Aankondiging • Jun 29
Toubani Resources Limited (ASX:TRE) entered into a share purchase agreement to acquire 19.90% stake in Avanti Gold Corp. (CNSX:AGC) for AUD 26.1 million. Toubani Resources Limited (ASX:TRE) entered into a share purchase agreement to acquire 19.90% stake in Avanti Gold Corp. (CNSX:AGC) for AUD 26.1 million on June 29, 2026. The consideration consists of the issuance of 72.9 million shares in Toubani and 36.45 million Toubani options (subject to an exercise price of $0.60 and expiring three years from the date of issue).
The expected completion of the transaction is no later than 20 July 2026, subject to customary conditions for a transaction of this nature.
Canaccord Financial Group Pty Ltd. acted as financial advisor for Toubani Resources Limited. Thomsons and Stikeman Elliott LLP acted as legal advisors for Toubani Resources Limited. Aankondiging • Jun 10
Toubani Resources Limited Provides Update on Construction Activities At the Kobada Gold Project Toubani Resources Limited provided an update on construction activities at the Kobada Gold Project. At Kobada, bulk earthworks are progressing rapidly with the process plant site now cleared and levelled. The water storage dam and turkey's nest are on track to be completed in the coming weeks, ahead of the commencement of the wet season. Clearing of the airstrip and permanent camp areas commenced last month, with construction of the airstrip and tailings storage facilities as the next priorities for earthworks. Upgrades to the existing accommodation facilities at Kobada have largely been completed enabling these to be used as the construction camp. The first items of equipment have arrived in Mali, with steel plates for the CIL tanks delivered to the tank fabricator’s yard in Bamako while the HDPE liner for the tailings storage facility is currently at port and will be shipped to Kobada in the next few weeks. Further shipments are in transit either on the water or by road from Abidjan. Approximately 20% of the structural steel has been fabricated, with shipping to commence this month. Ball mill supply is tracking as per schedule; cast-in items are on site, with first major components planned to be shipped this month. The interactions on site with neighbouring communities and local authorities remain positive. Various stakeholder engagement meetings are ongoing including those associated with the implementation of the Resettlement Action Plan. Off-site, the engineering and design of the Process Plant by Ausenco is now 67% complete, consistent with the schedule. As at the end of May, over 59% of the Project's capital cost had been committed, with local content spend at 39% of the capital cost to date. Final inspections of the Bergen power units were also recently completed ahead of shipping. Finalisation of project financing documentation and receipt of necessary approvals is ongoing and nearing completion for the overall funding package for Kobada, with conditions precedent being advanced in parallel to condense timing to binding and unconditional status. Toubani is targeting first gold production in the third quarter of calendar year 2027 and remains on schedule to achieve this target. Aankondiging • Apr 30
Toubani Resources Limited, Annual General Meeting, May 28, 2026 Toubani Resources Limited, Annual General Meeting, May 28, 2026. Location: at level 5, 191 st georges terrace, perth wa 6000 Australia Aankondiging • Apr 29
Toubani Resources Limited Receives a Notice from Stephen Mayne On April 28, 2026, Toubani Resources Limited announced that it has received notice from Stephen Mayne dated April 12, 2026, an external non-Board endorsed candidate, has nominated himself to stand for election as a non-executive Director in accordance with Article 7.2(f) of the Constitution. In addition, the board recommends shareholders vote against Mayne's election as a director of the Company at annual general meeting of shareholders of the Company will be held on May 28, 2026. New Risk • Mar 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (229% increase in shares outstanding). Revenue is less than US$1m (AU$77k revenue, or US$53k). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Aankondiging • Feb 23
Toubani Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 125.689134 million. Toubani Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 125.689134 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,750,405
Price\Range: AUD 0.4
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,521,509
Price\Range: AUD 0.4
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 113,450,920
Price\Range: AUD 0.4
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,500,000
Price\Range: AUD 0.4
Discount Per Security: AUD 0.018
Transaction Features: Subsequent Direct Listing Aankondiging • Jan 27
Toubani Resources Limited Provides an Update on Development Activities At Its Kobada Gold Project in Southern Mali Toubani Resources Limited provided an update on development activities at its Kobada Gold Project in southern Mali. Several key milestones have been achieved with the Project remaining on track to commence construction during first quarter 2026. Activities continue at pace in both Mali and Australia with key permitting, financing, engineering and regulatory milestones all nearing completion ahead of commencement of construction. Highlights. Key contracts including appointment of a logistics partner and bulk earthworks contractor have been awarded, with contractor mining tenders in the final stages of evaluation. All key Project roles have now been filled in Perth and Mali including the Construction Manager, RAP Manager and Finance Manager positions in Mali. Long lead items such as the ball mill, mineral sizer, CIL tank platework, and structural steel have been ordered and on track for delivery to Kobada as required in the construction schedule. Project financing to complete the construction of Kobada is in place with Tranche 3 set for approval on 13 February 2026. Toubani is also in advanced discussions with potential debt providers to optimise the overall funding mix, as per the terms of the financing. Final approval milestones with the State of Mali are nearing completion with senior executive meetings held in Mali during January. The issuance of the Permit allows Toubani to commence site works such as clearing and earthworks. The Company has progressed final discussions with the State of Mali related to Kobada's investment with key meetings held in January in Mali between senior Toubani executives and representatives of the State to formalise these approvals. Project Update. All long lead equipment has now been ordered in the December quarter following completion of the financing and appointment of Ausenco as the EPCM contractor. The items are currently on schedule to be delivered in accordance with the required timeframe. The order for the mineral sizer has also been placed. Approximately 1,000 tonnes of CIL platework have been fabricated and are ready for shipment, and structural steel is being cast, completed, and ready for shipment during the quarter. Ausenco have commenced project works with their process plant design review anticipated to be completed at the end of January 2026. Ausenco has progressed mobilisation and logistics schedules in anticipation of construction commencement. The bulk earthworks contract for the process plant area has been awarded, and mobilisation will commence once the environmental permit is approved. Designs for the tailings storage and water storage facilities are substantially completed, and bids have been received for their construction. Earthworks for the water storage facility will be part of the early works on site to ensure that the storage facility is able to capture run off in the 2026 wet season and reduce the requirement for water extraction. Financing Update. The Kobada Gold Project achieved a key financing milestone with the AUD 395 Million funding package announced on October 10, 2025. On December 3, 2025 shareholders approved Tranches 1 and 2 of the financing. The amount raised under these two tranches is approximately AUD 80 million, with a further AUD 45 million (Tranche 3) to be raised via the issue of approximately 112 million New Shares to existing major shareholder Eagle Eye Asset Holdings Pte Ltd. ("EEA"), subject to shareholder approval at an EGM to be held on 13 February 2026. The Company has a highly experienced Board and management team with a proven African track record in advancing projects through exploration, development and into production. New Risk • Nov 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m (AU$77k revenue, or US$50k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$93.0m market cap, or US$60.3m). Aankondiging • Oct 10
Toubani Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 125 million. Toubani Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 125 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 87,750,405
Price\Range: AUD 0.4
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 113,021,509
Price\Range: AUD 0.4
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 111,728,086
Price\Range: AUD 0.4
Transaction Features: Subsequent Direct Listing Aankondiging • Sep 24
Toubani Resources Ltd Appoints Gaurav Gupta as A Non-Executive Director, Effective 22 September 2025 Toubani Resources Ltd. advised that it has appointed Mr. Gaurav Gupta as a Non-Executive Director of Toubani Resources effective from 22 September 2025 following the investment by Eagle Eye Asset Holdings Pte Ltd. ("EEA") as approved at the shareholder meeting held on 28 July 2025. Mr. Gupta manages a Monetary Authority of a Singapore registered family office, with high-growth /investment holdings across the mineral and biotech industries. Within the mining sector, these investments encompass base and precious metals, coloured gemstones, and the broader Electric Vehicle supply chain, including a major holding in Toubani Resources through EEA. Mr. Gupta has over 25 years' experience in international trade and is a qualified Chartered Accountant. He holds a Bachelor of Commerce Degree from the University of Delhi. New Risk • Sep 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.6m free cash flow). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (US$77k revenue). Minor Risk Market cap is less than US$100m (AU$115.8m market cap, or US$76.5m). Breakeven Date Change • Jun 05
Forecast to breakeven in 2027 The analyst covering Toubani Resources expects the company to break even for the first time. New forecast suggests the company will make a profit of US$56.9m in 2027. Average annual earnings growth of 99% is required to achieve expected profit on schedule. New Risk • Mar 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m (US$48k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$9.0m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$55.0m market cap, or US$34.3m). New Risk • Mar 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.8m free cash flow). Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m (US$48k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$4.8m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$45.8m market cap, or US$28.8m). New Risk • Mar 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m (US$17k revenue). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (US$4.0m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$44.6m market cap, or US$28.0m). New Risk • Jan 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m (US$17k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$4.0m net loss in 2 years). Market cap is less than US$100m (AU$32.1m market cap, or US$20.0m). New Risk • Dec 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Revenue is less than US$1m (US$17k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$4.0m net loss in 2 years). Market cap is less than US$100m (AU$35.3m market cap, or US$22.0m). Aankondiging • Nov 29
Toubani Resources Limited Provides Update for Kobada Gold Project Toubani Resources Limited provided the following update for the Kobada Gold Project following the release of the 2024 Definitive Feasibility Study (DFS), which outlined a low capital cost and high production development Project over an extended mine life. Appointment of Financial Advisor for the Project Financing of the Kobada Gold Project: Toubani appointed Endeavour Financial as its financial advisor for the project financing of the Kobada Gold Project. Enhance, Grow and Derisk - Environmental & Social Impact Assessment (ESIA), Drilling Campaign and Mali Update: Following completion of the DFS, the Company has commenced activities for the updating of its previously approved ESIA for the Kobada Gold Project to account for the change in Project profile defined in the DFS. ABS Africa have been engaged to perform this work stream. The Company is also preparing for drilling activities to commence next month with the campaign targeting extensions to the main Kobada deposit at depth, as well as additional oxide mineralisation in and around the Kobada deposit identified as part of the Company's 2024 oxide targeting exercise. The Company believes any additional oxide resources delineated will serve as potential to supplement the base-case production profile shown in the DFS. In addition, the program will include geotechnical drilling to inform further pit design optimisation studies as well as metallurgical test work to refine processing parameters. These activities are designed to enhance the DFS and advance the Project towards the build phase. Toubani continues to advance discussions with the State of Mali on the final investment agreements for the development of the Kobada Gold Project following the delivery of the DFS, with discussions setting the framework for a long-term and mutually beneficial partnership between the parties. The DFS outlined a highly attractive and robust development Project with the potential for over USD 1.2 billion in direct economic benefits for Mali. Toubani and the State of Mali have a shared interest in Kobada's development, and the Company looks forward to providing updates as these discussions progress. Despite reports of disruptions to the activities of other resource companies in Mali in recent times, Toubani advises that its operations have not been impacted and it is continuing with activities in the ordinary course of business. Toubani advises that, being a development stage company, it has no tax liabilities or accrued tax debts within Mali and accordingly, does not have any tax disputes with the State of Mali. Recent Insider Transactions • Nov 13
Non-Executive Chairman recently bought AU$103k worth of stock On the 12th of November, Scott Perry bought around 500k shares on-market at roughly AU$0.21 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Scott has been a buyer over the last 12 months, purchasing a net total of AU$299k worth in shares. Breakeven Date Change • Nov 01
No longer forecast to breakeven The analyst covering Toubani Resources no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$26.2m in 2025. New forecast suggests the company will make a loss of US$3.11m in 2025. Aankondiging • Sep 17
Toubani Resources Limited Announces Appointment of Mike Nelson as Director Toubani Resources Limited announced appointment of Mike Nelson as director. Date of appointment is September 17, 2024. New Risk • Sep 10
New major risk - Revenue and earnings growth Earnings have declined by 2.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (US$17k revenue). Minor Risk Market cap is less than US$100m (AU$45.4m market cap, or US$30.2m). Aankondiging • Aug 21
Toubani Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Toubani Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,209,106
Price\Range: AUD 0.17
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,614,424
Price\Range: AUD 0.17
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Aug 06
Non-Executive Chairman recently bought AU$56k worth of stock On the 2nd of August, Scott Perry bought around 300k shares on-market at roughly AU$0.19 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$140k. Scott has been a buyer over the last 12 months, purchasing a net total of AU$196k worth in shares. Aankondiging • Jul 26
Toubani Resources Limited Announces Appointment of Aaron Gates as Joint Company Secretary Toubani Resources Limited announced the appointment of Mr. Aaron Gates as joint Company Secretary. Mr. Gates is the Company's current Chief Financial Officer and will assume Company Secretarial duties in addition to his financial duties. Mr. Kevin Hart will continue to act as the Company's joint Company Secretary. Mr. Aaron Gates has over 15 years' experience as CFO and Company Secretary of public listed companies. He is a Chartered Accountant, has completed a Bachelor of Commerce (Curtin University) with majors in accounting and business law and completed a Diploma of Corporate Governance. Prior to working for public listed companies he worked in public practice in audit and corporate finance roles. Recent Insider Transactions • Jun 06
Non-Executive Chairman recently bought AU$140k worth of stock On the 30th of May, Scott Perry bought around 900k shares on-market at roughly AU$0.16 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Scott's only on-market trade for the last 12 months. Aankondiging • May 01
Toubani Resources Limited, Annual General Meeting, May 31, 2024 Toubani Resources Limited, Annual General Meeting, May 31, 2024, at 14:00 W. Australia Standard Time. New Risk • Apr 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 7.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m (US$6.3k revenue). Minor Risk Market cap is less than US$100m (AU$20.5m market cap, or US$13.4m). Aankondiging • Apr 27
Toubani Resources Limited has filed a Follow-on Equity Offering. Toubani Resources Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 34,770,763
Transaction Features: Subsequent Direct Listing New Risk • Mar 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$6.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.8m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Revenue is less than US$1m (US$6.3k revenue). Minor Risks Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$17.4m market cap, or US$11.4m). Board Change • Feb 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Tim Kestell was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
