Toubani Resources (ASX:TRE) said the development of its Kobada Gold Project in West Africa remains on schedule for first gold in the third quarter of 2027, with construction of the carbon-in-leach tank now underway, according to a Tuesday Australian bourse filing.

Bulk earthworks are progressing at the tailings storage facility, and earthworks for the process plant are complete, the filing said.

Process plant engineering is more than 95% complete, with all long-lead mechanical items, including the ball mill, shipped, while a mineral resource estimate update is on track for October, Toubani said.

About $50 million from the company's $160 million stream facility has been drawn, and the proceeds have been received, the filing added.

The company's shares fell more than 3% in recent Tuesday trade.