Canada’s Koulou Gold Gets $13M to Expand Exploration in Côte d’Ivoire
TLDR
- Canadian junior mining firm Koulou Gold has raised $13.04 million (7.53 billion CFA francs) through a private placement
- The announcement comes as the company expands its footprint with the acquisition of the Assuéfry permit
- A portion of the capital raised will also go toward acquiring new exploration permits
Canadian junior mining firm Koulou Gold has raised $13.04 million (7.53 billion CFA francs) through a private placement to finance a major gold exploration campaign in Côte d’Ivoire. The announcement comes as the company expands its footprint with the acquisition of the Assuéfry permit, its fourth asset in the country.
CEO Alex Ruggieri said the funding will fully support exploration across the company’s Ivorian portfolio, which now includes Assuéfry, Sakassou, Kouto, and Bokro. Planned works include 20,000 meters of diamond drilling and a magnetic survey at Assuéfry, 18,000 meters of drilling at Sakassou, 5,000 meters of reverse circulation drilling at Kouto, and early-stage geochemical sampling at Bokro.
None of the sites has yet reached a compliant mineral resource estimate, marking 2025 as a pivotal year for Koulou Gold. A portion of the capital raised will also go toward acquiring new exploration permits, as the company pursues long-term growth in one of Africa’s most promising gold regions.
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Key Takeaways
With national gold production reaching 59 tonnes in 2024, Côte d’Ivoire is attracting a new generation of junior miners like Koulou Gold, aiming to scale exploration in West Africa’s underexplored gold belt. According to the Ministry of Mines, the country forecasts 62 tonnes by the end of 2025. Koulou Gold’s multi-site drilling program and search for additional permits illustrate a broader trend: Côte d’Ivoire’s rising appeal as a stable, resource-rich mining destination. The country’s improving regulatory framework, combined with increased geological investment, positions it as a magnet for exploration capital. For investors, Koulou’s high-impact drilling year could set the stage for future resource declarations and potentially commercial operations. With no permit yet reaching JORC- or NI 43-101-compliant status, 2025 is likely to determine the company’s valuation trajectory and long-term viability in the region.
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