The Assay TV spoke with Richard Young, President, CEO & Director at Teranga Gold (TSX:TGZ) about their recent production results, upgraded guidance and mine expansion and development plans.
Teranga Gold (TSX:TGZ/OTCQX:TGCDF) is a Canadian-based gold producer and has two operating gold mines in West Africa. The flagship Sabodala mine has produced approximately 2Moz of a gold since Teranga’s December 2010 IPO. Wahgnion, the Company’s newest mine, has delivered mill throughput above design capacity and production above plan since achieving commercial production in November 2019.
Teranga is integrating Sabodala with the recently acquired high-grade Massawa Gold Project. Processing Massawa ore through the nearby Sabodala mill is expected to commence in Q4 2020. Once combined, Sabodala-Massawa is expected to significantly increase Teranga’s reserves, production and cash flow starting in 2020.
Teranga has budgeted $35M in 2020 to explore and drill the attractive portfolio of early to advanced-stage exploration assets and near-mine exploration targets at its two operations.
Primary ticker: TSX:TGZ; OTCQX: TGCDF
Stage of development: Exploration, Development, Production
Project to promote: Sabodala-Massawa Gold Complex, Wahgnion Gold Mine and Golden Hill Exploration Project
Project location: Burkina Faso, Senegal, Côte d’Ivoire