Fortuna takes option over Turaco’s Tongon North project
West African miner Fortune Silver Mines has taken an option over an 80% interest in five granted exploration permits that make up Australian junior Turaco Gold’s Tongon North project, in Cote d’Ivoire.
Under the option agreement, announced on Wednesday, Fortuna is to make an upfront cash payment to Turaco of $100 000 and must spend at least $3.5-million on the project within three years.
Turaco MD Justin Tremain explained that granting Fortuna an option over Tongon North was consistent with the company’s commitment and focus on the Afema gold project, in south-east Cote d’Ivoire.
He noted that Turaco was likely to further rationalise its northern Cote d’Ivoire projects, but that it would retain the Eburnea gold project, which includes the Satama greenfield gold discovery.
Last month, Turaco received Ministerial approval for the acquisition of an initial 51% interest in Afema from Endeavour Mining. Turaco has the right to increase its interest to 70%.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation