14:00 | 30.03.2016
Teranga Gold to Present at The John Tumazos Very Independent Research Metals & Natural Resources Conference
TORONTO, ONTARIO–(Marketwired – March 30, 2016) – Richard Young, President and Chief Executive Officer of Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ)(ASX:TGZ) is scheduled to present at the John Tumazos Very Independent Research Metals & Natural Resources Conference at 1:00 p.m. ET on Thursday, March 31, 2016. The conference will take place at the Westin Grand Central Hotel in New York City. A live webcast of Mr. Young’s presentation and slides for simultaneous viewing will be available on Teranga’s website at www.terangagold.com/events.
During the Company’s presentation, Mr. Young will provide a brief update on the first quarter of 2016, which is on track to deliver the Company’s strongest production since the fourth quarter of 2014, and highlight Teranga’s key strengths:
— A large long-life reserve base with annual gold production averaging
As well, Mr. Young will highlight the compelling investment opportunity Teranga offers with its current share price trading at about one-third of the average net asset value multiple of medium producers(4) based on the Company’s updated cash flow profile in the NI 43-101 Technical Report filed last week.
1. Total cash costs figures are calculated in accordance with a standard
2. Cash flow is the LOM net cash flow based on the Company’s most recent NI
3. Pro forma cash is a non-IFRS measure and combines the Company’s cash and
4. The net asset value (“NAV”) per share is a Non-IFRS financial measure.
Forward Looking Statements
This release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Teranga, or developments in Teranga’s business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, all disclosure regarding possible events, conditions or results of operations, future economic conditions and courses of action, the proposed plans with respect to mine plan, anticipated 2016 results, mineral reserve and mineral resource estimates, anticipated life of mine operating and financial results, and the completion of construction of the Gora deposit related thereto. Such statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant. These assumptions include, among other things, the ability to obtain any requisite Senegalese governmental approvals, the accuracy of mineral reserve and mineral resource estimates, gold price, exchange rates, fuel and energy costs, future economic conditions and courses of action. Teranga cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in the revised Company’s Annual Information Form dated September 1, 2015, and in other company filings with securities and regulatory authorities which are available at www.sedar.com. Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities.
About Teranga Gold
Teranga is a Canadian-based gold company listed on the Toronto Stock Exchange (TSX:TGZ) and Australian Securities Exchange (ASX:TGZ). Teranga is principally engaged in the production and sale of gold, as well as related activities such as exploration and mine development in Senegal, West Africa.
Teranga’s mission is to create value for all of its stakeholders through responsible mining. Its vision is to explore, discover and develop gold mines in Senegal and West Africa, in accordance with the highest international standards, and to be a catalyst for sustainable economic, environmental and community development. All of its actions from exploration, through development, operations and closure will be based on the best available techniques. For more information, please refer to www.terangagold.com.
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