Côte d'Ivoire

Côte d'Ivoire

Continues to be considered a prolific untapped frontier for gold with more than one-third of the West African Birimian Greenstone Belt within the country's borders

Overview

Teranga first entered Côte d’Ivoire in 2016 through a joint venture agreement with its cornerstone shareholder, Tablo Corporation. The agreement covers several greenfield exploration permits, including: Guitry, Sangaredougou and Dianra.

In December 2017, Teranga entered into a joint venture with Sodim Limited, a private investment company, relating to the exploration and development of the Afema land package in southeast Côte d’Ivoire.

The addition of these joint venture assets to Teranga’s growth pipeline is an important step towards delivering on the Company’s vision of becoming a multi-asset mid-tier West African gold producer.

Teranga’s 2020 exploration budget for Côte d’Ivoire is $5 million to $10 million which majority will be spent on advancing the Afema project. Based on the positive exploration results at Afema, the Company expects exploration spend at the higher end of the guidance range.