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Turaco Gold Advances Afema Gold Project with Strong Pre-Feasibility Results
Turaco Gold has successfully completed its Pre-Feasibility Study for the Afema Gold Project, revealing promising projections of approximately 200,000 ounces of gold production annually over a span of 10.3 years.
The study outlines a capital expenditure of US$410 million, which positions the project favorably amid a bullish sentiment in the gold market, as indicated by an adjusted sentiment score of 88. This high score reflects current market dynamics characterized by extreme greed, suggesting robust investor confidence in gold assets. The analysis further estimates an Internal Rate of Return (IRR) of around 60% at a gold price of US$3,000 per ounce, reinforcing the project's economic viability. Looking ahead, the definitive feasibility study is anticipated in 2027, with first gold production targeted for 2029.
The increasing coverage of 92 in discussions surrounding gold projects indicates a growing interest among investors, aligning with the upward momentum observed in the sector.