Toubani Secures Funding for Kobada Gold Project
Toubani Resources has announced a funding package of A$395m ($257.65m) for the construction of its Kobada gold project in Mali.
- The package includes a $160m (A$242m) gold stream agreement with Eagle Eye Asset Holdings (EEA).
- A$26m will be raised through the accelerated exercise of existing options held by EEA.
- A$125m will be raised through a multi-tranche equity placement to institutional, sophisticated and professional investors at a price of A$0.40 per share.
The financing follows Toubani’s successful definitive feasibility study (DFS) for the Kobada project.
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Author's summary: Toubani Resources secures $258m funding for Kobada gold project.