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 EEA.
- Raising $26m through the accelerated exercise of existing options held by EEA.
- A $125m multi-tranche equity placement to institutional investors at a price of $0.40 per share.
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The financing comes after Toubani’s successful definitive feasibility study (DFS) for the Kobada project.
Author's summary: Toubani Resources secures $395m funding for Kobada gold project.