Turaco Gold (TCG) Q3 2025 TU earnings summary

Executive summary

• Over 20,000m of drilling completed in the September quarter, advancing resource growth and new discoveries at the Afema Project in Côte d'Ivoire.

• High-grade gold intercepts reported at Woulo Woulo, Adiopan, Begnopan, and Baffia, confirming new deposits and extensions.

• Updated Afema Project Mineral Resource Estimate (MRE) increased to 4.06Moz gold, up by over 500,000oz in five months.

• Pre-Feasibility Study (PFS) and Environmental and Social Impact Assessment (ESIA) progressing on schedule.

• Strong financial position with ~$80 million in cash and listed investments at quarter-end.

Financial highlights

• Cash and cash equivalents at 30 September 2025: $76.3 million.

• Listed investments valued at ~$3.5 million.

• Net cash used in operating activities for the quarter: $(6.9) million.

• Net cash from investing activities: $3.2 million, mainly from asset divestments.

• Share Purchase Plan raised $4 million; Many Peaks Ltd shareholding sold for $3.2 million.

Outlook and guidance

• Further MRE update expected in 1Q CY2026, incorporating recent high-grade results.

• PFS completion targeted for 2Q CY2026.

• All rigs to focus on exploration drilling for new discoveries and resource extensions in the upcoming dry season.