Toubani Resources Inc. (TSX-V:TRE, ASX:TRE) said it continued to advance its flagship Kobada project and achieve significant milestones in 2022 under significant market pressure.
In a year-end letter to shareholders, Toubani CEO Danny Callow said the company has managed site operations efficiently with no reported incidents or injuries for the full 12-month period.
“Likewise, due to good communication and strict Covid-19 protocols in place we did not report a single incident for the whole of 2020-2022,” he said.
READ: Toubani Resources appoints Phil Russo as its chief executive officer
Callow also highlighted the company’s work in seeking a dual listing on the Australian Securities Exchange as a means to attract more investment from its Australian shareholder base.
“Coupled with the TSXV listing, we believe we will be able to extend the reach and opportunity to invest in Toubani at an exciting time in its development,” he said.
At the time of listing, the company presented to shareholders its new strategy of focusing on identifying additional mineralized strike and growing the overall resource at the Kobada project.
“We believe that projects such as Kobada, with the size and scale of the resource are few and far between, and with a focus on drilling we have the opportunity to substantially increase the size of this project,” Callow said.
“This strategy has already been put into motion, with drilling commencing on the Kobada South strike extension area to the south of our existing resource shell.”
Further, Callow noted he would be moving into the transitional role of executive chairman for up to six months to make way for Phil Russo, the company’s newly announced CEO, and into a non-executive chairman role thereafter.
The full shareholder letter can be found here.
Toubani Resources is an exploration and development company with a focus on building Africa’s next mid-tier gold producer.
Contact the author at emily.jarvie@proactiveinvestors.com
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