https://www.engineeringnews.co.za

Toubani secures A$10m for Mali gold project

21st August 2024

By: Creamer Media Reporter

     

Font size: - +

Australia-listed Toubani Resources has raised A$10-million in a two-tranche placement for its Kobada gold project, in Mali.

The placement comprises 58.8-million new ordinary shares at an issue price of A$0.17 a new share.

The placement, Toubani said, was strongly supported by new and existing institutional and sophisticated investors, including several Australian specialist resources fund managers.

The company also announced that Australian fund manager Paradice had committed to subscribe for new shares in the placement resulting in a pro-forma holding of 9.9% in Toubani on completion of the offer.

"We are humbled by the support received from existing and new shareholders as we welcome several new high-quality institutions to Toubani,” said MD Phil Russo.

He stated that Toubani was well positioned to advance its West African gold development project and stated that an updated feasibility study for Kobada would be published in the coming months.

The current definitive feasibility study proposes the construction of a three-million-tonne-a-year operation producing 1.2-million ounces of gold over a 16-year life-of-mine, with average gold production estimated at 100 000 oz/y over the first ten years of operation.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.058 1.081s - 140pq - 2rq
Subscribe Now