Toubani Resources Secures AU$302 Million Funding Package to Complete Kobada Gold Mine Construction
MT Newswires Live
Jul 13
Toubani Resources (ASX:TRE) secured and finalized a AU$302 million binding funding package comprising a AU$232 million gold stream and AU$70 million in equity financing to complete the construction of its Kobada gold mine, according to a Monday Australian bourse filing.
The company said an additional term sheet is in place for a senior secured facility of up to $40 million from a syndicate led by AFG Bank to provide further balance sheet flexibility.
The binding funding package provides timely, low-risk funding to ensure Kobada remains on schedule for first gold in the third quarter of 2027, with project capital cost in line with plan, and now over 60% committed, it added.
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