Highlights

  • Kobada Gold Project activities continue without interruption despite Mali fuel concerns.
  • Second RC drill rig to accelerate anomaly testing and site sterilisation.
  • Engineering, permitting, and funding initiatives advancing with authorities and partners.

Toubani Resources Limited (ASX:TRE) announced that its operations at the Kobada Gold Project in Mali remain unaffected despite recent media reports concerning fuel supply limitations and the general security situation in Bamako. Drilling activities are ongoing as scheduled, with the company expecting the arrival of a second reverse circulation (RC) drill rig soon to expedite anomaly testing and infrastructure sterilisation programs.

Other site preparation activities are progressing in parallel, and the company’s Bamako office continues to operate as usual with no reported disruptions.

Permitting and Engineering Progress Underway

Following last month’s approval of the Environmental and Social Impact Assessment (ESIA) for Kobada, Toubani is advancing its permitting process through continued engagement with government authorities and key stakeholders.

The company has appointed Ausenco Services Pty Ltd as its Engineering, Procurement, and Construction Management (EPCM) contractor. Initial engineering work has commenced, with long-lead procurement orders already placed to align with the project schedule.

Licence and Government Engagement Maintained

Toubani confirmed that its licence for the Kobada Gold Project remains in good standing. Discussions with Malian authorities are progressing to finalise the project’s investment framework. Senior executives from Toubani have held recent meetings with several government ministers to advance these arrangements.

Funding Package and Shareholder Commitment

Toubani’s 35% shareholder, Eagle Eye Assets (EEA), reaffirmed its support for the company’s ongoing development milestones and funding strategy. The proposed funding package includes an AUD 70M follow-on equity investment and a USD 160M gold stream.

Upon completion of the announced funding package, Toubani’s cash position is expected to reach approximately AUD 177M, prior to any drawdown from the USD 160M stream facility.

Share performance of TRE

TRE’s shares traded at AUD 0.315 per share on 06 November 2025, up by 18.86% from its previous close of AUD 0.265.