Toubani Resources Secures Kobada Gold Project Deal With Mali Government; Shares Hit All-Time High

MT Newswires Live

01/30

Toubani Resources (ASX:TRE) has secured a binding agreement with the State of Mali to advance the development and governance of its Kobada gold project, according to a Friday Australian bourse filing.

The Kobada mining license was officially transferred to Mines de Kobada on Jan. 28, allowing the company to begin development, per the filing.

The key terms comprise a 35% cap on the State's interest, government approval to start development works, adherence to the 2023 Mining Code, and the fiscal conditions earlier disclosed, the filing said.

The company's shares rose around 2% in recent Friday trade, earlier hitting an all-time high.

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