Turaco raises A$35m to accelerate drilling in Cote d'Ivoire
West Africa-focused Turaco Gold has announced a A$35-million equity raise to accelerate drilling at the Afema project, in Cote d’Ivoire.
The ASX-listed company will raise the funds in a two-tranche placement of 112.9-mllion shares at 31c a share.
The placement price represents a 13.9% discount to Turaco’s last traded price of A$0.36 a share on October 15.
The placement was significantly overbid with strong demand from several new and existing Australian and international institutional investors.
“With the end of the wet season, we will now accelerate drilling activity to target resource extensions and new discoveries through the testing of several large-scale exploration targets. We have two rigs operating on site now and will look to increase this following completion of this raising,” said MD Justin Tremain.
Turaco has delineated a maiden Joint Ore Reserve Committee-compliant resource of 2.5-million ounces within six months of acquiring its interest in the Afema project.
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