Turaco Gold (ASX:TCG) has an estimated AU$16 million in cash and is well-funded for its ongoing exploration programs, according to a Wednesday note from Euroz Hartleys.
The company received results for five diamond holes drilled at its Afema gold project in the Ivory Coast, with the gold grade appearing to improve at depth and well above the current resource grade.
The company completed drilling at Herman Mine near Afema and continues to drill at Jonction.
Euroz Hartleys has a speculative buy rating on Turaco Gold and a AU$0.58 price target.
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