Toubani Resources (ASX:TRE) Keeps Kobada on Schedule for First Gold in Q3 2027

Aditi Sarkar

06 October 2026 02:09 PM AEDT

Toubani Resources (ASX:TRE) Keeps Kobada on Schedule for First Gold in Q3 2027

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Highlights

Kobada remains on schedule for first gold production in Q3 2027.
CIL tank erection has commenced and process plant engineering exceeds 95%.
More than 70% of project costs committed and over 900 personnel on site.
About US$50 million drawn from the US$160 million stream facility.

Toubani Resources Limited (ASX:TRE) has provided a construction update on its Kobada Gold Project in Mali, confirming the project remains on track for first gold production in Q3 2027.

Construction Milestones

The project achieved 1,000,000 Lost Time Injury free man-hours in September and began erection of the carbon-in-leach (CIL) tanks. Process plant engineering is more than 95% complete, and all long-lead mechanical equipment, including the ball mill, has been shipped to site.

Process plant earthworks are complete and bulk earthworks at the tailings storage Facility are progressing.

Procurement, Workforce and Funding

More than 70% of total project costs are committed, with over 900 personnel on site. Structural steel fabrication is 80% complete and the first containers have arrived at Abidjan port. Key operational roles, including a mine General Manager, have been filled.

About US$50 million has been drawn from the US$160 million stream financing facility, and the company is working to finalise an additional Working Capital facility.

Timeline to First Gold

Upcoming milestones include mill and crusher foundation pours and the start of structural steel erection in October 2026, mechanical and electrical installation from Q1 2027, power plant commissioning in Q2 2027, and plant commissioning and first gold in Q3 2027.

Managing Director Phil Russo said the project has real momentum across every work front. An updated Mineral Resource Estimate is expected later in October 2026 and will inform the final pit design and three-year Mining schedule.

Key Takeaways

Kobada is on track for first gold in Q3 2027, with CIL tank erection underway.
Over 70% of costs are committed and US$50 million has been drawn from the stream facility.
An updated Mineral Resource Estimate is expected later in October 2026.

FAQs

Q: What did Toubani Resources announce?

A:A construction update confirming Kobada remains on schedule for first gold in Q3 2027.

Q: Where is the Kobada Gold Project?

A:It is located in Mali, West Africa.

Q: How much of the project cost is committed?

A:More than 70% of total project costs are committed.

Q: How much of the stream facility has been drawn?

A:About US$50 million of the US$160 million facility.

Q: What is expected later in October 2026?

A:An updated Mineral Resource Estimate to inform the pit design and mining schedule.

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