Toubani Resources secures a A$395m funding package for its Kobada gold project in Mali, including a A$242m gold stream agreement with Eagle Eye Asset Holdings. The project is based on a successful definitive feasibility study, showing a cost-effective operation expected to yield 162,000oz of gold annually for the first seven years. With a gold price of $2,200/oz, the project has a post-tax net present value of $500m and an internal rate of return of 50%, potentially increasing to an NPV of $951m and an IRR of 79% if the gold price rises to $3,000/oz.

The funding will cover development capital requirements for Kobada, including plant construction, non-process infrastructure, exploration, corporate needs, and transaction expenses. Toubani aims to make a final investment decision this year and start gold production by the third quarter of 2027. EEA has committed to investing $160m for an 11.1% share of gold production, while the A$125m placement will be conducted in three phases, with EEA contributing $45m pending approval.

Read more at Yahoo Finance: Toubani secures funding of $258m for Kobada gold project in Mali