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Teranga Gold Corp. is a Canadian-based gold company that operates the Sabodala gold mine and holds the largest exploration land package in Senegal, West Africa. Sabodala, which came into operation in 2009, is located 650km east of the capital, Dakar, within the West African Birimian geological belt and about 90km from major gold mines in Mali. Management believes this country to be an emerging world-class gold district and that the combination of its operations and prospective land position, which is all truckable to its existing mill, provides the basis for growth in reserves, production, earnings and cash flow as new discoveries are made.
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Barry Allan, Mackie Research Capital
"Teranga Gold Corp.'s Q1/13 production was a healthy 68.3 Koz at a direct cost of $535/oz, substantially beating our forecast of 54.4 Koz at $554/oz. . .reflecting Q1/13 and the reduction in capital spending had an overall positive impact on NAV, increasing to $3.01 from $2.58 previously. . .we maintain a Buy recommendation."
The Gold Report Interview with Peter Grandich
"There are concerns of its ability to finance given what's happened to its share price, but I suspect [Oromin] could combine with its neighbor Teranga Gold Corp. Teranga would likely be the surviving company. . .this is one of the true rarities where combining is better for both of the companies. . .the outlook for each company is vastly improved if they combine."
Cosmos Chiu, CIBC World Markets
"Teranga Gold Corp. eliminated its hedge book with the delivery of ~45 Koz in Q1/13 and balance of 14,500 oz during the first part of April, all at an average price of $803/oz. We believe the timing of this is quite opportune given the recent drop in gold price. . .with the expansion of the Sabodala mill completed in Q3/12 and now the extinguishment of its gold hedge book, the company is well positioned to leverage its existing infrastructure."
Nicholas Campbell, Canaccord Genuity
"Teranga Gold Corp. produced 214.3 Koz Au in 2012, up from 131.5 Koz Au in 2011 and expects to produce about 200 Koz Au in 2013 at a cash cost of $650 to $700/oz (including royalties). . .the company also announced timing for development of the Gora deposit. . .it expects to receive permits in 2013, allowing for production in the first half of 2014. . .Gora currently hosts a Proven and Probable reserve of 2.1Mt grading 4.22 g/t Au (containing 284 Koz Au)."
Peter Grandich, The Grandich Letter
"My belief is that the logical move is for Teranga Gold Corp. and Oromin Explorations Ltd. to merge. . .never have two companies seemed to need each other and are better off as one versus two separate concerns. . .Oromin appears to be an answer to most if not all of Teranga's questions and, best of all, it is very cheap right now."
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