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 Preteriston Jun 08, 2012 1:44pm

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Post# 19993975

The Actual News

Why does everyone say it is just a restructuring? Read carefully...

"TORONTO, CANADA – June 8, 2012 – Sino-Forest Corporation (“Sino-Forest” or the “Company”) announced today that holders of approximately 72% of the aggregate principal amount of the Company's outstanding notes have agreed to be parties to the restructuring support agreement (the "Support Agreement") entered into by, among others, the Company and an ad hoc committee of its noteholders (the "Ad Hoc Committee") on March 30, 2012, which provides for the material terms of a transaction (the "Transaction") which would involve either a sale of the Company to a third party or a restructuring under which the noteholders would acquire substantially all of the assets of the Company, including the shares of all of its direct subsidiaries which own, directly or indirectly, all of the business operations of the Company."