Kobo Resources Expands Exploration Portfolio in Côte d’Ivoire with New Agreements and License Applications

Kobo Resources Inc. expands its exploration portfolio in Côte d’Ivoire through new earn-in agreements with NESDAVE MINING SARL, adding 166.78 km² of exploration ground. The company establishes KUNIBOA MINING Co. to apply for further licenses totaling 181.59 km². This expansion aligns with Kobo’s long-term growth strategy, enhancing their presence in a region known for its gold potential.

Kobo Resources Inc., based in Quebec City, has announced a strategic expansion of its exploration activities in Côte d’Ivoire. This initiative stems from new earn-in agreements and the application for additional licenses, allowing the company to tap into the rich gold potential of West Africa. This expansion enhances Kobo’s position within one of the region’s most prospective gold mining areas.

The company has formed two earn-in agreements with NESDAVE MINING SARL, a local Ivorian exploration firm, which introduces an additional 166.78 km² of exploration territory. Furthermore, Kobo has established KUNIBOA MINING Co., acquiring a 40% share and applying for two new exploration licenses totaling 181.59 km², allowing for increased regional presence in Côte d’Ivoire.

Kobo emphasizes that this expansion aligns with its long-term growth strategy focused on discovering and developing new gold resources in Côte d’Ivoire. CEO Edward Gosselin stated, “Expanding our exploration footprint in Côte d’Ivoire is a key element of Kobo’s long-term growth strategy.” He remarked on the strategic significance of obtaining additional land for systematic evaluations and advancing new target areas within the region.

The earn-in agreements detail that NESDAVE holds two gold exploration licenses, each operating over four years, with the potential for Kobo to acquire a 90% interest by investing CFA 550 million (approximately C$1.25 million). The investment framework outlines an initial spending requirement and upfront payments to NESDAVE. Each agreement also includes a 1% net smelter return for NESDAVE, with the opportunity for Kobo to repurchase half of this return.

In conjunction with the earn-in agreements, the new license applications through Kuniboa are strategically located 40 to 60 km from existing licenses, cementing Kobo’s ongoing development. These applications are set to be submitted for approval, with final authorization expected in 2025.

Kobo’s exploration endeavors also include the Kossou Gold Project, which is making notable progress through extensive drilling. The Kossou Project is strategically positioned near other significant gold mines. The company is committed to exploring various high-priority targets demonstrating substantial mineralization potential.

In summary, Kobo Resources is strategically enhancing its exploration initiatives in Côte d’Ivoire with new earn-in agreements, license applications, and a strong growth strategy aimed at capitalizing on the region’s gold opportunities. This expansion represents a positive trajectory for the company as it aims to bolster its presence and success in West Africa’s evolving gold landscape.

In conclusion, Kobo Resources Inc. is effectively broadening its exploration portfolio in Côte d’Ivoire through strategic agreements and license applications. The establishment of partnerships with local companies enhances its regional presence and aligns with its long-term growth objectives. With significant investments planned and ongoing exploration at the Kossou Gold Project, Kobo demonstrates a strong commitment to tapping into Côte d’Ivoire’s promising gold potential.

Original Source: www.juniorminingnetwork.com