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Turaco Gold Ltd ( (AU:TCG) ) has provided an announcement.
Turaco Gold Limited successfully closed its oversubscribed share purchase plan, raising $4 million through the issuance of approximately 9.1 million shares at $0.44 each. The strong demand led to early closure of the offer, with applications totaling $10 million, far exceeding the targeted amount. This, combined with a $60 million placement to institutional investors, positions Turaco with over $85 million in cash to accelerate exploration and feasibility work at the Afema Project, enhancing its financial stability and operational capabilities.
The most recent analyst rating on (AU:TCG) stock is a Buy with a A$0.70 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.
More about Turaco Gold Ltd
Turaco Gold Limited operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in advancing the Afema Project in south-east Cote d’Ivoire, which has a significant gold resource.
YTD Price Performance: 96.08%
Average Trading Volume: 1,596,671
Technical Sentiment Signal: Buy
Current Market Cap: A$520.7M
For detailed information about TCG stock, go to TipRanks’ Stock Analysis page.