Toubani Resources Inc (ASX:TRE, OTC:AGGFF) CEO Phil Russo speaks with Proactive following news the company is adding A$3.8 million to its exploration war chest for the Kobada Gold Project in southern Mali after securing firm commitments from existing and new institutional and sophisticated investors in a fully-subscribed placement. Funds raised will be allocated towards several key initiatives, including the completion of an optimised definitive feasibility study to further develop the large-scale oxide gold project.
We are excited to be moving into this phase of Toubanis evolution underpinned by the recently announced significant oxide gold resource and with a clear line of sight on the potential of Kobada as a gold project dominated by free dig, free milling and soft rock material of scale, Russo said.
We look forward to surfacing this value and showcasing the attractiveness of Kobada in the months ahead and thank our existing shareholders for their support, while we welcome a number of new shareholders to our register.
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Toubani Resources Inc. CDI