Toubani Secures Funding for Kobada Gold Project
Toubani Resources has announced securing a $395m package to fully fund the construction of its Kobada gold project in Mali.
The package includes a $160m gold stream agreement with Eagle Eye Asset Holdings (EEA), a major existing shareholder, as well as a $26m raise through the exercise of existing options held by EEA and a $125m multi-tranche equity placement.
The financing follows Toubani’s successful definitive feasibility study (DFS) for the Kobada project.
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- Package value: $395m
- Gold stream agreement: $160m
- Equity placement: $125m
Author's summary: Toubani Resources secures $395m funding for Kobada gold project.