Each one in plain English, with the numbers worked through for a shareholder.
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.
29 Jan 2024quarterly activities report▲ Good
December 2023 quarter: Afema agreements signed, A$6.6M placement completed, Rob Seed appointed COO, and cash just over A$8M. Government approval expected in the March quarter. Minor drilling at Bouake North (6m @ 1.65g/t) and Tongon North.
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.
31 Oct 2023quarterly activities report● Neutral
September 2023 quarter: the maiden 5,149m Odienne South program found a continuous >1g/t zone over 1,200m (e.g. 12m @ 1.18g/t), already reported. Soil sampling at Satama awaits results. Cash about A$3.24M; due diligence continues on an unnamed Ivorian project.
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.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: recaps Satama western aircore (best 15m @ 1.04g/t), Odienne auger and the start of drilling, and the Natogo auger trend. Completion of the A$3.75M placement is noted. Ferke auger is expected to start in August 2023. No new results.
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.
26 Apr 2023quarterly activities report● Neutral
March 2023 quarter: recaps Satama's 26m @ 4.82g/t and the 3km western structure; 4,500m aircore under way with about 3,000m done. Odienne auger completed and the Nambira permit (395km2) granted at Tongon North. Cash fell to about A$2.5M from A$3.85M.
18 Apr 2023agm notice● Neutral
The 2023 AGM is set for 26 May 2023, with director nominations closing 26 April. Administrative notice. Header shows cash of about A$2.5M at March 2023 and a 6.8c share price.
31 Mar 2023annual report● Neutral
Annual report for the year to 31 December 2022, recapping Satama as the highlight (over 30,000m drilled, 2km continuous gold, a second 3km structure). Financial detail is not visible in the text provided.
31 Mar 2023annual report● Neutral
Appendix 4G for the year to 31 December 2022, pointing to the corporate governance statement on pages 65 to 76 of the annual report. Administrative compliance filing; no new operational or financial information.
25 Jan 2023quarterly activities report● Neutral
December 2022 quarter: recaps the Satama 26m @ 4.82g/t RC result, Tongon North auger trend and Odienne work. Cash was A$3.85M, down from about A$5.5M in September. No new results.
23 Jan 2023drilling result▲ GoodMajor
Auger drilling west of the main Satama trend confirmed a second mineralised structure over 3km, with up to 13.6g/t gold, about 1km from the drilled zone. Resolves pending auger assays; aircore follow-up planned. Maiden Odienne auger drilling has begun.
10 Jan 2023drilling result▲ GoodMajor
Twelve follow-up RC holes at Satama included 26m @ 4.82g/t from 35m, the best intersection there to date, in a parallel structure open to the south. Confirms high-grade shoots along the 2km drilled strike; western auger assays pending.
6 Jan 2023director officer appointment● Neutral
Susmit Shah stepped down as joint company secretary from 31 December 2022, leaving Lionel Liew as sole company secretary (listed as CFO/Company Secretary). Administrative change; cash was A$3.85M at 31 December.
30 Nov 2022drilling result▲ Good
Geophysics and soil sampling at Odienne South (76% effective interest) show a ~10km gold-in-soil anomaly within a 30km trend, with auger drilling planned. Early-stage, no drilling results yet; a new target area beyond Satama.
28 Nov 2022drilling progress report● Neutral
Drilling has restarted at Satama after the wet season, with one RC rig testing high-grade shoots and an auger rig testing western IP structures. Fulfils the planned November restart; no new assay results. New aeromagnetics are being used for targeting.
27 Oct 2022quarterly activities report● Neutral
September 2022 quarter: recaps Satama IP and aircore results and the Tongon North auger trend. Cash fell to about A$5.5M from about A$9M at June. RC drilling at Satama is to resume in early November.
