Kobo Resources Inc. has expanded its exploration portfolio in Côte d’Ivoire with new earn-in agreements and license applications, increasing its regional presence and supporting its long-term growth strategy in gold exploration.
Kobo Resources Inc. has announced the expansion of its exploration strategy in Côte d’Ivoire through the introduction of new earn-in agreements and license applications. This initiative enhances the Company’s position in one of West Africa’s most promising gold exploration regions.
The Company has entered into two earn-in agreements with NESDAVE MINING SARL, a local exploration firm, which adds 166.78 km² of exploration ground. Furthermore, Kobo established KUNIBOA MINING Co., holding a 40% stake, and applied for two additional exploration licenses totaling 181.59 km², further cementing its presence in the region.
Kobo Resources’ strategy reflects its commitment to advancing new gold discoveries in Côte d’Ivoire. Edward Gosselin, CEO, emphasized that expanding their footprint is crucial for long-term growth, focusing on the company’s continued exploration successes and new opportunities.
The NESDAVE agreements cover two gold exploration licenses, each granted a four-year term. The first license, located in the Agnibilékrou Department, covers 93.28 km². To earn a 90% interest, the Company must invest 550 million CFA F (approximately C$1.25 million) over four years. A similar investment structure applies to the second license covering 73.5 km² in the Adzopé region.
Both earn-in agreements stipulate a 1% net smelter return (NSR) for Nesdave, with Kobo retaining the option to buy back 50% of the NSR. Additionally, Nesdave could receive C$1.00 for each proven ounce of gold discovered, contingent upon a positive feasibility study leading to an exploitation license.
The Kuniboa applications consist of two proposed licenses situated near the Company’s Kotobi license and are expected to receive final approval in 2025. The first application covers 163.25 km² and the second, contiguous with the first, covers 18.34 km².
Kobo Resources Inc. is dedicated to identifying new opportunities in the gold-rich landscape of Côte d’Ivoire. Its flagship Kossou Gold Project is situated near significant gold mines and has seen substantial exploratory work completed since 2023. The Company remains focused on the development and advancement of its exploration portfolio in promising regions of West Africa, driven by a capable leadership team.
Kobo Resources Inc. is significantly expanding its exploration efforts in Côte d’Ivoire through new agreements and applications, underscoring its commitment to uncovering gold opportunities. With a strategic vision for growth, the Company is poised to enhance its footprint in a highly prospective gold district, supported by solid partnerships and ongoing exploration success.
Original Source: www.businesswire.com
