ASX All Ords gold share Aurum Resources Ltd (ASX: AUE) just did it again.
And by 'it', I mean racing ahead of the All Ordinaries Index (ASX: XAO).
Aurum Resources shares closed up 1.70% on Wednesday, trading for 60 cents apiece, well ahead of the almost flat finish posted by the All Ords yesterday.
That sees the Aurum share price up a whopping 130.77% since market close on 31 January. Or enough to turn an $8,000 investment into $18,461.6.
The ASX All Ords gold share has been catching tailwinds on several fronts.
First, the gold price has surged more than 60% in 2025, with the yellow metal currently fetching US$4,214 per ounce.
Second, investors have been keeping a close eye on the growing potential of the miner's Boundiali and Napie Gold Projects, both located in Côte d'Ivoire (formerly Ivory Coast).
And earlier in December, Aurum caught the attention of Canaccord Genuity, which initiated coverage on the stock with a speculative buy rating.
Here's what you need to know.
Image source: Getty Images
ASX All Ords gold share tipped to keep shining bright
Canaccord sees significant opportunity at the Boundiali project.
"The flagship Boundiali consists of seven neighbouring exploration tenements stretching 75km north to south for ~1,470km2 with a total combined resource of 2.41Moz @ 1.0g/t Au," the broker said.
And the ASX All Ords gold share has a dozen drill rigs aiming to boost that gold resource.
According to Canaccord:
AUE believes its competitive advantage is its ability to run a fleet of company owned diamond drill rigs, which can be operated at costs much lower than its peers. AUE and its twelve operating rigs can potentially achieve higher drill advancement rates, delivering more resource updates at lower costs compared to its peers, in our view.
Commenting on the potential resource growth at Aurum's two projects, Canaccord said:
We see potential for the broader Boundiali Gold Project to host ~3.1Moz over time, inclusive of the 2.4Moz defined to date. We see potential for the broader Napie Gold Project to host ~1.1Moz over time, inclusive of the 0.87Moz defined to date.
And the company looks well-funded for ongoing exploration.
"AUE reported cash of A$23.7m as at the end of the SepQ'25 with no outstanding debt," Canaccord noted.
"It subsequently sold ~A$23m of Montage Gold Corp (TSE: MAU) shares, issued in lieu of cash consideration as part of MAU's 9.9% strategic investment, for estimated pro forma cash of ~A$40m," the broker added.
Canaccord has a price target of $1.50 on the ASX All Ords gold share. That represents a potential upside of 150% from Thursday's closing price.
