SYDNEY, AUSTRALIA: Toubani Resources Inc. (ASX: TRE) introduced that Mr Phil Russo has agreed to join the Company as Chief Executive Officer and Executive Director, commencing ninth January 2023.
Following the Company’s profitable ASX itemizing in November and in line with the Company’s Prospectus, Toubani has moved to nominate an Australian-based Chief Executive Officer with broad corporate, project development and capital markets expertise to advance the Company’s technique to extend its market profile in Australia and globally, in addition to unlocking the significant, untested exploration potential throughout the Kobada gold project.
As a half of the appointment of Mr Russo, present Chief Executive Officer and Executive Director, Danny Callow will transition to Executive Chairman until mid-2023, earlier than moving to Non-Executive Chairman.
Current Non-Executive Chairman Jan-Erik Back will transfer to a Non-Executive Director role. They will join present Non-Executive Directors Mr Tim Kestell and Mr Douglas Jendry.
Toubani Resource’s Executive Chairman, Mr. Danny Callow, commented: “I am very happy to announce the appointment of Mr Phil Russo because the brand new Chief Executive Officer of Toubani Resources.
With Phil’s integral knowledge of capital markets and strong relationships within the industry, I am assured that under his direction we will see a really positive motion within the worth of the Company, underpinned by the numerous technical work already accomplished on the Kobada gold project.
I believe that with Phil’s experience, coupled with my knowledge of the project, native nation relationships, and strong team on the ground, we’re well positioned for growth.
We believe that there’s substantial upside in rising the size of the useful resource at our flagship Kobada project and Phil is well positioned to steer this Company to the subsequent level.”
Toubani Resource’s Chief Executive Officer, Mr. Phil Russo, commented: “Feasibility-level projects with the Mineral Resource and Ore Reserve estimates of the Kobada project are uncommon within the gold sector. Even rarer for projects of this size and scale are these with the potential for significant useful resource growth. Kobada’s potential for expansion outside the present Mineral Resource, in addition to for new regional discoveries, is very clear.
Combined with Toubani’s present compelling valuation versus its peers, the important thing drivers are there to unlock substantial worth over time as we place to systematically drill Kobada towards growth and ultimately, additional optimization of the Kobada feasibility study forward of a future development decision.
I look forward to working with the Toubani Board and administration team to ship on our objectives of advancing Kobada towards manufacturing and rewarding all our stakeholders within the process.”