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.

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Toubani Resources Ltd > Settlement payment

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Comment by slacker101on Oct 31, 2015 4:46pm

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Post# 24247279

RE:RE:Settlement payment

With all due respect, I have a hard time believing the cheques will be issued any time soon given the settlement with the underwriters was rejected by the court. Once the matter is finally settled I would estimate another 6 to 12 months to finalize any lesser issues, head back to court to request approval for payment and then make payment. We have a long road ahead of us.

On a similar note, I don't know what everyone is estimating as payment, but experience tells me we might get 5 cents to 10 cents on the dollar of the allowable claim. It's something but not nearly enough.

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