Toubani Secures Major Financial Backing to Accelerate Kobada Gold Project Development

April 30, 2025 05:43 PM AEST | By Team Kalkine Media

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Toubani Secures Major Financial Backing to Accelerate Kobada Gold Project Development

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Highlights

Toubani (TRE) receives US$160M debt facility commitment

Strategic partnership with A2MP to support Kobada project financing

Equity placement raises $29M to fund growth and development

Toubani Resources (ASX:TRE) has taken a significant step forward in the development of its Kobada Gold Project in Mali by securing a non-binding and non-exclusive commitment for a US$160 million (approx. $250 million) debt facility from Africa Minerals and Metals Processing Platform (A2MP). This financial support aligns with the company’s goal of reaching a final investment decision (FID) on Kobada by the second half of 2025.

As part of this strategic partnership, A2MP will subscribe to $15.2 million worth of new shares in Toubani, acquiring an 18% stake in the company. Additionally, A2MP will be issued 15 million unlisted options at an exercise price of $0.336, representing a 40% premium to the recent placement price. Subject to shareholder approval, another 12.5 million options are planned to be issued, tied to the debt facility drawdown and settlement.

To complement the debt commitment, Toubani has successfully raised $29 million through a two-tranche placement, issuing approximately 120.8 million shares at $0.24 per share. The capital raised will be allocated toward progressing the Kobada Gold Project to the development-ready stage and expanding the project's resource base. Tranche one of this equity raise is expected to settle on 6 May 2025.

A2MP’s director Gaurav Gupta is expected to join Toubani’s board, bringing valuable expertise and a deep network within African financial circles. This move is anticipated to enhance equity and stakeholder engagement, further accelerating the project’s momentum.

With a market capitalisation of around $60.67 million, Toubani is positioning Kobada as a cornerstone project with significant oxide gold potential. According to the company, 2025 is targeted for de-risking and advancing the 2.2-million-ounce project toward production by 2026. This aligns with recent improvements in permitting and investment frameworks in Mali, offering a favourable environment for mining development.

Toubani is also initiating pre-engineering works and a targeted diamond drilling program to explore resource depth potential. These initiatives are set to build confidence in Kobada's scalability and execution readiness.

The broader outlook for resource investors remains strong, particularly as many seek exposure to mineral development alongside more stable segments such as ASX dividend stocks. Additionally, interest in emerging explorers like Toubani continues to rise amid sustained focus on the ASX200 landscape.

With strategic capital, experienced partners, and clear development timelines, Toubani is charting a path to unlock the long-term value of the Kobada Gold Project.

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