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Toubani Resources Inc (ASX:TRE)

ALERT: Price-sensitive ASX Announcement for TRE
Current share price for TRE : $0.270 -0.035 (-11.48%)+
Announcement
Release
6 Oct 2026 9:36AM
Price at Release
$0.305
Full Release
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Summary
Toubani Resources announced that development of its oxide-dominant Kobada Gold Project remains on schedule for first gold in Q3 2027, with construction advancing across multiple fronts and a major September milestone achieved through commencement of CIL tank erection. The company reported 1,000,000 LTI-free man-hours, more than 70% of project costs committed, process plant engineering over 95% complete, power plant engineering approaching 90%, all long-lead mechanical items including the ball mill shipped, and bulk earthworks completed at the process plant while progressing at the tailings storage facility. Structural steel fabrication has reached 80%, key contractors are mobilised, over 900 personnel are on site, the airstrip is nearing completion, and pre-production and operational readiness work is ramping up, including appointment of the Kobada General Manager and finalisation of the mining contract with Corica Mining Services S.A. for mining to begin in early 2027. Upcoming milestones include concrete pours and structural steel erection in October 2026, mechanical and electrical installation in Q1 2027, power plant commissioning in Q2 2027, process plant commissioning in Q3 2027 and first gold in Q3 2027, while an updated Mineral Resource Estimate incorporating recent Foroko drilling is due later in October 2026 and the company noted that about US$50 million of its US$160 million stream facility had been drawn, with additional funding being progressed to support working capital.
Key Points
  • Kobada remains on schedule for first gold in Q3 2027.
  • Toubani achieved 1,000,000 LTI-free man-hours during September.
  • CIL tank erection commenced as a major construction milestone.
  • Process plant bulk earthworks are complete and TSF earthworks are progressing.
  • Process plant engineering is over 95% complete and power plant engineering is approaching 90% complete.
  • All long-lead mechanical items, including the ball mill, have been shipped.
  • More than 70% of project costs are now committed and key procurement is largely complete.
  • Over 900 personnel are on site and all contractors have mobilised.
  • The airstrip is nearing completion and pre-production readiness activities are advancing.
  • Corica Mining Services S.A. has the mining contract, with mining scheduled to begin in early 2027.
  • An updated Kobada Mineral Resource Estimate is on track for October 2026.
  • Approximately US$50 million has been drawn from the US$160 million stream facility, with an additional facility being progressed.
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.