Leadership changes are afoot at Toubani Resources Ltd (ASX:TRE) as it moves towards completion of the Kobada Gold Project definitive feasibility study (DFS), which will position the company as a major gold producer in Mali.
Experienced mining executive
The company has appointed former Barrick and Gold Fields project director and experienced mining executive Mike Nelson to join the company’s board as a non-executive director.
Simultaneously, non-executive director Tim Kestell will step down from the board after a successful tenure that included the listing of Toubani on the ASX in November 2022 and the repositioning of the Kobada project.
Nelson has more than 30 years of mining and project leadership experience and will bring a wealth of knowledge to Toubani as it progresses towards completion of the definitive feasibility study (DFS) for Kobada, scheduled for October 2024.
Nelson’s experience includes senior roles at major gold and copper operations such as the KCGM and Telfer gold mines in Western Australia, and international projects including the Reko Diq copper-gold project in Pakistan and the Quebrada Blanca Phase II copper project in Chile.
He also oversaw Gold Fields’ global project portfolio, including the Yanfolila gold project in Mali.
Toubani is in discussions with the Malian government to finalise agreements for the Kobada project.
The company views recent milestones, such as agreements by major producers B2Gold and Allied Gold with the State of Mali, as positive indicators for renewed investment and stability in the Malian mining sector.
Toubani aims to leverage the large oxide resource at Kobada, positioning it as Africa’s next significant gold mine.
Managing director Phil Russo said: "I would like to extend a warm welcome to Mike and look forward to his contribution to Toubani in the period ahead as we complete the DFS for Kobada and position the project on the development pathway.
“Mike's extensive experience in studies and project delivery complements the Company's existing development expertise well.
“I would like to thank Tim for his counsel and contribution to the board over the past two years and wish him well for the future.
Study on schedule
“We continue to move rapidly towards completion of the Kobada DFS with the study on schedule for release next month. Our vision continues to be presenting Kobada as a project of scale, leveraging the significant oxide endowment in our resource.
“The recent agreements by B2 Gold and Allied Gold are welcome milestones for the Malian mining industry, further pointing to a return to regulatory stability and the precursor for an anticipated return of significant capital investment in the country.
“Toubani is also engaged in productive discussions with the State of Mali on finalising its convention for Kobada as both parties work to advance the next significant gold mine for the country."