Modern Mining June 2023

JUNIOR MINING

ASX listed gold development company, Toubani Resources, is looking to bring its flagship Kobada Gold project, which currently has a 3.1-million-ounce mineral resource, into produc tion over the coming years, CEO Phil Russo tells Modern Mining . Kobada Gold project advances down the development path

T he exploration and development entity is focus ing on becoming Africa’s next gold producer. The Kobada project is located 120 km south west of Bamako, the capital city of Mali, within the Birimian Greenstone belt. The project, believed to be part of a much larger gold system, currently has a 2021 DFS that demonstrates a production rate of 100 000 oz per annum over 10 years. At a time when the gold price has surpassed the US$2 000/oz mark with fundamentals for the precious metal looking rosy, the West African gold developer remains upbeat as it takes its project and company up the value curve. Kobada’s path to production “As an already permitted project, our asset can be bought into production a lot quicker than others. In terms of near-term deliverables, we are currently working on an option analysis study that will inform us on a range of potential execution approaches as we review the most optimal size and mine plan for

Kobada, and take it up the value curve and into production. In the next few weeks, our parallel exploration programme will have received all outstanding assay results from the most

recent drilling campaign as we assess the significant exploration potential across the district we are in.” An update to the 2021 DFS is planned once the option analysis study is complete, which Russo says will be a compressed timeline given a detailed DFS has already been completed. With a clearer understanding of the size of asset, optimal project execution path and potential financ ing solutions on offer, Russo anticipates a timeline of around 15 months for project construction once the company reaches a final investment decision on the project. “When we have established a credible path to

Sunset at Kobada camp.

24  MODERN MINING  June 2023