Toubani Resources Secures Financial Advisor for Mali’s Kobada Gold Project
Toubani Resources, a gold development company focused on Africa, has appointed Endeavour Financial as its financial advisor to advance the development of the Kobada gold project in Mali.
This appointment follows significant interest from potential financiers, including African banks and credit funds, spurred by the recent release of the project’s definitive feasibility study (DFS).
The DFS positioned Kobada as one of West Africa’s most cost-effective gold development projects, with an upfront capital requirement of $216 million.
It also highlighted the project’s potential to produce over 150,000 ounces of gold annually, making it a compelling asset in the region.
Toubani Resources is pursuing financing in line with its “enhance, grow, and derisk” strategy, with the goal of achieving shovel-ready status for Kobada by 2025
Despite reports of disruptions affecting other resource companies in Mali, Toubani confirmed that its operations remain unaffected. The company emphasized that it has no outstanding tax liabilities or disputes with the Malian government.
Toubani is also in ongoing discussions with the government to finalize investment agreements, aimed at establishing a long-term and mutually beneficial partnership.
Located in southern Mali, the Kobada project boasts a large-scale, free-dig, open-pit oxide resource. It is projected to generate over $1.2 billion in direct economic benefits for Mali, positioning the project as a significant contributor to the nation’s gold sector.
This latest development marks a key milestone in Toubani’s journey to unlock Kobada’s full potential as one of West Africa’s premier gold producers.
