Capital Financing
Turaco Gold secures firm commitments for A$120 million placement at A$0.60 per share
Amount raised
A$120 million (before costs)
Issue price
A$0.60 per share
Securities issued
Approximately 200 million new shares
Settlement or listing date
Tranche 1 settles Wednesday, 4 November
Summary
Turaco Gold Limited has received firm commitments for a two-tranche institutional placement to raise A$120 million (before costs) at A$0.60 per share. The Placement comprises approximately 200 million new fully paid ordinary shares, with an unconditional Tranche 1 of A$97.1 million and a conditional Tranche 2 of A$23 million subject to shareholder approval. The company also intends to undertake a share purchase plan to raise up to A$10 million at the same price, for a total proposed equity raising of up to A$130 million, as stated by the company. The company states the proceeds are intended to fund the upfront cash consideration for acquiring the remaining 20% interest in the Afema Gold Project, along with development activities, DFS workstreams and exploration.
Offer terms
| Term | Detail |
|---|---|
| Instrument | New fully paid ordinary shares, ranking equally with existing ordinary shares |
| Tranches | Tranche 1: unconditional, A$97.1 million via approximately 161.8 million Placement Shares, using the Company’s available placement capacity under ASX Listing Rules 7.1. Tranche 2: conditional, A$23 million via approximately 38.2 million Placement Shares to select institutional investors |
| Price | A$0.60 per share |
| Discount | 12.4% discount to the closing price of A$0.685 on 26 October 2026; 13.1% discount to the 5-day volume weighted average price of A$0.690 up to and including 26 October 2026 |
| Shareholder approval | Tranche 2 is subject to shareholder approval to be sought at the Company’s Extraordinary General Meeting to be held in early December 2026 |
| Share purchase plan | Eligible Shareholders registered at 7:00pm (Sydney time) on Wednesday, 28 October 2026 with a registered address in Australia or New Zealand may subscribe for up to A$30,000 of new shares at the Placement Price. The SPP seeks to raise up to A$10 million before costs, with the ability to accept oversubscriptions |
Use of proceeds
- the upfront cash consideration under the Acquisition;
- expected buy-back of the residual 0.33% royalty to be issued to Sodim pursuant to the Acquisition;
- pre-FID development activities including detailed engineering and, subject to environment permit, mining camp construction and site earthworks;
- DFS workstreams, with a DFS expected in Q2 CY2027;
- ongoing exploration activities; and
- working capital, corporate overheads and costs of the Equity Raising.
Timetable
| Tuesday, 27 October 2026 | Acquisition and Equity Raise announced, trading halt |
|---|---|
| Wednesday, 28 October 2026 | SPP record date (7:00pm) |
| Thursday, 29 October 2026 | Announcement of completion of Placement, trading recommences |
| Monday, 2 November 2026 | SPP offer booklet dispatched, SPP opens |
| Wednesday, 4 November 2026 | Settlement of Tranche 1 Placement Shares |
| Thursday, 5 November 2026 | Allotment, quotation and trading of Tranche 1 Placement Shares under the Placement |
| Monday, 16 November 2026 | SPP closes |
| Thursday, 19 November 2026 | Allotment of SPP Shares |
| Early December 2026 | EGM to approve issue of Consideration Securities and Tranche 2 Placement Shares |
| Mid December 2026 | Completion of Acquisition, issue of Consideration Securities and Tranche 2 Placement Shares |
Dates are indicative and subject to change, per the company.
Source: Turaco Gold announcement dated 29 October 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
