Teranga Gold Corporation (fka TGCDF)

[ConferredDiligence]

Quote from Trish in IR department in response to questions asked by fellow blogger.

"I contacted Trish from Investor Relations..I asked some questions ...this is what she said:"

Sorry for my tardiness. We are down at the big annual mining conference in South Africa and have been meeting with investors since we landed on Sunday morning.

With respect to why Teranga has been lagging the recent rise in gold price, we do not know of any large investors who are selling. We believe that we have lagged since we announced our 2017 guidance because of program trading. These programs would have read our AISC as $1,000-$1,075. However, we clearly highlighted that $100 of those costs are non-cash. We have met with many investors in person since our announcement on January 30th and AISC have not been raised as an issue. The downside of computer trading is that they interpret results in black and white.

With respect to the "value trap" comment, you need to look at that analyst's thesis. He sees our value in a heap leach operation and we have said that at this point, this is not on the table. We have a top quality mill at Sabodala. We have offered to meet with this analyst several times and he has refused to talk to management.

The important thing to focus on is our future. We are in a very different and better place than we were 12 months ago. We have more opportunities and the potential to achieve more catalysts in 2017 than in any prior year. There should be a fair bit of news flow this year as we issue our technical report for Banfora and announce whether we will proceed to construction. We also have exploration underway in three jurisdictions and the strongest exploration team we have ever had.

As for confidence in management, I think we have come along way since missing guidance in 2015. We said that most of the missed production had been deferred and it was. As a result we had record production in 2016 and significantly de-risked our Sabodala operations. We are miles from the penalty box we were in last year and are working diligently to deliver on our promises and create shareholder value.

We would be happy to set up a telephone call to discuss in more detail, XXXX. Let me know if this of interest.

Trish