Turaco Moves to Take Full Control of Afema Gold Project
Closing price · 2026-10-27: $0.685 · +0.00%
Turaco has agreed to acquire Sodim’s remaining 20% interest in the Afema project, lifting its ownership to 100% subject to the Côte d’Ivoire government’s 10% interest; the deal is valued at approximately US$79 million and includes cash, shares, options and a royalty. The company plans an equity placement and share purchase plan to fund the acquisition and advance development, while its September-quarter report says the project’s resource estimate is due for an update in the December quarter and the definitive feasibility study is targeted for the second quarter of 2027. Turaco also reported further drilling extensions and ended the quarter with approximately $47 million in cash.