- Teranga Gold released its Q3 results this week and reported a blowout quarter with record gold production driven by higher-grades from SMGC.
- While the company lapped an easy quarter year-over-year as Wahgnion was not online previously, revenues jumped 169% year-over-year, benefiting from higher the output and record gold prices.
- The company is well on track to meet its upward revised FY2020 production guidance and has an enviable organic growth profile relative to peers as SMGC continues to ramp up.
- I continue to see the stock as a top-5 African gold producer, and I continue to believe that any dips below C$12.60 will provide low-risk buying opportunities.
For further details see:
Teranga Gold: Massawa Integration Helps Deliver Another Beat