Traka Eyes 75% Stake in Guinea Gold Project Amid Legal Challenge
Traka Resources has secured a strategic joint venture in Guinea’s Siguiri Basin while streamlining its Australian portfolio, though a legal dispute with its Guinea partner clouds the project’s future.
- Earn-in agreement for up to 75% interest in Didi Gold Project, Guinea
- Dispute arises with Alamako Resources over JV termination claim
- Relinquishment of two tenements at Cranbrook Project, WA
- Preparations underway for exploration at Gorge Creek, Queensland
- Ongoing capital raising to support exploration and operations
Strategic Expansion into West Africa
During the June 2025 quarter, Traka Resources Limited made a significant move by securing an earn-in and joint venture agreement over the Didi Gold Project in Guinea’s prolific Siguiri Basin. This 75.45 square kilometre project lies just 12 kilometres from AngloGold Ashanti’s 8.5 million ounce Siguiri Gold Mine, positioning Traka in a highly prospective gold region with considerable exploration upside.
However, the promising partnership has hit a snag. Post-quarter, Traka received notice from its local partner, Alamako Resources SARL, purporting to terminate the agreement. Traka disputes this termination, asserting it has acted in good faith and is currently reviewing its legal options. This dispute introduces uncertainty over the project’s near-term progress and highlights the complexities of international joint ventures in emerging mining jurisdictions.
Refining the Australian Portfolio
Back home, Traka has taken steps to sharpen its focus by relinquishing two of three tenements at its Cranbrook Project in Western Australia. The remaining licence, E70/6460, retains potential for clay- and rock-hosted rare earth element mineralisation, a sector of growing strategic importance. This streamlining reflects a disciplined approach to capital allocation, concentrating efforts on the most promising assets.
Meanwhile, at the Gorge Creek Project in Queensland, Traka is preparing for exploration targeting sediment-hosted base metals, uranium, and rare earth elements. The company is actively engaging with Traditional Owners and regulatory bodies to secure heritage approvals, a prerequisite for drilling. This patient groundwork suggests a commitment to responsible exploration and community collaboration.
Asset Sales and Financial Position
In May 2025, Traka announced the sale of its Mt Cattlin Gold-Copper-Rare Earths Project to Prowse Commodities Pty Ltd. The transaction remains subject to due diligence and regulatory approvals, with assessments ongoing. This divestment aligns with Traka’s strategy to focus on core projects with higher growth potential.
Financially, the company reported $368,000 in exploration expenditure for the quarter and a net cash outflow from operations. Cash reserves stood at a modest $83,000 at quarter-end, underscoring the urgency of an ongoing capital raising effort. Traka is confident in securing additional funding to sustain and expand its exploration activities, a critical factor for advancing its pipeline.
Looking Ahead
Traka Resources is navigating a pivotal phase, balancing international expansion with portfolio optimisation and financial discipline. The outcome of the Guinea JV dispute will be closely watched by investors, as will progress on heritage approvals and exploration milestones in Australia. The company’s ability to secure fresh capital will be instrumental in translating its strategic ambitions into tangible results.
Bottom Line?
Traka’s next moves on the Guinea JV dispute and capital raising will define its growth trajectory in a competitive exploration landscape.
Questions in the middle?
- How will Traka resolve the legal dispute with Alamako Resources over the Didi Gold Project?
- What timeline can investors expect for drilling commencement at Gorge Creek following heritage approvals?
- Will the ongoing capital raising provide sufficient runway for Traka’s exploration ambitions?
