Matt Wilcox Joins Toubani Resources' Board Following $750 Million Tietto Minerals Takeover

Experienced gold operator Matt Wilcox has been appointed as a non-executive director to the board of Toubani Resources, an aspiring gold developer. This strategic move follows Wilcox's successful facilitation of a $750 million takeover of Tietto Minerals by China's Zhaojin Capital.

Wilcox brings a wealth of African mining experience to Toubani Resources. He managed the full development of Tietto's Abujar project in Côte d'Ivoire and its gold operations, achieving a quarterly production record at Abujar. Additionally, he led the construction and commissioning of the Abujar gold plant on time and below budget.

Why this matters: The appointment of Matt Wilcox to Toubani Resources' board has significant implications for the gold mining industry, particularly in West Africa. This move could lead to increased investment and development in the region, potentially boosting the local economy and creating new job opportunities.

Wilcox's extensive background includes eight years at Nord Gold, where he led the construction of several gold projects in West Africa. He also played a crucial role in the construction of West African Resources' Sanbrado gold mine in Burkina Faso, completed ahead of schedule and under budget in March 2020.

Toubani Resources' flagship project, the Kobada gold project in Mali, is an oxide-dominant deposit covering a 136-square-kilometre mining permit valid until 2045. The resource totals 87 million tonnes at 0.84 grams per tonne gold for 2.4 million ounces. Recent drilling results have shown promising assays, including a 57m section grading 2.48g/t gold and a 19m intercept going 20.6g/t gold.

In addition to Wilcox's appointment, Toubani Resources has announced a boardroom reshuffle. Scott Perry will assume the executive-chairman position, while Danny Callow will transition to a non-executive director role. This reshuffle is expected to strengthen the company's leadership as it advances the Kobada project.

Toubani Resources has also bolstered its definitive feasibility study (DFS) team, appointing three new members: Marc Rowley, Dave Clark, and Dhanu Anandarasa. These new members will work alongside existing technical team members Bill Oliver and Kerry Griffin to deliver the Kobada DFS.

Phil Russo, CEO of Toubani Resources, expressed his confidence in the new appointments, stating, "The addition of Matt to our Board of Directors and the wealth of experience he has in designing, constructing and operating mines in West Africa will benefit Toubani enormously as it advances with momentum towards developing the next gold mine in West Africa."

With Wilcox's extensive experience and the strengthened DFS team, Toubani Resources is well-positioned to advance the Kobada gold project and achieve its development goals. The company aims to deliver its DFS in a timely manner, capitalizing on Mali's status being the fourth-biggest gold producer in Africa.

The appointment of Matt Wilcox to Toubani Resources' board, along with the recent boardroom reshuffle and the bolstering of the DFS team, marks a major milestone in the company's progress towards developing the Kobada gold project in Mali.

Key Takeaways

• Matt Wilcox appointed as non-executive director to Toubani Resources' board.
• Wilcox brings extensive African mining experience, including Abujar project development.
• Toubani Resources' Kobada gold project in Mali has 2.4 million ounces of gold resources.
• Boardroom reshuffle: Scott Perry as executive chairman, Danny Callow as non-executive director.
• Definitive feasibility study team bolstered with three new members.