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Turaco Gold Ltd (AU:TCG)
ASX:TCG
Australian Market

Turaco Gold Ltd (TCG) AI Stock Analysis

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AU:TCG

Turaco Gold Ltd

(Sydney:TCG)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
AU$0.73
â–˛(1.94% Upside)
Overall score reflects weak financial fundamentals (pre-revenue, widening losses, and ongoing cash burn) partially offset by a clean, debt-free balance sheet. Technicals are a positive near-term factor with price above major moving averages and positive MACD, but valuation remains constrained by lack of earnings (negative P/E) and no dividend support.

Turaco Gold Ltd (TCG) vs. iShares MSCI Australia ETF (EWA)

Turaco Gold Ltd Business Overview & Revenue Model

Company DescriptionTuraco Gold Limited engages in the acquisition, exploration, and development of gold deposits in Cote d'Ivoire. It holds interest in the Eburnea gold project that covers two granted permits covering 690 square kilometers in central CĂ´te d'Ivoire; and the Tongon north project that consists of four granted exploration permits and one exploration permit application covering an area of 1,540 square kilometers located in the Senoufo greenstone belt in northern CĂ´te d'Ivoire. The company also holds interest in the Boundiali gold project that consist of a granted exploration permit covering an area of 223 square kilometers; and the Ferke gold project that comprises an exploration permit covering an area of 300 square kilometers located in northern CĂ´te d'Ivoire. In addition, it holds interest in the Odienne project, Oume gold project, and Molonou gold project. The company was formerly known as Manas Resources Limited and changed its name to Turaco Gold Limited in July 2021. Turaco Gold Limited was incorporated in 2007 and is based in West Perth, Australia.
How the Company Makes Money

Turaco Gold Ltd Financial Statement Overview

Summary
High-risk financial profile: the company is pre-revenue with widening losses (net loss about -13.2M in 2024 vs. -5.0M in 2023) and sustained negative operating/free cash flow (2024 OCF about -10.2M; FCF about -12.5M). A key offset is a very low-leverage, effectively debt-free balance sheet, but ongoing cash burn implies continued external funding and dilution risk.
Income Statement
12
Very Negative
The company remains pre-revenue (revenue is 0 across all reported years), with persistent losses. Profitability deteriorated materially in 2024 as net loss widened to about -13.2M (vs. -5.0M in 2023), and operating losses are consistently negative, indicating ongoing funding dependence until commercial production or monetization.
Balance Sheet
68
Positive
Balance sheet leverage is very low to effectively debt-free (2024 total debt at 0; debt-to-equity near 0 in all years), which is a clear strength and reduces solvency risk. However, returns on equity are consistently negative (2024 ROE about -23%), reflecting that capital is not yet generating profits and dilution/financing risk remains typical for an early-stage gold company.
Cash Flow
22
Negative
Cash generation is weak, with operating cash flow and free cash flow negative every year (2024 operating cash flow about -10.2M; free cash flow about -12.5M). While free cash flow volatility includes a very large reported growth rate in 2024 (off a negative base), the core picture is continued cash burn, meaning execution likely requires ongoing external funding.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-71.31K0.00-137.58K-121.36K-126.88K-56.19K
EBITDA-9.37M-16.54M-4.20M-10.51M-5.06M-1.22M
Net Income-7.14M-13.18M-4.98M-10.41M-5.06M-1.28M
Balance Sheet
Total Assets114.62M69.35M9.62M5.50M18.18M8.45M
Cash, Cash Equivalents and Short-Term Investments79.94M34.02M8.07M3.85M13.87M5.33M
Total Debt0.000.0030.52K67.41K150.86K0.00
Total Liabilities2.07M14.34M807.44K1.50M991.74K360.63K
Stockholders Equity116.19M56.59M9.25M4.36M17.19M8.09M
Cash Flow
Free Cash Flow-5.85M-12.53M-5.65M-10.05M-3.80M-1.91M
Operating Cash Flow-5.80M-10.19M-5.65M-9.90M-1.60M-404.36K
Investing Cash Flow-12.63M-14.84M20.00K-175.06K-3.27M-1.51M
Financing Cash Flow89.45M50.14M9.76M113.06K13.41M495.64K

Turaco Gold Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
* Basic Materials Sector Average
Performance Comparison

Turaco Gold Ltd Corporate Events

Turaco Gold Builds Momentum at Afema with High-Grade Drilling and Resource Growth
Jan 29, 2026

Turaco Gold reported strong progress at its Afema Project during the December 2025 quarter, where five drill rigs advanced both resource definition and discovery-focused exploration. The project’s Mineral Resource Estimate was recently increased to 4.06 million ounces of gold across six deposits, and drilling at key prospects such as Woulo Woulo, Herman, Adiopan, Anuiri and Jonction delivered broad, continuous and, in several cases, high-grade intercepts that are expected to drive further resource growth and improved confidence in the upcoming Afema pre-feasibility study update. Management is now shifting drilling more heavily toward discovery outside the current resource footprint, particularly at Adiopan and along regional trends including Baffia, Kotoka and the Niamienlessa–Affienou corridor, positioning Turaco for substantial resource expansion and potential value uplift as it targets completion of the Afema PFS in the first half of 2026.

The most recent analyst rating on (AU:TCG) stock is a Hold with a A$0.84 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold Issues 1.6 Million Unquoted Performance Rights Under Employee Scheme
Jan 15, 2026

Turaco Gold Limited has issued 1.6 million unquoted performance rights under its employee incentive scheme, effective 12 January 2026. The new securities, which will not be quoted on the ASX, are designed to reward and retain staff and align employee interests with those of shareholders, signalling ongoing use of equity-based remuneration as part of the company’s capital and workforce management strategy.

The most recent analyst rating on (AU:TCG) stock is a Hold with a A$0.81 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold’s Afema Drilling Bolsters Resources at Anuiri and Jonction
Jan 6, 2026

Turaco Gold has reported final assay results from resource and metallurgical drilling at the Anuiri and Jonction deposits within its Afema Gold Project, confirming strong gold intercepts and improving confidence in the existing mineral resource models. The infill and extension drilling, aimed at upgrading Inferred resources to at least Indicated status and testing down-dip extensions at Anuiri, is expected to deliver modest mineral resource growth that will feed into an updated mineral resource estimate for incorporation into the ongoing Afema pre-feasibility study. With mineralisation at both deposits starting from surface and remaining open in all directions, and additional drilling in progress at exploration targets such as Adiopan, Baffia, Kotoka and along the Niamienlessa-Affienou trend outside the current 4.1Moz resource base, the results underscore Turaco’s potential to expand its resource inventory and strengthen the project’s long-term development profile.

The most recent analyst rating on (AU:TCG) stock is a Hold with a A$0.85 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold Advances Exploration with Promising Drilling Results at Afema Project
Dec 1, 2025

Turaco Gold Ltd has announced significant progress in its exploration and drilling activities at the Woulo Woulo and Herman prospects, part of the Afema Project in West Africa. The drilling results have shown higher-grade gold mineralization, enhancing the confidence in the resource models and potentially improving the project’s economic viability. The company is also advancing its Pre-Feasibility Study (PFS) for the Afema Project, with various drilling and testing activities underway, aiming for a resource update by Q1 2026. These developments are expected to strengthen Turaco Gold’s position in the gold mining industry and provide substantial benefits to stakeholders.

The most recent analyst rating on (AU:TCG) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold to Host Investor Briefings Amid Promising Project Developments
Nov 13, 2025

Turaco Gold Limited announced that it will conduct a series of investor briefings starting the week of November 17, 2025. This initiative is part of their strategy to engage with investors and provide updates on their operations, including the promising developments at the Afema Gold Project, which has a resource estimate of 4.1 million ounces, potentially enhancing the company’s position in the gold mining sector.

The most recent analyst rating on (AU:TCG) stock is a Buy with a A$1.63 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold Ltd Issues 800,000 New Securities on ASX
Nov 7, 2025

Turaco Gold Ltd has announced the issuance of 800,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code TCG. This move is part of the company’s strategy to enhance its market presence and potentially increase its capital base, reflecting a proactive approach to leveraging financial markets for growth.

The most recent analyst rating on (AU:TCG) stock is a Buy with a A$1.63 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold Issues New Shares Following Option Exercise
Nov 7, 2025

Turaco Gold Limited has announced the issuance of 800,000 ordinary shares following the exercise of unquoted options at $0.12 each. This move, made without a disclosure to investors under Part 6D.2 of the Corporations Act, reflects the company’s compliance with relevant legal provisions and suggests a strategic step in enhancing its capital structure.

The most recent analyst rating on (AU:TCG) stock is a Buy with a A$1.63 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Turaco Gold Reports Significant Exploration Progress and Financial Strength
Oct 31, 2025

Turaco Gold Limited reported significant progress in its exploration activities during the September 2025 quarter, particularly in the Afema Project in Côte d’Ivoire. The company achieved high-grade discoveries at several sites, including Adiopan and Begnopan, and updated its Mineral Resource Estimate to 4.06 million ounces of gold. Turaco also completed a successful share purchase plan and divested its Eburnea Gold Project, strengthening its financial position with $80 million in cash and investments, allowing it to focus on the Afema Project.

The most recent analyst rating on (AU:TCG) stock is a Buy with a A$1.63 price target. To see the full list of analyst forecasts on Turaco Gold Ltd stock, see the AU:TCG Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 04, 2026