What's Happening?
Toubani Resources has announced that operations at its Kobada gold project in Mali remain unaffected despite recent reports of fuel supply restrictions and security concerns in Bamako. The company is continuing its drilling activities as planned, with
a second reverse circulation drill rig set to arrive at the site. Toubani is advancing its project readiness measures and has appointed Ausenco Services as its engineering, procurement, and construction management engineer. The company is also progressing with permitting activities following the approval of its Environmental and Social Impact Assessment.
Why It's Important?
The continuation of operations at the Kobada gold project is significant for Toubani Resources and its stakeholders, as it ensures the project's development timeline remains on track. The project is crucial for Toubani's growth strategy and financial stability, especially following the recent approval of a substantial funding package. The ability to maintain operations amid regional challenges highlights Toubani's resilience and commitment to advancing its mining interests. The project also holds economic importance for Mali, contributing to local employment and economic activity.
What's Next?
Toubani will continue to engage with Malian authorities to finalize the necessary investment framework and ensure compliance with local regulations. The company is also focused on securing its funding arrangements, including a significant equity investment and gold stream agreement. As operations progress, Toubani will work towards achieving key project milestones and preparing for the construction phase, supported by its robust financial backing.
