Toubani Resources Ltd T.TRE

Primary Symbol: TOUBF

Metals & Mining Gold

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

Toubani Resources Ltd

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Comment by draxteron Jan 13, 2012 5:02pm

249 Views

Post# 19402897

RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE

You're right, their lawyers chose a different word: Monetize Assets, in other words, liquidate assets.

Both mean that they're selling assets to pay the bondholders. Shareholders get nothing until bond hodlers are repayed, which is very unlikely they will be repaid in full.

Maintenance of Cash Balances

The Company has agreed that it and its subsidiaries will maintain in aggregate a minimum cash balance inside the People's Republic of China (excluding Hong Kong) of US$165 million and a minimum cash balance outside of the People's Republic of China (including Hong Kong) of US$140 million. The Company also has agreed to take steps to manage liquidity and to monetize assets for the repayment of the Company's indebtedness.

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