Teranga Gold Corp. (TSX: TGZ) (OTC: TGCDF) reviewed 10-12-2020
Market Cap: $1.9B Share Price: $11.15
Shares outstanding: 167,533,615
Cash: $49.4 M (USD) as of 30 Jun 2020 Credit: Via Societe Generale; no details noted
Debt: $400 M (USD) estimated, as of 30 Jun 2020
Current operations: Yes
Insiders: Approx. 33% Institutional: 77 hold about 35% of the float
Website: terangagold.com
Investor Presentations: https://www.terangagold.com/investors/events-and-presentations/default.aspx
CEO & Director: Richard Young HQs: Toronto, Canada
Canadian gold producer with 241,276 oz gold produced in 2019
Major assets:
– Sabodala-Massawa mine in Senegal. Open-pit, est. reserves 9 M oz
– Wahgnion mine in Burkina Faso – Open-pit, est. reserves 2.9 M oz
– Golden Hill & Gourma, Burkina Faso – exploration
Commercial production started at Wahgnion in Nov 2019
AISC: $988 (USD) per gold ounce as of 30 Jun 2020, stated per the company website as of Jun 2020
AISC increased 23% due to lower grade ores processed at Sabodala
Total Production was 89,011 oz gold for Q2 2020. Guidance for 2020 is 375-400Koz production
Five-year (2021-2025) average annual production est. ~533 Koz at est. AISC of $785/oz
Free cash-flow was $55.3M (USD) in Q2 2020
Earnings Q2 2020: $2.4 M (USD) or 0.01 cents per share
The company was to file a 43-101 by 31 Aug 2020 for the Sabodala-Massawa complex est. total reserves of 4.8 M oz gold via the PFS
Bottom line:
- Some political risk in W. Africa. The company has a streaming agreement with Franco-Nevada
- Co. has two mines in production. May see production increases to about 550,000 oz, Au, in 2021
- No position at present, but may consider it