There is a lot to like here, with lots of news on the horizon.
The market’s gaze seems to have shifted elsewhere for now, but that is fine. It will return, I think.
Some highlights for me:
- 5 quarters of funding left, so plenty of time to drill and find more stuff before another CR. Excess of $48m cash.
- Drilling has been ramped up: 1 x RC drill rig on site for exploration drilling along the Nianemlessa trend and at Affeniou with“initial results expected shortly.”
- Second diamond drill arriving “in the coming days” with a 4th drill rig expected on site “in January 2025.”
- Soil sampling and trenching/pitting was undertaken in the Sept quarter “at Bafia, Katoka and along the Jonction-Toilesso trend.” All of these areas “are expected to see drilling during the December Quarter.”
- Planned IP surveys along strike at Jonction deposit.
- Drilling begun at Jonction.
- Renewing exploration licences for Eburnea Gold Project.
- What’s really interesting is the potential at the Herman Mine – which seems to run parallel to the Woulo Woulo deposit and has “directly comparable mineralisation”:
Figure 3 gives a good idea of the Afema Project and its targets. The company states that all the upcoming drilling targets “sit within 10km of the initial MRE deposits.”:
MRE update targeted for March 2025 quarter.
- Onwards and (hopefully) upwards!
TCG Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
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