ASX-listed Toubani Resources has selected Lycopodium as lead engineer for the updated definitive feasibility study on its proposed Kobada gold project in southern Mali.
Lycopodium will focus on process flowsheet optimisation, plant design, and capital and operating cost estimates. The DFS is scheduled to be wrapped up in the first quarter next year.
The ASX-listed engineering company had “an impressive history in Mali and West Africa”, Toubani said.
Toubani’s 2021 DFS outlined plans for circa-100,000 ounce-per-annum production from a three million tonnes per annum processing plant and 24Mtpa mining rate.
“The DFS update will utilise the recent mineral resource update as the foundation for the Kobada pit design and mine planning,” the company said.
“With some 1.5Moz in shallow, free-digging oxide mineral resources, we are able to plan an oxide-focused project phase over an extended life leveraging the technical strengths that make Kobada compelling.”
Toubani has a current market value around A$13.8 million.