Turaco Gold Secures AU$60 Million in Oversubscribed Placement to Advance Afema Project.

Turaco Gold Limited (ASX: TCG) has successfully raised approximately AU$60 million through a placement priced at AU$0.44 per share, receiving overwhelming interest from tier-one institutional investors. The funds will accelerate the growth and development of the Afema Gold Project, including ongoing resource drilling, exploration along the 30km Afema Shear, regional expansion across 1,600km², and feasibility studies. The company also plans to offer a Share Purchase Plan (SPP) to raise up to AU$4 million at the same price for eligible shareholders.

Following the placement, Turaco will hold a proforma cash balance exceeding AU$83 million, excluding proceeds from the SPP. The strong institutional support underscores confidence in Afema’s 3.6Moz gold resource and future potential. The placement was managed by Canaccord Genuity, Argonaut Securities, SCP Resource Finance, and Morgans. This capital raise positions Turaco to rapidly advance exploration and development while maintaining financial flexibility.

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