• Kobo to raise up to C$5.52 million for Côte d’Ivoire exploration
• Funds target Kossou drilling, maiden resource estimate by mid-2026
• Company advances Kotobi prospects amid supportive gold price outlook

Canadian junior miner Kobo Resources announced Monday its intention to raise up to C$5.52 million (approximately $4 million) through a private placement, with proceeds earmarked to accelerate exploration in Côte d'Ivoire, particularly at its Kossou project, where the company expects to make its first discovery this year.

"Closing of this financing will allow us to continue advancing the Kossou Gold Project through ongoing drilling as we work toward a maiden resource estimate. At the same time, we are preparing to begin drilling at Kotobi, where we have already identified several priority gold targets supporting additional growth prospects. Beyond these projects, the Company also remains focused on building a pipeline of growth opportunities in Côte d’Ivoire through disciplined exploration and evaluation of additional ground," Chief Executive Edward Gosselin said.

Kossou, Kobo's primary asset, has already seen nearly 41,000 meters of drilling, which has identified several promising targets. Based on those results, the company plans to publish an initial mineral resource estimate by mid-2026, a key milestone that would technically confirm a discovery at the site. While the expected proceeds are intended to support that objective, the private placement remains subject to required approvals, with closing expected around March 31.

The successful execution of Kobo's plans at Kossou is expected to be pivotal for its broader development in Côte d'Ivoire, laying the groundwork for a potential future mine. The other project in its portfolio, Kotobi, is part of that broader strategy, though it remains at an earlier stage. Rising gold prices also represent a supportive factor for Kobo's strategy. Despite some loss of momentum in the rally of recent months, the outlook remains positive, with prices forecast to reach record highs by end-2026.

Pending a potential discovery at Kossou, Côte d'Ivoire already hosts several more advanced exploration projects totaling several million ounces of mineral resources, including Aurum Resources' Boundiali project and Turaco Gold's Afema project.

Aurel Sèdjro Houenou