Stocks of the Hour: Turaco Gold, Calidus Resources, Leaf Resources

Turaco Gold Limited’s (ASX:TCG) RC drilling program has delivered excellent results, confirming good continuity, with high-grade plunging shoots. In response, Managing Director, Justin Tremain commented: “We look forward to receiving and reporting results from the reconnaissance, which, if positive, would show substantial growth potential at Satama.” Shares are trading 10.3 per cent higher at 6 cents.

Calidus Resources (ASX:CAI) is pleased to declare commercial production at their gold project. The processing plant is now operating at nameplate capacity. Calidus Managing Director Dave Reeves said: “We are very pleased to have achieved commercial production and positive cash flow from the operations for the month. We are now focussing on fine tuning operations to increase throughput rates and production and we look forward to releasing guidance later this month.” Shares are trading 10.5 per cent higher at 37 cents.

Leaf Resources (ASX:LER) has received a signed non-binding Letter of Intent from Formosa Plastics Group for offtake of 300,000 tonnes per annum of premium wood pellets. Construction of the initial pine chemicals plant to be located at Rotorua, New Zealand is expected to commence in Q1 2023 and targeted to be operational by Q4 2023. Shares are trading 13.6 per cent higher at 3 cents.
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Source: Finance News Network