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Toubani Resources Limited Registered Shs ( (AU:TRE) ) has shared an update.
Toubani Resources reported strong progress on de-risking its Kobada Gold Project during the December quarter, securing approval of its Environmental and Social Impact Assessment, Resettlement Action Plan and water extraction permit from Malian authorities, and advancing detailed engineering and procurement under lead contractor Ausenco. Key construction-enabling steps included ordering long-lead plant items, awarding bulk earthworks and logistics contracts, advancing mining and power plant tenders, and filling key project roles in Perth and Mali. The company also launched its largest drilling campaign to date, a 100,000m program targeting mineral resource expansion and higher-grade zones, with recent diamond and RC drilling returning high-grade intercepts both below and outside the current resource, suggesting potential for future resource growth. To underpin development, Toubani secured a A$395 million funding package comprising a gold stream, option exercise and equity placement, and after quarter-end obtained a credit-approved term sheet from Coris Bank for a US$73.3 million senior debt facility and US$10.2 million mezzanine facility to partially replace the previously announced gold stream, further strengthening the project’s financing structure ahead of a final investment decision.
The most recent analyst rating on (AU:TRE) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Toubani Resources Limited Registered Shs stock, see the AU:TRE Stock Forecast page.
More about Toubani Resources Limited Registered Shs
Toubani Resources Limited is an ASX-listed gold developer focused on advancing the Kobada Gold Project in southern Mali. Operating in the gold mining and exploration industry, the company is progressing Kobada towards construction through project engineering, permitting, drilling and funding activities aimed at establishing a significant open-pit gold operation in West Africa.
Average Trading Volume: 879,913
Technical Sentiment Signal: Buy
Current Market Cap: A$13.01M
See more insights into TRE stock on TipRanks’ Stock Analysis page.