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Highlights

  • Turaco Gold climbs after 40% upgrade in its Afema Project gold resource estimate
  • Barton Gold rallies on improved scoping study extending mine life and lowering capital costs
  • Both stocks defy broader market dip amid increased investor interest in project developments

While the All Ordinaries Index (ASX: XAO) trades in the red today, two ASX-listed gold stocks are moving firmly in the opposite direction. Shares in Turaco Gold Ltd (ASX: TCG) and Barton Gold Holdings Ltd (ASX: BGD) are both surging on the back of key project updates.

Turaco Gold shares are up 4.8% in late morning trading, priced at 44 cents. That marks a gain of over 130% year-on-year. The uptick follows Turaco’s release of an updated JORC Mineral Resource Estimate (MRE) of 3.55 million ounces at its Afema Project in Côte d'Ivoire. This represents a more than 40% increase over its maiden estimate from August 2024 and comes with a higher average grade.

Notably, the new MRE does not yet include recent drill results from several nearby prospects, suggesting room for further updates. The deposits also remain open, indicating exploration potential beyond the current estimates. A pre-feasibility study (PFS) is now set to commence, according to the company.

Meanwhile, Barton Gold shares have gained 7.5% in Monday trading, now sitting at 50 cents apiece. That places the stock up 100% for the calendar year. The latest share price action follows the release of an Optimised Scoping Study (OSS) for the Tunkillia Gold Project in South Australia.

The study outlines operational changes that extend the project's estimated life from eight to approximately ten years. It also forecasts a reduction in initial capital expenditure by $35 million and a 13% rise in payable gold output. The OSS is based on refined assumptions from the company’s earlier scoping work completed in mid-2024.

Investors appear to be responding to the revised project economics and increased scale potential at both companies. Despite the market-wide pullback, Turaco and Barton are attracting attention through their asset updates and ongoing project development plans.