Each one in plain English, with the numbers worked through for a shareholder.
5 June 2024drilling result▲ Good
Six more metallurgical diamond holes along the Afema Shear returned results such as 22m @ 4.99g/t at Adiopan and 28m @ 2.23g/t at Asupiri. A third rig is to join Woulo Woulo resource drilling next week toward the maiden resource. Incremental to earlier results.
20 May 2024drilling result▲ GoodMajor
First Turaco drilling at Woulo Woulo returned 105m @ 1.61g/t gold from 135m, the best intersection there to date, with deeper holes suggesting mineralisation widens and improves at depth. Cash is stated as over A$20M. Two rigs continue.
8 May 2024asset acquisition disposition● NeutralMajor
Many Peaks (the buyer) announced completion of its purchase of CDI Holdings, which holds the Predictive JV permits, issuing 5M shares to Turaco. It also assumes the 1.0% Resolute royalty, and Turaco keeps its share of Boundiali South sale proceeds. This completes the 26 March sale.
1 May 2024capital raising announcement▲ GoodMajor
Placement of 112.5M shares at 16c raised A$18M, a 5.9% discount to the last trade of 17c. It was overbid more than two times, with proceeds to accelerate Afema drilling toward a maiden resource. It follows the A$6.6M raising at 9c in November 2023.
What it means for a shareholder
113m new shares at $0.160 to raise about $18.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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26 Apr 2024other● Neutral
Appendix 4G governance checklist for the 2023 annual report, which was lodged 28 March 2024. Administrative, with no new information.
26 Apr 2024investor presentation● Neutral
Updated Afema corporate presentation showing 635M shares, a A$108M market cap at 17c and about A$4.5M cash after the Afema payment. It repeats known drilling and project facts; no new results.
23 Apr 2024other▲ Good
Metallurgical tests on Woulo Woulo drill core show gold extraction of 93.9% (oxide), 88.2% (transitional) and 89.4% (fresh) by standard cyanide leach. This supports earlier preliminary tests; further optimisation work is still to come.
17 Apr 2024drilling result▲ GoodMajor
First Afema diamond results from Jonction and Anuiri include 67m @ 8.43g/t gold from 94m, with 1m @ 234.49g/t of visible gold. Turaco says width and grade exceed historical modelling. This supports the push for a maiden resource.
17 Apr 2024admin correction● Neutral
Re-release of the 17 April Afema drilling announcement to add the omitted Competent Person's Statement. The results are the same; no new information.
2 Apr 2024farm in farm out completion▲ GoodMajor
Turaco completed the purchase of an initial 51% of the Afema Gold Project, issuing 46.5M shares (12-month escrow) and paying US$1.5M to Endeavour, which now holds ~7%. Two rigs are drilling, over 1,000m of diamond done; 12.34M performance rights vested.
28 Mar 2024annual report● Neutral
Annual report for 2023, with the chairman calling the Afema acquisition the year's highlight and a 'company making' project. Strategy is to rationalise northern projects and keep Eburnea. A A$6.6M raising was completed. Financial figures are not visible in the text provided.
26 Mar 2024asset acquisition disposition● NeutralMajor
Turaco agreed to sell its 89% interest in the Predictive JV (Ferke, Odienne, Beriaboukro projects) to Many Peaks Minerals for 5M Many Peaks shares (~11% holding, 12-month escrow) plus any Boundiali South sale proceeds. Predictive's 10M performance rights are to be cancelled. Completes the northern portfolio rationalisation.
21 Mar 2024admin correction● Neutral
Amended re-release of the Boundiali sale announcement adding terms: conditions due by 31 March 2025, and share consideration of 5M Aurum shares if the 20-day VWAP is 20c or less, otherwise A$1.2M of shares. Headline deal unchanged.
19 Mar 2024asset acquisition disposition▲ GoodMajor
Binding term sheet to sell the non-core Boundiali permit (PR414) to Aurum Resources for A$0.8M cash or up to A$1.2M in Aurum shares, at Turaco's election. Conditional on permit renewal and approvals. Proceeds split 89/11 with Predictive; funds to go to Afema.
6 Mar 2024farm in farm out agreement▲ GoodMajor
Fortuna Silver Mines gets an option over 80% of the five Tongon North permits, paying US$100,000 now and spending at least US$3.5M over 3 years. Turaco can keep 20% or sell it for US$1.5M. Part of narrowing focus to Afema and Eburnea.
29 Feb 2024regulatory community update▲ GoodMajor
The Minister approved Turaco's acquisition of the initial 51% of Afema and extended the mining convention, giving 3 years for a new feasibility study. This clears the main condition. Drilling is starting: 3,500m diamond contract signed and 10,000m RC contract imminent. Completion will issue 46.5M shares and pay US$1.5M.
30 Nov 2023security holder rights change● Neutral
6,950,000 performance rights lapsed because vesting conditions were not met by the 30 November 2023 expiry. Administrative; removes potential future dilution.
29 Nov 2023capital raising announcement▲ GoodMajor
Placement of 73.3M shares at 9c raised A$6.6M, a 14% discount to the last trade, plus A$80,000 of director participation subject to approval. Funds the US$1.5M Afema payment and drilling. Resolves the funding need after the Afema deal; existing 11.15M performance rights were also exercised.
What it means for a shareholder
73.3m new shares at $0.090 to raise about $6.6m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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21 Nov 2023asset acquisition disposition▲ GoodMajor
Turaco agreed to buy an initial 51% of the Afema Gold Project (227km2 mining permit) from Endeavour, rising to 70% after a feasibility study. It pays US$1.5M plus 46.5M shares (Endeavour ~9%). Subject to government approval. Woulo Woulo discovery drilled over 2.9km; Rob Seed appointed COO.
21 Nov 2023investor presentation● Neutral
Updated corporate presentation promoting the Afema acquisition, showing 502.7M shares, A$3.2M cash at 30 September and a A$35M market cap at 7c. Repeats the acquisition announcement; no new results.
21 Nov 2023other● Neutral
Notice of an investor webinar on 23 November 2023 with the Managing Director, to discuss the Afema acquisition. No new information.
17 Nov 2023other● Neutral
ASX paused trading in Turaco shares pending a further announcement. No reason is given in the text; it came before the Afema deal announcement four days later (a likely link, but an inference).
7 Nov 2023asset acquisition disposition▲ GoodMajor
Turaco agreed to sell its disputed 35% stake in the Boundiali North permit (260km2) to drilling company Plusor, in return for 3,500m of free diamond drilling worth an estimated A$700,000-800,000. This ends a dispute inherited from the 2021 Resolute purchase.
25 Sept 2023drilling result▲ Good
The maiden 5,149m Odienne South program (160 holes) found a continuous zone of more than 1g/t gold over 1,200m, e.g. 12m @ 1.18g/t. Shallow oxide only; open in all directions. Follows the auger anomalies; early-stage, no resource yet.
13 Sept 2023half year report● Neutral
Half-year loss to 30 June 2023 was A$2.17M, down from A$7.86M, due to reduced exploration spending that the report attributes to weaker market sentiment towards junior explorers. Ferke's security review is now satisfactory, with maiden auger planned.
31 July 2023admin correction● Neutral
Re-lodges an amended June 2023 quarterly report released earlier the same day. The text provided does not say what was changed; the content shown matches the original.
4 July 2023drilling spud▲ Good
Maiden drilling of about 5,400m has begun at Odienne South, testing 3.5km and 1km gold anomalies after the earlier auger results. Natogo auger at Tongon North confirmed a 1.3km saprolite anomaly with up to 2.24g/t. Shares on issue are now 502.7M.
11 May 2023capital raising announcement▲ GoodMajor
Placement of 75 million shares at 5c to raise A$3.75M, managed by Blackwood Capital. It follows cash falling to about A$2.5M at March. The price is a 4% discount to the last trade. It also absorbs a 16.3M-share parcel from a fund being wound up. This resolves the low-cash thread.
What it means for a shareholder
75.0m new shares at $0.050 to raise about $3.8m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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11 May 2023investor presentation● Neutral
Updated corporate presentation for May 2023, showing 492.7M shares on issue, A$6M cash and A$25M market cap at 5c. Repeats known project information; no new results.
8 May 2023drilling result● Neutral
Aircore on the western Satama structure found modest oxide gold along 2.5km, best 15m @ 1.04g/t; lower grade than the main trend. Odienne South auger defined a 2km+ anomaly with up to 6.35g/t. Follows the earlier auger results.
