TOUBANI RESOURCES LTD (TRE) - Advancing the Kobada Gold Project in Southern Mali

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Phil Russo, Managing Director of Toubani Resources, returns to ASX Briefs to share the remarkable progress of the company's flagship Kobada Gold Project in Southern Mali. At the heart of this exciting development is a 2.2 million ounce resource with game-changing characteristics that set it apart from typical gold projects.

What makes Kobada truly special is its oxide-dominated profile – "free-dig, free-milling soft rock ore" that permeates every aspect of the project. This distinctive feature dramatically impacts the technical approach, economic projections, and capital requirements, creating what Russo describes as a project that can produce 162,000 ounces annually for nearly a decade at exceptionally competitive costs.

The company is advancing at full speed toward a final investment decision later this year, with multiple workstreams running concurrently. Two drilling rigs are actively exploring fresh and oxide rock to expand the resource, while permitting and government negotiations progress steadily. The project's exploration upside is substantial – with only 11 kilometres of their 50-kilometre shear zone drilled to date, and current drilling averaging just 130 metres deep across a 5-kilometre strike length. As Russo notes, "the more you drill, the more gold you find here."

Financially, Toubani has significantly strengthened its position, securing a $29 million placement that includes strategic investment from A2MP Investments, plus a non-binding debt commitment letter for at least US$160 million. This robust financial backing, combined with the project's favourable economics, puts Toubani "in control of our own destiny" according to Russo.

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