Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2024quarterly activities report● Neutral
September 2024 quarter: cash A$15.12M, with the A$35M placement lifting pro forma cash above A$48M. Repeats the 2.52Moz resource and Woulo Woulo and Herman results; drilling began at Jonction and Niamienlessa. Resource update targeted for the March 2025 quarter.
18 Oct 2024capital raising announcement▲ GoodMajor
Turaco raised A$35M at 31c per share (about 112.9M shares), a 13.9% discount to the last price. Pro forma cash is over A$48M, funding faster Afema drilling; an updated resource is targeted for Q1 2025. A second tranche needs shareholder approval.
What it means for a shareholder
113m new shares at about A$0.310 to raise about A$35.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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14 Oct 2024drilling result▲ GoodMajor
Seven shallow holes at the Herman Mine, about 700m from Woulo Woulo, all hit gold, e.g. 15m @ 2.11g/t from 93m. Turaco calls this a new parallel mineralised trend, open to the north for 1km. Follow-up drilling is planned; no resource yet.
25 Sept 2024drilling result▲ Good
Final five deep Woulo Woulo holes, outside the maiden resource, all extended mineralisation, including 92m @ 1.65g/t from 181m and 211m @ 0.90g/t from 206m. This resolves the five pending deep holes and supports resource growth, though the resource itself is unchanged.
13 Sept 2024half year report● Neutral
Half-year to 30 June 2024 shows a loss of A$7.19M, up from A$1.94M a year earlier, due to the Afema acquisition and more exploration spending. It restates the 2.52Moz maiden resource announced after period end. No new operational information.
11 Sept 2024investor presentation● Neutral
Precious Metals Summit presentation titled '2.5Moz and Growing Rapidly', showing 751M shares, a A$0.25 share price and A$188M market cap. It repeats the known resource and drilling results; no new information.
2 Sept 2024drilling result▲ GoodMajor
New Woulo Woulo holes, not in the maiden resource, include 186m @ 1.65g/t from 263m (with 7m @ 14.43g/t) and 84m @ 1.73g/t from 280m. Turaco says this points to resource growth at higher grade. Exploration permit drilling has started.
29 Aug 2024security holder rights change● Neutral
7,190,000 performance rights vested after the maiden resource announcement. Holders can exercise them at A$0.001 each into shares, expiring 2025 or 2027. Modest potential dilution; administrative follow-on from the resource.
27 Aug 2024resource reserve update▲ GoodMajor
Turaco announced a maiden Afema resource of 2.52Moz gold: Woulo Woulo 1.25Moz, Jonction 660,000oz and Anuiri 600,000oz, 60% Indicated. It is called interim, with drilling ongoing. This delivers the resource target set when Afema was acquired.
7 Aug 2024investor presentation● Neutral
Diggers and Dealers presentation on Afema shows about 750M shares, a A$0.22 share price and A$165M market cap, with A$18M cash at 30 June. It repeats known drilling and project facts; no new information.
29 July 2024quarterly activities report● Neutral
June 2024 quarter: over 14,000m drilled at Afema, three exploration permits granted and Odienne/Ferke sale to Many Peaks completed. Cash about A$18.2M. Payments to the Afema partner were cut by US$725,000 in exchange for Turaco settling about US$600,000 of legacy tax and creditor positions. Mostly repeats known results.
18 July 2024drilling result▲ Good
Results from 23 more Woulo Woulo holes include 61m @ 1.64g/t from 124m and 87m @ 1.04g/t from 138m, with grade increasing at depth. 60 holes (>8,500m) drilled. Cash was A$18.3M at 30 June; maiden resource due in coming weeks.
1 July 2024regulatory community update▲ GoodMajor
Three Afema exploration permits covering 812km2 were granted, taking the granted project area to 1,040km2. This resolves the pending permit applications. Drilling on them is planned from August 2024; maiden resource still expected in the September quarter.
19 June 2024drilling result▲ Good
Results from 11 more Woulo Woulo holes include 52m @ 1.32g/t from 166m and 54m @ 1.03g/t from 116m, supporting continuity of the deeper northern zone. 50 holes (~7,000m) drilled; maiden resource still targeted for the September quarter. Cash about A$20M.
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.
26 Apr 2024quarterly activities report● Neutral
March 2024 quarter: Afema acquisition completed, initial drill and metallurgy results reported, and cash of about A$6.7M before the US$1.5M (A$2.2M) payment to Endeavour. Northern projects (Odienne, Ferke, Boundiali, Tongon North) were rationalised. Largely repeats known 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.
19 Apr 2024agm notice● Neutral
The 2024 AGM is set for 27 May 2024, with director nominations closing 26 April 2024. Administrative notice only.
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.
