Kobo Resources Inc. is expanding its exploration portfolio in Côte d’Ivoire with two earn-in agreements and additional license applications, adding 166.78 km² and 181.59 km² respectively. This strategic expansion aligns with Kobo’s growth strategy, enhancing opportunities in a region well-known for gold mining. CEO Edward Gosselin highlights the significance of this expansion amid ongoing exploration projects.
Kobo Resources Inc. is delighted to announce its strategic expansion in Côte d’Ivoire through new earn-in agreements and license applications, aiming to enhance opportunities in one of West Africa’s most promising gold exploration areas. The company is poised for growth, targeting new gold discoveries while solidifying its market presence.
The company has entered into two significant earn-in agreements with NESDAVE MINING SARL, acquiring an additional 166.78 km² of exploration area. This move significantly boosts Kobo’s presence in Côte d’Ivoire, a region known for its high gold potential. Furthermore, Kobo has formed a new venture, KUNIBOA MINING Co., in collaboration with local partners, which will hold a 40% stake, responsible for applying for two more exploration licenses totaling 181.59 km².
Kobo’s long-term growth strategy is evident in its commitment to advancing new gold exploration projects in Côte d’Ivoire. Edward Gosselin, CEO and Director of Kobo, emphasizes that expanding their footprint is essential for capitalizing on the region’s gold prospects and enhancing evaluation efforts in targeted areas. The company continues its progress in exploration projects like Kossou and Kotobi, reflecting its ambition to grow its portfolio further.
The details of the Nesdave earn-in agreements reveal that each agreement offers a chance to obtain a 90% interest in exploration licenses through financial investment over four years, alongside an upfront fee and shares granted to Nesdave. Moreover, they provide a 1% net smelter return to Nesdave, whom retains rights to a portion of any gold discovered.
The applications for exploration licenses filed through Kuniboa are strategically located near existing licenses and are expected to receive final approval shortly. These licenses add to Kobo’s existing portfolio and reinforce its commitment to expanding exploration capabilities in Côte d’Ivoire, a known gold-rich zone.
In conclusion, Kobo Resources Inc. is strategically enhancing its exploration activities in Côte d’Ivoire through new agreements and applications. The formation of partnerships like Kuniboa and substantial investments in earn-in agreements demonstrate the company’s commitment to long-term growth and resource development in this promising region. With ongoing exploration activities bolstering its portfolio, Kobo positions itself as an emerging leader in West African gold exploration.
Original Source: www.businesswire.com
