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Toubani Resources Ltd T.TRE


Primary Symbol: TOUBF

Toubani Resources Ltd is an Australia-based exploration and development company. The Company is focused on advancing gold development projects with its oxide dominant Kobada Gold Project. The Kobada Gold Project is located in southern Mali, approximately 125 kilometers (kms) on a straight-line south-southwest of the capital city, Bamako, and is situated adjacent to the Niger River and the international border with Guinea. The Kobada Gold Project is based on one mining exploitation permit (Kobada) of 136 square kilometers (km2) and two exploration permits (Faraba and Kobada Est) of 77 km2 and 45 km2. The Kobada main deposit hosts 2.4 million ounces (Moz) of predominantly free-dig, oxide gold over a strike extent of 4.5 kilometers, which is also open at depth with mineralization open down dip. Toubani Resources Mali SARL is the wholly owned subsidiary of the Company.


OTCPK:TOUBF - Post by User

Bullboard Posts
Post by ModelT1on Jul 27, 2011 9:48am
272 Views
Post# 18877551

Today's BNN headline story........

Today's BNN headline story........
A large Singapore-based fund has acquired more shares of Sino-Forest (TRE-T 7.73 0.61 8.57%), taking its ownership stake in the Chinese forestry company accused of fraud to nearly 15 percent.

The Mandolin Fund, run by New Zealand-born billionaire Richard Chandler, disclosed on Wednesday it acquired more than 5.3 million shares of Sino-Forest on July 26.

The fund's move explains a sharp rise in Sino-Forest's share price on Tuesday, when the stock climbed more than 20 percent before ending the day up almost 12 percent.

Shares of the Toronto-listed Sino-Forest have fallen more than 60 percent since the beginning of June, following accusations of fraud leveled by influential short-seller Carson Block and his firm Muddy Waters.

Sino-Forest has denied any wrongdoing and it has asked a committee of independent directors to investigate the matter.

The stock, which had fallen as low as $1.29 in mid-June, has won a reprieve as speculators and large funds such as Mandolin Fund and Boston-based Wellington Management Co decided to raise their stakes in the company.

Just a week ago, the Mandolin fund disclosed that it had boosted its stake in Sino-Forest to more than 10 percent. Since then Sino-Forest's shares have risen over 66 percent.
Bullboard Posts