Toubani Resources Limited has received the first drawdown proceeds of US$25 million under its gold stream agreement with Eagle Eye Asset Holdings Pte, following the satisfaction of all remaining conditions precedent.

The initial funding follows the company's announcement on 13 July 2026 that it had secured a US$160 million gold stream with Eagle Eye Asset. The agreed drawdown schedule calls for regular disbursements across the remainder of the project timeline to support the construction execution plan at the Kobada Gold Project in southern Mali.

Toubani broke ground at the development in March 2026 following a positive Final Investment Decision by the board of directors. That operational start followed the formalisation of a binding agreement with the State of Mali in January 2026 under the 2023 Mining Code, which established a capped State interest of 35 per cent in the project.

“The first drawdown of US$25 million under the Gold Stream is a key milestone as we advance construction activities at the Kobada Gold Mine. We appreciate the support that Eagle Eye Asset Holdings Pte has provided to Toubani through this process. We look forward to becoming a gold producer in 2027.” 

— Phil Russo, Managing Director

Construction activities at the site continue to advance as the company works toward its scheduled operational milestone. Toubani is targeting becoming a gold producer in 2027.

Read the full announcement: First Drawdown Proceeds Received under Gold Stream