Toubani Resources (ASX:TRE) is advancing toward construction in Q1 2026 at the Kobada Gold Project in southern Mali, having achieved several key milestones at the project.
The company notes that the environmental and social impact assessment, the resettlement action plan, and water extraction permit have all been approved by the relevant authorities. The company expects the final environmental permit to be issued shortly.
The lead engineering contractor, Ausenco, has also begun detailed engineering and procurement activities ahead of the commencement of civil works. The long lead equipment such as the ball mill, mineral sizer, CIL platework, and structural steel has been ordered and is on track for delivery.
Financing is in order, with a $395 million package in place, as previously reported. More recently in December 2025, shareholders approved tranches one and two of the financing, raising approximately $80 million.
An additional $45 million will be raised in tranche three via the issue of approximately 112 million new shares to existing shareholder Eagle Eye Asset Holdings. This is subject to shareholder approval and should be announced in February 2026.
Managing Director Phil Russo says that “Toubani has been progressing Kobada diligently across multiple workstreams with key milestones across permitting, financing, and engineering all being achieved ahead of a formal investment decision”.
“We are on course to deliver a significant gold mine for all our stakeholders and create the next great gold mine for Mali, with activities set to ramp up significantly for the remainder of the year,” Russo says.
Toubani is advancing drilling and early development works onsite, supported by new hires in both Mali and Perth. Infrastructure planning is well advanced, with tenders for mining and power supply nearing completion, and designs for tailings and water storage facilities are substantially completed.
Toubani Resources is focused on advancing the Kobada Gold Project in Mali towards production.
Write to Amy Rotman at Mining.com.au
Images: Toubani Resources
