we currently have 14 diamond drill rigs drilling at the Boundiali project. Our next resource update for the Boundiali project will be in September. The Napié project resource grow from 870,000 oz, which is come from acquisition. We increase to 1.6 million oz through our drilling. Now we look at the details of the Boundiali project. It has seven exploring tenements and joined to each other. The current 3.03 million oz resource come from three exploring tenements. On the right-hand side, the slim one we call the BM tenement. B stands for Boundiali, M stands for the holding, the license holding company, MinEx. BM tenement. As the come to the middle one we call the BD tenement. Boundiali DS Resources.
DS Resources is the holding company. Another one is on the left, low side, BST, we call the Boundiali South tenement. That's three licenses which contribute the current 3.03 million oz resource. As you see, there are the many small polygons within this three large polygons. These smaller polygons are all resource mineralization targets, some of them being drilled, six of them being drilled, which produced 3 million oz resource, the more smaller polygons or more targets are yet to be drilled to define more resource. I'm not talking more details on the resource side.
As we show here, for the current 3 million oz resource, the indicated resource is 14.8 million tonne at the 1 gram per tonne, which gives the 1.37 million oz indicated resource. Inferred resource is 58.8 million tonne at 0.9 gram for 1.66 million oz resource. We are currently doing pre-feasibility study for the Boundiali project based on the 3.03 million oz resource. PFS will be finished this month. We are working to publish it, to conclude the PFS by end of this month. The PFS may be published the end of this month or the first week of next month.
The drilling with 14 diamond drill rigs will give us opportunity to do another resource update in September. The September resource will be used to finish the PFS. What it shows here is the example of the Abujar Gold Mine, which our team built at Tietto Minerals times. This is just to shows demonstrate how the CIL processing system look like. The Boundiali Gold Project processing system is a simple CIL system. The PFS is expected in this quarter, and we are working on 6 million tonne milling capacity to produce 180,000-200,000 oz of gold per year. This metallurgy test shows it's quite a simple CIL system. We are currently finalizing the process plant design.
At the end, when built, it will be similar to what we show on this photo. Come to more details on each of the current resource or current deposit. One of the deposit on the Boundiali is BDT1, BDT2, BDT3. The blue dots are show on this map, the lot of blue dots shows where the current gold deposits are on the BDT1, BDT2, and the BDT3 targets. There are some really good drilling into sections which I list on the left. I'm not going to talk in too much details on that. Just to show that on this BD tenement, as we still have a number of targets that haven't drilled yet.
Even the three deposits are still open around the strike and around the dip. We still have a big upside on the BD tenement. This slide just shows some of the typical sections of the BD deposits. On the left side is BDT1 deposits. It's a sub-vertical around the dip, quite a thick mineralization, and some section has a really very good high grade. On the right side shows the BDT3 target, the section shows some quite a high grade as well. Thickness-wise, it's not as thick as the BDT1. If you move to the BM tenement, which is on the right-hand side, this long, slim tenement. This tenement covers around 75 km from the north to the south, and the tenement itself is just 400 sq km.
It looks slim, but it's quite big. The smaller polygons are some of the gold deposits we drilled, some are targets yet to be drilled. Currently we have a resource come from two deposits on the BM tenement, we call the BMT1 and BMT3. For 1.07 million ouz resource defined from this BMT1 and BMT3, and these two deposits are still open around strike, as well as at depth. We are currently have done the drill rigs drilling on this BDT3 deposits to grow the resource further. Look at the mineralizations of the BMT3. It's quite thick and the grade is also reasonably high. If we look at the left, I will show the resource table.
The BMT3 has the overall 1.3 gram per ton, so it's the highest grade among our current six deposits. The BMT1 grade is also quite good, but thickness is not as good as the BMT3. Move to the Boundiali South tenement. The Boundiali South tenement, we currently have 570,000 oz resource defined. It's only a small portion of the BST1 target. We are now going to do further drilling to grow the resource, as well as bring some portion of the resource into indicated category for our DFS. Also show on the left side, shows some very high grade of intersections in some of our drill holes. For the Boundiali project, what are the milestones that we are working on to deliver?
The first of all is a resource update on the 23rd of February, which we delivered 3.03 million oz resource. For the Boundiali also, we this quarter, end of this month, or first week of June, we completed the PFS. Environmental approval will be finished in this quarter, maybe at the latest will be the next quarter. Mining license-wise, we are working on the schedule, hopefully to get the mining license to be granted in the Q3 of this calendar year. Resource update with our current 14 rigs drilling at the Boundiali project. We will do another resource update at Q3. Most likely it's in September this year, and we are targeting 3.5 million oz of gold resource, with 2/3 in indicated category.
This resource will be used to finish the DFS before the end of this calendar year. By the end of this year, we are try to get this final investment decision to be made, and have the land clearance done for the processing plant area, for the TSF area, and for the camp area. That's for the Boundiali project. For the Napié project, we delivered 1.16 million oz resource on the tenth of April. We are also going to drill more meters. We planned 30,000 meters for the Napié project this year. Boundiali project-wise, we are going to drill, or we are heavily drilling, for this year we have drilled more than 100,000 meters for the Boundiali project.
Total, the diamond meters for this calendar year will be more than 130,000 meter. For the Napié project, as mentioned previously, this is an outcome of our takeover of Mako Gold, another junior ASX-listed company, we took over in March last year. At that time, the project had 870,000 oz. Through our diamond drilling from June last year to later last year, we have a resource updated to 1.16 million oz resource. It's around 39% or 30% of resource growth for this project. We are confident that this resource will grow further, and this give us the opportunities to develop a second project in Côte d'Ivoire.
This slide just shows some sections of the Napié Gold Project at the shallow depths and at relatively deeper sections. Because of our over a decade of experience operating in Côte d'Ivoire, from Tietto Minerals time and from Aurum Resources time, we do realize the importance of ESG. We work very closely with the communities, with the governments at a different level. This slide just shows a couple of examples of how we working with the communities, like what we did Pink October for the Boundiali region, for the village people, we invited the doctors, sponsored the doctors for visiting these regional areas to help us as females. The low portion shows the aborigines at Napié Gold Project, which we built for the communities. What do we want to know about Aurum Resources?
We have experienced team operating in Côte d'Ivoire. Myself, since 2012, I have been coming to Côte d'Ivoire for 89 trips. I'm currently sitting in Abidjan. This is my number 89 trips to Côte d'Ivoire. We know this country and different level, different section of the country also know us, and we are experienced team operating on two advanced project, and with a strong growth momentum for the resource growth and for project development. This is shows the resource table, and this is last slides I'm want to present to you. This resource table is available on our website or on our ASX release on ASX website.
If you want to need more information, I'm available next week, so we can talk more by one- to one. In terms of questions, I see a number of questions come in. Just look at first question, "Côte d'Ivoire is now one of the fastest growing gold producers in West Africa with multiple operational mines." How is that existing infrastructure and mining economics help you progress your development? For our Boundiali project, the infrastructure is too good. Why I say so? Because there's a 225 kW grid power line is too close to our future open pit. In our PFS study, we propose to relocate the power line. Bitumen road runs through our Boundiali project as well.
Water-wise, in this part of the world, Côte d'Ivoire is probably too much water everywhere, and we are not in short of water. For second, Lawrence Kenny, "The company highlighted strong community engagement and local employment, including projects like, Napié project. Are you already seeing that social license?" Yes, that's right. We received a very strong support from communities at a different level. This is through our past joint effort, working very closely with the communities at the different part of the project. Roger Piershur, "You have seen some higher grade sheets at both Boundiali and Napié. Which area do you think has the best chance of deliver another step change in the grade and ounce in the next 12-18 months?" Yes, I'm sorry that time runs out.
I'm running at 30 minutes, 30 seconds. I'm sorry, I must cut off. For the questions, I'm not able to answer, I'm sorry about that. We can have a one-to-one chat next week if you send the invitation to me. Thank you.