Toubani Resources Limited Registered Shs ( (AU:TRE) ) has issued an update.
Toubani Resources Limited has secured a significant agreement with the State of Mali to develop the Kobada Gold Project under the 2023 mining code, establishing key fiscal terms and aligning both parties in the project’s success. This agreement positions the project for continued advancement towards a Final Investment Decision, with Toubani holding a 65% equity interest and the State of Mali holding 35%. The project is notable for its low capital intensity and strong economic profile, with an anticipated annual production of 162,000 ounces of gold over an initial 9.2-year mine life. The approval to transfer the mining license to a joint operating entity marks a key derisking event, and the project is advancing towards financing and environmental approvals, amidst a positive shift in Mali’s regulatory environment.
More about Toubani Resources Limited Registered Shs
Toubani Resources Limited is a company operating in the mining industry, focusing on the development of gold projects. Its primary project is the Kobada Gold Project, which is positioned to become one of the largest gold mines in Mali, West Africa.
YTD Price Performance: 32.35%
Average Trading Volume: 461,004
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$13.01M
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