Turaco Gold Limited (ASX: TCG) raises A$60 million to accelerate development at its Afema Gold Project.

Argonaut acted as Joint Lead Manager and Joint Bookrunner to the placement, which was significantly oversubscribed with strong support from tier-one global and domestic institutional investors.

Proceeds will fund ongoing drilling to grow and upgrade the current 3.6Moz Mineral Resource, advance high-priority targets along the +30km Afema Shear, ramp up regional exploration across the broader 1,600km² land package, and support feasibility workstreams. The raise positions Turaco with over $83 million in cash, excluding a planned $4 million SPP.

Congratulations to Managing Director Justin Tremain and the Turaco team on this milestone and thank you to the Argonaut team led by Eddie Rigg, Kaiden Gilbert, Max Carter-Mazak and Michael Paganin, with ECM syndication directed by Josh Welch.