Turaco Gold (TCG) H1 2025 earnings summary

Executive summary

• Net loss after tax for the half year ended 30 June 2025 was $10.9 million, compared to a $6.6 million loss in the prior year period.

• Net assets increased by $57.5 million during the half year, with cash position rising to $75.9 million from $32.9 million at 31 December 2024.

• Principal focus remains on the Afema Project in Côte d'Ivoire, with an 80% interest and significant exploration and development activities.

Financial highlights

• Cash and cash equivalents at 30 June 2025 were $75.9 million, up from $32.9 million at year-end 2024.

• Net loss after tax was $10.9 million, up from $6.6 million loss in the prior year period.

• Share placement raised $60 million before costs, with an additional $4 million raised via a Share Purchase Plan.

• Listed investments valued at approximately $4 million at period end, with disposals generating $1.1 million and $3.2 million in cash proceeds.

Outlook and guidance

• Pre-Feasibility Study (PFS) for the Afema Project commenced, targeting completion in H1 2026.

• Environmental and social impact assessment underway, with draft submission targeted for mid-2026 and final by year-end 2026.

• Ongoing drilling and exploration expected to support further resource growth and MRE update by end of 2025.