{"id":8816,"date":"2024-04-26T03:20:54","date_gmt":"2024-04-26T03:20:54","guid":{"rendered":"https:\/\/economicherald.net\/?p=8816"},"modified":"2024-04-26T03:20:54","modified_gmt":"2024-04-26T03:20:54","slug":"toubani-propels-dfs-works-at-growing-2-4moz-kobada-gold-project-with-4m-placement","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8816","title":{"rendered":"Toubani propels DFS works at growing 2.4Moz Kobada gold project with $4m placement"},"content":{"rendered":"

Toubani raises $4m via a placement to to carry DFS works, including a resource update, at flagship 2.4Moz Kobada gold project
\n\u201cWe are at an exciting juncture in our development\u201d: TRE CEO Phil Russo
\nThe offer price of $0.115 per share represents a 14.8% discount to the last closing price <\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> Strong investor support will help fuel upcoming technical work streams at the Kobada gold project as Toubani Resources works towards the completion of a definitive feasibility study (DFS). <\/strong><\/p>\n

Low-cost gold developer Toubani Resources (ASX:TRE)<\/a> is focused on defining the development of a bulk mining approach at the Kobada gold project in southern Mali, which will bring forward the processing of a larger tonnage of majority oxide ore.<\/p>\n

The project already hosts 2.4Moz gold in predominantly free-digging oxide, open pittable mineral resources over a 4.5km strike length.<\/p>\n

In 2021, studies contemplated a processing plant with a 3Mtpa throughput rate, with mining rates averaging 24Mtpa to enable a higher\u2010grade feed over the initial 10 years of the project.<\/p>\n

But TRE\u2019s view is that an increased operating profile at Kobada will benefit the project overall and reduce risk, including lower operating costs and the potential for staged ramp up scenarios.<\/p>\n

\u00a0<\/p>\n

Investor confidence spurs Kobada drilling and DFS <\/strong><\/h2>\n

The company has now raised $3.85m through binding commitments from existing and new investors to drive technical work streams required to deliver a definitive feasibility study, including updating its current resource.<\/p>\n

TRE non-executive director Tim Kestell has also subscribed for ~1.3m shares in the placement (equal to $150,000), subject to share holder approval.<\/p>\n

The $0.115 per share issue price represents a respectable 14.8% discount to the last closing price of Toubani1 and 11.9% discount to the 20-Day VWAP.<\/p>\n

TRE says the $4m in proceeds from the placement and director subscription, in conjunction with Toubani\u2019s existing cash of $1m, will be allocated to the completion of the DFS.<\/p>\n

The DFS will optimise Kobada\u2019s processing flowsheet and plant design with the goal to boost the project\u2019s gold output.<\/p>\n

\u00a0<\/p>\n

Exciting juncture in development <\/strong><\/h2>\n

\u201cWe are at an exciting juncture in our development,\u201d TRE CEO Phil Russo says.<\/p>\n

\u201cRecent drilling serves to remind us of the potential at Kobada; this funding enables Toubani to carry out highly targeted resource drilling, as well as ore reserve studies and finally, the completion of an increased scale, predominantly oxide and technically simple Kobada DFS.<\/p>\n

\u201cWe look forward to defining an attractive gold development asset in a market devoid of development assets, particularly those with the attributes of Kobada.\u201d<\/p>\n\n

\ufeff<\/span>\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Toubani Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Toubani propels DFS works at growing 2.4Moz Kobada gold project with $4m placement<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Toubani raises $4m via a placement to to carry DFS works, including a resource update, at flagship 2.4Moz Kobada gold project \u201cWe are at an [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8817,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nToubani propels DFS works at growing 2.4Moz Kobada gold project with $4m placement - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8816\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toubani propels DFS works at growing 2.4Moz Kobada gold project with $4m placement - 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