Toubani secures A$10m for Mali gold project
Australia-listed Toubani Resources has raised A$10-million in a two-tranche placement for its Kobada gold project, in Mali.
The placement comprises 58.8-million new ordinary shares at an issue price of A$0.17 a new share.
The placement, Toubani said, was strongly supported by new and existing institutional and sophisticated investors, including several Australian specialist resources fund managers.
The company also announced that Australian fund manager Paradice had committed to subscribe for new shares in the placement resulting in a pro-forma holding of 9.9% in Toubani on completion of the offer.
"We are humbled by the support received from existing and new shareholders as we welcome several new high-quality institutions to Toubani,” said MD Phil Russo.
He stated that Toubani was well positioned to advance its West African gold development project and stated that an updated feasibility study for Kobada would be published in the coming months.
The current definitive feasibility study proposes the construction of a three-million-tonne-a-year operation producing 1.2-million ounces of gold over a 16-year life-of-mine, with average gold production estimated at 100 000 oz/y over the first ten years of operation.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation