Toubani Resources Limited has confirmed that operations at its Kobada Gold Project in Mali remain unaffected, despite recent media reports citing fuel supply restrictions and security concerns in Bamako.

The company stated that drilling activities continue as planned, with a second reverse circulation (RC) rig expected to arrive shortly to accelerate anomaly testing and sterilisation programmes to finalise infrastructure locations. Other project readiness initiatives are progressing in parallel, and Toubani’s Bamako office continues normal business operations.

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Following the recent approval of the project’s Environmental and Social Impact Assessment (ESIA), Toubani is advancing its permitting process through ongoing engagement with stakeholders and authorities.

The company has also appointed Ausenco Services Pty Ltd as its engineering, procurement, and construction management (EPCM) partner, with initial engineering work underway and long-lead items ordered.

Toubani confirmed that the Kobada licence remains in good standing, with constructive discussions ongoing with Malian authorities to finalise the project’s investment framework. Senior company executives recently met with several government ministers as part of these efforts.

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The company’s major shareholder, Eagle Eye Assets (EEA), which holds a 35% stake, reaffirmed its support for Toubani’s near-term milestones and funding strategy.

EEA highlighted its planned A$70 million follow-on equity investment and US$160 million gold stream as part of the company’s comprehensive financing package.

Upon completion of the announced funding arrangements, Toubani’s cash position is expected to total approximately A$177 million, prior to any drawdown from the US$160 million gold stream.