https://www.miningweekly.com

African Gold rebrands as Toubani

27th June 2022

By: Creamer Media Reporter

     

Font size: - +

TSX-V-listed Africa Gold Group has changed its name to Toubani Resources to better reflect its strategic focus on the development of the Kobada project, in Mali, and its ambition to dual list on the ASX.

Toubani reflects the name of a popular bird in the Malinke language, president and CEO Danny Callow explained on Monday.

“The name change reflects the company spreading its wings, the near-term resource growth potential of the company and better reflects our local heritage, our strong relationship within the local communities in which we operate and our progress in the development of our flagship Kobada project.

“The company is poised for transformational growth with the advancement of continued exploration of the Kobada project over the coming year, which we believe gives us the potential for further resource growth increases and builds on the highly successful drilling campaigns since late 2019,” said Callow.

Over the last two years, Toubani has expanded the resource base at Kobada with a 144% increase in reserves and 44% increase in measured and indicated resource categories.

The project has a proven and probable mineral reserve of 1.25-million ounces of gold, total, measured and indicated mineral resources of 1.71-million ounces and a total mineral resource, including inferred resource, of 3.14-million ounces.

The recently published definitive feasibility study outlines plans for a three-million-tonne-a-year operation, producing 1.2-million ounces of gold over a 16-year mine life. On average, Kobada will produce 100 000 oz/y of gold and has a net present value of $506-million.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION