Turaco Gold Limited has reported significant improvements in its metallurgical test work across the Afema Project in southeastern Côte d’Ivoire. The recent tests on deposits including Jonction, Anuiri, Asupiri, and Woulo Woulo have demonstrated enhanced gold extraction rates, with average overall gold leach extractions now in the 84–90% range at Jonction, Anuiri, and Asupiri. The company also reported that the Woulo Woulo deposit is achieving extraction rates between 87% and 95% through conventional grinding (P80 of 75µm) and leaching, even with low cyanide consumption levels—ranging from 0.49kg/t to 0.58kg/t of ore feed. The technical work highlights a range of processing methods including flotation of low-mass recovery concentrates, ultra-fine grinding, oxidative leaching, and subsequent cyanide leaching. For example, Jonction test work produced a flotation gold recovery averaging 93.9% with overall gold extractions from composites reaching as high as 92.6%. Similar methodologies at Anuiri and Asupiri allowed for high recoveries with low-grade variations addressed through optimization studies. Bond Ball Mill Work Indices for the various deposits ranged from approximately 12.9 kWh/t to 16.7 kWh/t, characterizing the ores as ‘medium’ to ‘medium-hard’. The independent review by a seasoned metallurgical consultant affirmed the process as logical and the results as excellent, with the expectation that further reagent and process optimisation will push recoveries even higher. Management emphasized that these improved recoveries not only enhance the overall economics by reducing both capital and operating costs through low mass concentrate processing, but they also pave the way for an updated maiden JORC Mineral Resource Estimate. The current estimate of 2.52Moz, which covers the Woulo Woulo, Jonction, and Anuiri deposits, is set to grow with the imminent inclusion of the Asupiri deposit and further drilling results. Bullish sentiment emerges from the strong technical performance and the positive independent review, which suggest that the project’s production efficiency is improving. The favourable extraction percentages and the projected resource expansion may translate to stronger future earnings and lower processing costs, casting a positive light on the company’s development profile. Bearish considerations remain in the need for ongoing optimisation and variability testing. Some lower recoveries under non-ideal conditions, such as the 76.7% extraction noted in one of the Anuiri composites, indicate that further refinement is required. Overall, however, the technical advancements and methodical approach to addressing process variability represent a promising step forward in enhancing project economics and resource confidence.