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Toubani Resources Inc (ASX:TRE)

ALERT: Price-sensitive ASX Announcement for TRE
Current share price for TRE : $0.280 0.01 (3.70%)+
Announcement
Release
29 Jul 2026 9:49AM
Price at Release
$0.270
Full Release
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Summary
Toubani Resources Limited (ASX: TRE) reported on the progress of the Kobada Gold Project in southern Mali for the quarter ending June 30, 2026. The company achieved significant milestones, including completing bulk earthworks at the water storage dam and camp sites, advancing process plant engineering to over 60% completion, and mobilizing over 550 personnel on-site. Construction activities are on schedule, with key contracts awarded and long lead items prepared for shipment. Financially, Toubani's cash and equivalents stood at A$73.5 million at the quarter's end. The company also secured a strategic equity raising and gold stream financing to support project completion. Exploration efforts yielded high-grade intersections from pre-production drilling at Kobada, with further assays expected to update the Mineral Resource Estimate (MRE). Toubani acquired a 19.9% stake in Avanti Gold Corp to expand its resource base. The company remains focused on maintaining its development schedule and financial stability.
Key Points
  • Construction activities at Kobada Gold Project progressed well, with bulk earthworks completed and significant engineering milestones achieved.
  • Financial status includes A$73.5 million cash and equivalents, with strategic equity raising and gold stream financing secured.
  • High-grade drilling results were reported, and further exploration is ongoing to update the Mineral Resource Estimate.
  • Toubani acquired a 19.9% stake in Avanti Gold Corp to enhance its exploration portfolio.
  • Over 550 personnel mobilized on-site, with key contracts awarded for construction and mining services.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.