Kobo Resources Inc. has expanded its exploration strategy in Côte d’Ivoire with new earn-in agreements and license applications, enhancing its presence in the region’s gold exploration market. The company has partnered with NESDAVE MINING SARL and established KUNIBOA MINING Co., advancing its long-term growth. CEO Edward Gosselin highlighted the significance of this move for future gold discoveries.
Kobo Resources Inc., a gold exploration company based in Quebec City, announces its exploration expansion in Côte d’Ivoire through new earn-in agreements and license applications. This initiative enhances the company’s presence in one of the most promising gold regions in West Africa. By collaborating with local companies, Kobo aims to explore and develop valuable gold discoveries in the area.
The company signed two earn-in agreements with NESDAVE MINING SARL, a local Ivorian exploration entity, adding 166.78 km² of exploration land. These agreements reflect Kobo’s strategy to bolster its exploration footprint while partnering with local firms to ensure growth in Côte d’Ivoire.
Additionally, Kobo has established KUNIBOA MINING Co., in which it holds a 40% stake as the largest shareholder. Through Kuniboa, the company applied for two more exploration licenses, expanding its overall portfolio in Côte d’Ivoire by an additional 181.59 km², demonstrating Kobo’s commitment to expanding its regional presence.
Edward Gosselin, CEO of Kobo, emphasized that securing additional land supports the company’s long-term growth. He highlighted the importance of Côte d’Ivoire as a prospective area for gold exploration, ensuring strategies are in place to evaluate and develop new target areas effectively.
Overview of the Nesdave earn-in agreements reveals that Nesdave received two exploration licenses via Presidential Decree with four-year terms and supervision from experienced Ivorian geologists. The first license covers 93.28 km² near Ghana, while the second encompasses 73.5 km² in southeastern Côte d’Ivoire. Each license allows Kobo to acquire a 90% interest through specified investments over the course of four years.
Under these agreements, there will also be a 1% net smelter return granted to Nesdave, although Kobo retains an option to repurchase a portion of this return. Furthermore, Nesdave will receive a bonus for proven gold resource discoveries, contingent upon a successful feasibility study.
KUNIBOA’s applications consist of two exploration license requests located near existing company holdings. These licenses total 181.59 km² and are strategically located near the company’s Kotobi license, with anticipated approval by 2025, enhancing Kobo’s exploration capabilities.
As a gold exploration company, Kobo Resources aims to capitalize on the promising gold landscape of Côte d’Ivoire. By leveraging local partnerships and expanding its exploration grounds, Kobo continues to position itself for future growth with ambitious drilling and development plans already in motion at its Kossou Gold Project, which has garnered significant advancement with extensive drilling activities.
Kobo Resources is making strides in expanding its exploration portfolio in Côte d’Ivoire through new agreements and license applications. By partnering with local entities and increasing its land holdings, the company is strategically positioning itself for long-term growth in one of West Africa’s most promising gold districts. With a robust exploration strategy and positive prospects ahead, Kobo aims to continue making significant progress in gold discovery and development.
Original Source: www.businesswire.com
