Kobo Resources Inc. is expanding its exploration in Côte d’Ivoire with new earn-in agreements and license applications. The agreements with NESDAVE MINING SARL will enhance the company’s gold exploration territory by approximately 166.78 square kilometers. Additionally, Kobo plans to strengthen its position through partnerships and applications for further exploration licenses, focusing on long-term growth in gold discovery.
Kobo Resources Inc. is strategically enhancing its exploration activities in Côte d’Ivoire by entering into new earn-in agreements and submitting license applications, focusing on gold exploration in a region recognized for its substantial potential.
The company has formed two earn-in agreements with NESDAVE MINING SARL, an Ivorian exploration company, which enables Kobo to gain 166.78 square kilometers of promising exploration territory. Additionally, Kobo has established a partnership with local entities to create KUNIBOA MINING Co., where it holds a 40% stake and has applied for two further exploration licenses comprising 181.59 square kilometers.
Kobo’s approach aligns with its long-term growth strategy, emphasizing the importance of a broader exploration footprint. Edward Gosselin, CEO of Kobo, remarked on the significance of these developments in reinforcing the company’s commitment to exploring new gold resources in Côte d’Ivoire, a region with considerable exploration potential.
The two earn-in agreements involve exploration licenses originally granted to Nesdave, each with a four-year term. The first license, PR-0970, covering 93.28 square kilometers, is situated near Ghana, with a 90% ownership opportunity contingent on an investment of approximately C$1.25 million. The second license, PR-0973, spanning 73.5 square kilometers, is located in the southeast, maintaining similar investment conditions.
Both licenses grant Nesdave a 1% net smelter return, with Kobo retaining the option to buy back half of this return. Additionally, a bonus payment is stipulated based on successful gold discoveries linked to a positive Feasibility Study.
Kobo’s license applications through Kuniboa not only expand its geographical hold but also directly connect to its existing Kotobi license. These applications are currently progressing through the necessary governmental channels, with approval anticipated in 2025.
Kobo Resources remains dedicated to advancing its exploration strategies, specifically in the Kossou Gold Project located near Yamoussoukro, which has exhibited significant prospective gold deposits. The company aims to systematically evaluate multiple targets within its established exploration framework.
In summary, Kobo Resources Inc. is not only expanding its exploration portfolio in Côte d’Ivoire but is also making significant strides in developing its gold assets. With its strategic agreements and applications, Kobo is well-positioned to take advantage of the region’s potential for gold exploration.
In conclusion, Kobo Resources Inc. is significantly expanding its exploration portfolio in Côte d’Ivoire through strategic partnerships and license applications targeting gold resources. The company’s proactive measures, including new earn-in agreements with NESDAVE and the establishment of KUNIBOA MINING Co., highlight its commitment to long-term growth in a promising mining region, further supported by advancements at its Kossou Gold Project. These initiatives position Kobo favorably for future exploration successes.
Original Source: www.juniorminingnetwork.com
