Toubani Resources (ASX:TRE) non-executive Chairman Scott Perry has raised his stake in the West Africa-focused gold explorer after buying more shares on market.
Perry added a further 900,000 shares to his portfolio at $0.155 apiece, for a total investment of $139,500.
He now holds just under 3 million shares and 400,000 options, exercisable at $0.35 before 6 September 2026, representing about a 1.8% stake in Toubani based on the company’s shares on issue reported by the ASX.
Perry’s last purchase was in late October 2023, when he contributed $250,000 to a $3.8 million placement.
Toubani is working on an updated Definitive Feasibility Study for the Kobada Gold Project in southern Mali.
The DFS will assess the potential for a higher processing rate, and consequently increased annual gold production, with the first phase to focus on the oxide ore. Toubani will focus on adding the fresh material later in the mine plan.
Write to Angela East at Mining.com.au
Images: Toubani Resources
