Turaco Gold's divestment of Boundiali Permit

Turaco Gold Limited (ASX: $TCG) has signed a binding term sheet with Aurum Resources Ltd for the divestment of the Boundiali exploration permit in northern Cote d'Ivoire. The consideration payable is $0.8 million cash or up to A$1.2 million in Aurum shares. The funds received from this divestment will be utilized for the Afema Gold Project in southeast Cote d'Ivoire. The divestment aligns with Turaco's focus on the Afema Gold Project and the Eburnea Gold Project in central Cote d'Ivoire.

Managing Director's perspective on divestment

The divestment of the Boundiali Permit is consistent with Turaco's previously stated intention to rationalize its exploration position in Cote d'Ivoire and focus on the Afema Gold Project in the southeast and the Eburnea Gold Project in central Cote d'Ivoire. The funds realized from these divestments provide non-dilutive funding for Afema.

Summary of Turaco Gold's divestment and outlook

Turaco Gold Limited (ASX: $TCG) has entered into a binding term sheet with Aurum Resources Ltd for the divestment of the Boundiali exploration permit in northern Cote d'Ivoire. The consideration for the divestment is $0.8 million cash or up to A$1.2 million in Aurum shares. The funds received from this divestment will be utilized for the Afema Gold Project in southeast Cote d'Ivoire. The divestment aligns with Turaco's focus on the Afema Gold Project and the Eburnea Gold Project in central Cote d'Ivoire. Managing Director, Justin Tremain, emphasized that the divestment is in line with the company's strategy to rationalize its exploration position and provide non-dilutive funding for Afema. The company's focus on these key projects reflects its commitment to advancing its gold projects in Cote d'Ivoire.