Congratulations to Toubani Resources (ASX: TRE) on their A$395m funding package to create the next West African gold producer.

The funding package allows Toubani to commit to a final investment decision in CY2025 and accelerate development of the Kobada Project in Mali, with first production expected by Q3 2027.

Toubani’s major shareholder and strategic partner, Eagle Eye Asset Holdings provided a US$160m gold stream and will increase their pro-forma ownership to 35% following the A$125m capital raise. The placement was supported by TRE’s existing major shareholders, alongside new Australian and offshore institutional investors.

Sternship Advisers is pleased to have acted as Strategic Advisor on the gold stream and Joint Lead Manager to the Placement.

Congratulations to CEO Phil Russo, Eagle Eye Asset Holdings and the Toubani team on this major milestone in advancing Kobada into production.