Kobo Resources Inc. has expanded its exploration portfolio in Côte d’Ivoire through new earn-in agreements, bringing 166.78 km² of additional ground under its purview. The company has also partnered to form KUNIBOA MINING Co. and applied for two more licenses. The initiatives align with Kobo’s long-term growth strategy in one of West Africa’s leading gold regions, highlighted by recent statements from CEO Edward Gosselin.
Kobo Resources Inc. has announced an expansion to its exploration strategy in Côte d’Ivoire, establishing new earn-in agreements and applying for additional licenses. This development positions the company within one of West Africa’s most promising gold regions, enhancing its exploration potential significantly.
The company has secured two earn-in agreements with NESDAVE MINING SARL, which adds 166.78 km² of exploration ground. This partnership with a local Ivorian exploration company allows Kobo to tap into strategic assets and expand its operational footprint in Côte d’Ivoire. Furthermore, Kobo has partnered with local affiliates to establish KUNIBOA MINING Co., holding a 40% stake, and has applied for two additional exploration licenses totaling 181.59 km².
Kobo’s growth strategy emphasizes its commitment to expanding its exploration activities and advancing new gold discoveries in Côte d’Ivoire. CEO Edward Gosselin expressed confidence in these new agreements, highlighting their strategic importance for the company’s long-term growth. He stated that “Côte d’Ivoire remains a highly prospective region for gold exploration, and securing additional land position supports our long-term strategy.”
The two licenses obtained from NESDAVE offer the possibility for Kobo to acquire a 90% interest over four years through staged investments totaling approximately C$1.25 million. Additionally, both licenses grant a 1% net smelter return to NESDAVE, with options for Kobo to buy back part of this return under specific conditions.
The exploration licenses sought through KUNIBOA are strategically located near the company’s existing Kotobi license. The approvals for these licenses are anticipated by 2025, which will facilitate further exploration efforts in Côte d’Ivoire.
Kobo Resources is dedicated to advancing its Kossou Gold Project, which has shown significant promise with extensive drilling and mineralization confirmation. This focused exploration is essential as the company works towards long-term growth in the region. With a history of successful exploration and an experienced leadership team, Kobo aims to solidify its position as a key player in the West African gold sector.
In conclusion, Kobo Resources Inc. is strategically expanding its operational footprint in Côte d’Ivoire through new earn-in agreements and license applications, reflecting its commitment to gold exploration and development in a region recognized for its potential. The company’s partnerships and strategic projects indicate a promising roadmap for future growth and resource discovery. As Kobo progresses with its Kossou project and other initiatives, it demonstrates a proactive approach to enhancing its exploration portfolio amid fluctuating market conditions.
Original Source: www.businesswire.com
