Taruga Minerals Limited Stock Market Press Releases and Company Profile
RM Research Report Maintains Speculative Buy Rating
RM Research Report Maintains Speculative Buy Rating

Perth, May 27, 2015 AEST (ABN Newswire) - RM Research is maintaining its speculative buy rating on Taruga Gold Ltd (googlechartASX:TAR) the back of continued exploration success with a vote of confidence from Sprott who are looking to fund active explorers. Their commercial and corporate capability of Sprott should also provide TAR with a significant boost moving forward.

Background:

Taruga announced (ASX Announcement, 20/5/2015) that it had agreed to place 222m shares @ $0.045 (and 1:1 free attaching options ex. at 0.60 cents exp. 6/17) to raise approximately A$1.0m This includes A$500K to Canadian based fund manager Sprott Inc. The Company intends to immediately follow the placement up with a Shareholder Purchase Plan.

Last Quarter also saw the finalisation of a JV with Resolute who can earn a 75% interest via the expenditure of US$3.0m (minimum of US$0.50m prior to withdrawal with no interest earned until US$3.0m is spent) over 4 years on the Nielle, Tiebissou and M'Baihaikro concessions (Cote D'Ivoire). Following the earn-in by Resolute, TAR will be free carried until decision to mine at which point TAR can contribute or dilute.

To view the RM Research Report, please visit:
http://media.abnnewswire.net/media/en/docs/80040-ASX-TAR-RM201505.pdf

Contact

Taruga Gold Limited
Bernard Aylward
T: +61-8-9222-5800
F: +61-8-9222-5810
E: admin@tarugagold.com.au
WWW: www.tarugagold.com.au

RM Research
E: info@rmresearch.com.au
W: www.rmresearch.com.au
T: +61 8 6380 9200
F: +61 8 6380 9299



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