Goldman Sachs, a major global investment bank, has acquired a 6.587% stake in Toubani Resources (ASX:TRE), a gold developer focused on advancing its Kobada Gold Project in Mali. The bank purchased 16.95 million shares for approximately $6.5 million between late April and May 22nd. Toubani’s primary focus is on advancing its 2.2-million-ounce Kobada Gold Project, aiming for a final investment decision in the latter half of the year and commencing production in 2026. In late April, Toubani received a non-binding commitment for a minimum US$160 million debt facility from Africa Minerals and Metals Processing Platform.
This investment aligns with Goldman Sachs’ positive outlook on gold prices, predicting a rise to US$3,700 per ounce by the end of 2025 and US$4,000 per ounce by mid-2026. Toubani is focused on advancing its Kobada Gold Project. The project recently received a $160 million debt commitment letter.
