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Turaco Gold Completes Pre-Feasibility Study for Ivory Coast Project Development; Shares Up 11%

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Turaco Gold (ASX:TCG) completed the pre-feasibility study for the development of the Afema project in the Ivory Coast, outlining a conventional open pit operation with a processing rate of 6 million tonnes per year, according to a Wednesday filing with the Australian bourse.

The project is expected to yield average life-of-mine production of roughly 200,000 ounces per year over a 10.3-year mine life, the filing said.

In the first year, 230,000 ounces is expected to be produced, with an average of about 215,000 ounces per year in the first seven years of production.

A definitive feasibility study is anticipated to be completed over the next nine to twelve months, per the filing.

Shares rose past 11% in midday trade Wednesday.

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