Toubani Resources to commence trading on ASX

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Toubani Resources to commence trading on ASX

Toubani Resources, Inc. is pleased to announce that it has been formally admitted to the Australian Securities Exchange and its securities are scheduled to commence trading on the ASX on Monday November 28, 2022 at 1:30 pm AEDT under the ticker code TRE. The Company will continue to trade on TSX Venture Exchange under the symbol TRE.

In connection with the Company’s dual listing on the ASX, it completed a capital raising which raised A$6,000,000, introducing a broad base of new shareholders, predominantly from Australia. The net proceeds of the capital raising will be used to undertake an extensive drill programme to identify and incorporate all potential high value material into an updated Mineral Resource estimate for the Kobada Gold Project.

About Toubani Resources Inc

Toubani Resources is an exploration and development company with a focus on expanding its existing total resource base of 3.1 million ounces. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production.

Toubani Resources’ principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed a Definitive Feasibility Study in September 2021 showing compelling economics for a 100,000oz per annum production profile over 10 years. The company believes the flagship project to be largely de-risked based upon the results of the study, and further exploration will build on the substantial baseline of 3.1 million ounces total resource, and 1.2 million ounces of reserves.

As well as the initial Kobada Gold Project mining concession, other highly prospective exploration locations have been identified on the Kobada, Faraba and Kobada Est concessions based upon systematic regional exploration techniques. These additional exploration areas are part of the targeted drilling campaign as outlined above, with a view to increase strike length and grow resource ounces.

 

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