Summary of Turaco Gold (TCG) Conference Call - July 23, 2025 Company Overview - **Company**: Turaco Gold (TCG) - **Industry**: Gold mining in West Africa - **Project**: Afema gold project, significant undeveloped gold project in West Africa with a resource of **3,600,000 ounces of gold** [1][5] Key Points and Arguments - **Resource Growth**: The company plans to increase its resource significantly over the next six months, with regular updates every six months [2] - **Funding Status**: Turaco Gold has secured over **$80,000,000** in funding, allowing for extensive drilling of **10,000 meters per month** [3][6] - **Shareholder Support**: The company has a loyal shareholder base, with many investors following the management team across multiple successful ventures [3] - **Market Capitalization**: The market cap has increased from approximately **$30 million** to around **$450 million** since acquiring the Afema project [6] - **Geographical Advantage**: The project is located in Côte d'Ivoire, which is noted as the preferred country in West Africa for gold mining due to its strong economy, excellent infrastructure, and safety [7][8] - **Infrastructure**: The project benefits from proximity to a new paved highway and access to competitively priced hydroelectric power at around **$0.13 per kilowatt hour** [9][10] Geological Insights - **Exploration Area**: The project covers **1,600 square kilometers**, primarily within the Sefwe Greenstone Belt, with a granted mining permit covering **220 square kilometers** [12][13] - **Deposit Details**: The resource consists of four main deposits, with the Woolooulu deposit containing **1,600,000 ounces** at about **1 gram per tonne** [15][21] - **High-Grade Deposits**: Other deposits include Junction (600,000 ounces at 2 grams), Inuri (500,000 ounces at 1.7 grams), and Asapiri (800,000 ounces) [16][26] - **Drilling Results**: The company has reported high-grade drilling results and is optimistic about further discoveries, with many deposits open at depth [17][28] Future Plans - **Resource Updates**: Regular updates on resource growth are expected, with a Preliminary Feasibility Study (PFS) due early next year and a Definitive Feasibility Study (DFS) by the end of next year [33] - **Development Timeline**: The company aims to develop the project by early **2027**, anticipating a larger resource than the current **3,600,000 ounces** [33] Market Position - **Valuation Comparison**: Current market cap is around **$400 million**, with potential for significant upside as comparable projects in the region are valued at over **$1 billion** [32] - **Investment Potential**: The company is positioned favorably within the industry, with a strong resource base and supportive infrastructure compared to peers [32][33] Additional Insights - **Security and Safety**: The project area has no security issues, enhancing operational confidence [7][11] - **Environmental and Community Factors**: The company has no impediments regarding environmental or community issues for developing the mine [13] This summary encapsulates the key aspects of Turaco Gold's conference call, highlighting the company's strategic position, resource potential, and future growth plans in the gold mining sector.