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| Toubani Resources Kobada Gold Project |
Toubani Resources confirms that its Kobada gold project operations continue unaffected despite fuel supply and security concerns in Bamako, Mali. Drilling and project readiness activities remain on schedule.
Drilling Expansion and Project Readiness
Toubani will deploy a second reverse circulation (RC) drill rig to expedite anomaly testing and sterilisation programmes. These activities are critical for confirming infrastructure locations. Meanwhile, permitting and environmental approvals advance following the recent Environmental and Social Impact Assessment (ESIA) approval.
Ausenco Services, appointed as EPCM engineer, has commenced initial engineering work. Long lead orders are placed to support ongoing development, ensuring construction readiness and timely project execution. The Kobada licence remains in good standing with continued engagement with Malian authorities.
Funding Secured and Market Implications
Toubani has secured A$395m to fully finance Kobada construction, including a A$242m gold stream with Eagle Eye Assets (EEA). This funding ensures sufficient cash balance for operational continuity and capital expenditure. As a result, the project is positioned to advance key milestones, reinforcing Mali’s role in global gold supply.
ScrapInsight Commentary
Kobada’s steady operations amid Mali restrictions indicate robust project governance and risk management. Secured funding supports uninterrupted development, potentially strengthening gold output forecasts. The project also underscores West Africa’s significance in the critical metals and investment landscape.
