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Turaco Gold Ltd ( (AU:TCG) ) just unveiled an announcement.
Turaco Gold Limited has entered into an agreement with Santa Fe Minerals Ltd to divest its interest in the Eburnea Gold Project in Cote d’Ivoire. This move aligns with Turaco’s strategy to focus on its core Afema Gold Project, while retaining a stake in the Eburnea Project through a shareholding in Santa Fe. The transaction involves Turaco receiving 12 million shares and 4 million performance rights in Santa Fe, conditional upon shareholder approvals and an equity raising by Santa Fe. This divestment is part of Turaco’s broader strategy to rationalize its portfolio and generate non-dilutive funding.
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 gold mining industry, focusing on exploration and development projects primarily in Cote d’Ivoire. The company is currently concentrating its efforts on the Afema Gold Project in southern Cote d’Ivoire, while strategically divesting non-core assets to streamline operations and enhance value.
Average Trading Volume: 1,649,568
Technical Sentiment Signal: Buy
Current Market Cap: A$467.8M
For a thorough assessment of TCG stock, go to TipRanks’ Stock Analysis page.