Turaco Gold (TCG) Noosa Mining Conference 2026 summary

Project overview and resource growth

• Afema Project targets annual gold production of 200,000 oz over 10 years, with 2.3 million oz mining inventory and front-loaded ounces in early years.

• Resource base has grown to nearly 5 million oz, with ongoing infill and step-out drilling supporting rapid expansion.

• Six open pit deposits form the core, with Woulo Woulo as the largest, supplemented by higher-grade satellite deposits.

• Significant growth potential remains along the Afema Shear and Sefwi Belt, with multiple underexplored targets.

• Resource updates occur every six months, adding approximately 100,000 oz per month.

Economic highlights and financials

• PFS at $2,000/oz gold price yields AISC of $1,500/oz, after-tax NPV of $2.1 billion at $3,500/oz, and annual free cash flow of $400 million.

• Pre-production CapEx totals $450 million, with a 10-month payback at $4,000/oz and IRR near 100%.

• Processing plant designed for 6 million tons per annum, with 87% recovery and consistent cash flows.

• Institutional shareholders hold 40%, with management at 6%, and analyst price targets 2–3x current share price.

• Market cap is around AUD 600 million, with over AUD 50 million in cash supporting aggressive drilling.

Project location and operational advantages

• Located 100 km from Abidjan, with access to hydropower and sealed roads, and no security or relocation issues.

• Côte d'Ivoire is politically stable, mining-friendly, and economically diverse, making it a top jurisdiction.

• All deposits are near surface, minimizing pre-stripping and enabling efficient mine planning.

• No village relocations required, and proximity to high-voltage grid enhances project economics.

• Site access is excellent, with plant location just 5 km from a major road.