TCG turaco gold limited

Ann: Afema Drilling Continues to Deliver Gold Mineralisation, page-4

  1. 360 Posts.
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    They are still in the exploration stage, having only recently declared a MRE ( of 2.5 million ounces) . Still actively drilling as per this announcement and building up their MR , hopefully to 4 or more million ounces in the next year or too.
    Mining not likely for at least a few years, much permitting and PFS and FS to be done, and licensing. Early days.
    im sure a takeover offer would be welcome if the price is right, hence drill, drill , drill to expand the resource and get a better price. Their exploration success is impressive, they seem to report good hits regularly, so expect increased MRE every 6 months or so.
    as to milling, only a very small amount of metallurgical testwork has been done thus far .
    Like most West African deposits, I expect the ore to be amenable to cyanide leaching at reasonable recovery. A standard CIL plant should do the job. Much more work required to confirm this though.
    once they get a MRE above 4 million ounces, they will attract the attention of the majors and mid-tiers , but more upside is likely in 2025, and beyond.
    i think more likely to be taken over before they build a mine.
    M and A much cheaper for majors than finding a deposit from scratch.
    Lots more blue sky for TCG ahead, though not currently reflected in the share price.

 
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