Investor Insight
With promising early drill results, favourable jurisdictional dynamics and strong institutional backing, Kobo Resources presents a compelling opportunity for investors seeking exposure to high-value gold exploration in West Africa’s world-class mining frontier.
Overview
Kobo Resources (TSXV:KRI) is a gold exploration company focused on unlocking the untapped mineral potential of West Africa, with its primary operations based in Côte d’Ivoire. The company’s flagship Kossou Gold Project (KGP) is strategically positioned adjacent to Perseus Mining’s (TSX:PRU) Yaouré Gold Mine, a major producing operation, giving Kobo a competitive advantage through shared infrastructure, skilled local labor and logistical accessibility.
Kobo Resources is at the centre of Côte d’Ivoire’s rapidly expanding mining sector.
Côte d’Ivoire offers a mining-friendly jurisdiction with growing geopolitical stability and a supportive regulatory framework. Kobo is capitalizing on the country’s strong gold production momentum, as West Africa continues to lead globally in gold discoveries. The region stands out for its rapid exploration-to-production timelines, averaging just 10 years – significantly shorter than the global average of 16. The Kossou Gold Project benefits from geological characteristics similar to those of the adjacent Yaouré deposit, enhancing the credibility of its resource base and future economic potential.
Kobo’s investment value proposition is supported by a strong leadership team with decades of technical, financial and in-country experience. Backed by strategic partner Luso Global Mining, a subsidiary of engineering and mining giant Mota-Engil, Kobo has secured not only capital during its previous equity raise but also access to the strengths of an end-to-end mining development services giant. The team’s phased exploration strategy and disciplined execution reflect Kobo’s commitment to delivering shareholder value through near-term catalysts such as updated technical reports, metallurgical studies and an aggressive 2025 drill campaign targeting a maiden resource estimate in 2026.
Kobo Leadership team from L-R: Chris Picken, exploration manager; Paul Sarjeant, director, president and COO; and Édouard Gosselin, CEO, director and corporate secretary
Financially, Kobo maintains a lean capital structure with no debt, strategic backers and significant insider ownership, aligning management interests with those of investors. The company raised $7.4 million in 2024 to fund ongoing exploration efforts and has positioned itself to benefit from potential consolidation in Côte d’Ivoire’s rapidly maturing gold sector.
Company Highlights
- Mining-friendly and Underexplored Location – Côte d’Ivoire’s gold production has grown significantly but still trails neighboring countries.
- Prime Location with Infrastructure Advantage – The Kossou Gold Project (KGP) is 40 km from Yamoussoukro and 9.5 km from a major operating gold mine.
- Proven Gold Discoveries with Strike Continuity – 24,471 m drilled at KGP with multiple mineralized zones that remain open along strike and depth.
- Promising Secondary Project – Kotobi gold project offers early-stage exploration upside in a highly prospective greenstone belt.
- Aggressive Growth and Near-term Milestones – +/- 20,000 m 2025 drill program targeting priority zones and advancing toward a potential MRE in 2026 with a strong project pipeline.
- Strong Team and Strategic Backing – Decades of exploration success combined with a strategic partnership with Luso Global Mining (Mota-Engil).
Key Projects
Kossou Gold Project
Aerial view of the Kossou gold project in proximity to nearby infrastructure and operators
The Kossou gold project (KGP) is Kobo Resources’ flagship asset and the cornerstone of its exploration strategy in Côte d’Ivoire. Situated just 40 km from the capital city of Yamoussoukro and adjacent to Perseus Mining’s (TSX:PRU) producing Yaouré Gold Mine, the Kossou gold project offers exceptional geographic advantages. Its proximity to key infrastructure, including roads, power and mining services, significantly reduces barriers to development. Covering a 110-sq-km permit area, the project is nestled within the Birimian greenstone belt, a prolific geological zone renowned for hosting major gold deposits across West Africa. This strategic location provides Kobo with logistical efficiencies and exploration potential in a rapidly growing mining jurisdiction.
Kossou is defined by a trio of high-priority mineralized zones: the Jagger, Road Cut and Kadie Zones, which together represent five kilometers of combined strike length and more than 24,000 meters of drilling to date. These zones have shown consistent gold mineralization, with notable intercepts such as 38.2 m at 1.55 g/t gold (Jagger Zone), 11 m at 6.77 g/t gold (Road Cut Zone), and 9 m at 23.89 g/t gold (Kadie Zone), including an exceptional 1 m section grading 210 g/t gold. These results affirm the continuity of mineralization and point to the potential for an open-pit mining operation with scalable upside. Kobo’s exploration methodology, which combines soil geochemistry, trenching and phased drilling, are both cost-effective and technically sound.
The geology at the Kossou gold project is closely tied to the Bouaflé greenstone belt and features a mix of mafic volcanics and volcano-sedimentary rocks characteristic of the Paleoproterozoic Birimian Group. Mineralization occurs within a 500-m wide and +3-km long north-northwest trending shear corridor known as the Contact Zone Fault.
Beyond its technical merits, the Kossou gold project represents a compelling value proposition due to its combination of scale, grade and development readiness. Kobo has already completed 24,000+ m of drilling so far, with an additional 20,000-m program planned for H2 2025 aimed at delivering a maiden mineral resource estimate in 2026.
Yakassé Gold Project – Opportunity
The Yakassé project is located approximately 100 km northeast of Abidjan and is easily accessible by paved and gravel roads. The 74.06 sq km permit application lies within a highly prospective region characterized by NE-SW trending Birimian metavolcanic and metasedimentary units intruded by granitoids. Gold mineralization in the area is structurally controlled, associated with shear zones and quartz veining, and has been the focus of significant historic artisanal and small-scale mining activity.
Previous exploration by reputable operators, including, most recently, Newmont (2007–2010), outlined widespread gold anomalies and confirmed the potential for mineralized systems at the Yakassé Project. Newmont’s work included extensive soil geochemistry, auger drilling, and over 3,500 m of RC drilling. Several broad, near-surface gold intercepts were reported, including 44.0 m at 2.32 g/t gold, 48.0 m at 1.20 g/t gold, and 20.0 m at 1.69 g/t gold, highlighting the strong mineral potential associated with NE-SW trending shear zones. Importantly, Kobo believes the structural trends observed at Yakassé may represent parallel systems to those present at its nearby Nesdave permit and Kuniboa application, underscoring the broader regional opportunity to consolidate and explore an underexplored but prospective gold corridor in southeastern Côte d’Ivoire.
The Yakassé gold project is supported by historical exploration work from major operators on prospective ground.
Kotobi Project
The Kotobi gold project (302 sq km) is Kobo Resources’ secondary exploration asset, located in the Moronou region of central-eastern Côte d’Ivoire. Exploration efforts at Kotobi have included a UAV magnetic survey covering the entire property, totaling 1,565 line-kms, a geophysical analysis, soil geochemical sampling, geological mapping and rock sampling. These activities aim to refine exploration as trenching is now underway targets with the goal of identifying drilling targets in the near future. The project benefits from excellent infrastructure, including well-established roads, water and power access, as well as proximity to major cities and established processing facilities.
Growth Opportunities: Earn-in Agreements & Permit Applications
In addition to its 100-percent-owned permits covering a total of 412 sq km(KGP and Kotobi), Kobo Resources has significantly expanded its regional exploration footprint in Côte d’Ivoire through strategic earn-in agreements and permit applications, totalling over 700 sq km of additional exploration opportunity. These pending applications and permits are largely underexplored, offering Kobo a unique opportunity to unlock new gold discoveries in proximity to its existing Kossou and Kotobi projects.
Pending research permit applications:
- Bocanda South – 341.6 sq km
- Kuniboa North- 163.2 sq km
- Kuniboa South – 18.3 sq km
- Yakassé Gold Project – 74.06 sq km
Nesdave Mining earn-in opportunities:
- PR0970 – 93.3 sq km
- PR0973 – 73.5 sq km
Management Team
Edouard Gosselin – CEO, Director and Corporate Secretary
Edouard Gosselin, co-founder of Kobo Resources, is a seasoned attorney and member of the Quebec Bar since 1984. He has privately represented financial institutions, corporations and individuals in commercial law, banking, bankruptcy, reorganizations and startups across tech and industrial sectors and is a seasoned entrepreneur. He has been involved in Côte d’Ivoire since 2012.
Paul Sarjeant, P.Geo., – Director, President and COO
Paul Sarjeant is a professional geoscientist and co-founder of Kobo Resources. He is a mining professional with over 35 years of experience in exploration, development and mining, including 15 years as senior geologist at Echo Bay Mines (Kinross), evaluating international projects. More recently, he was manager of geology at Largo.
Carmelo Marelli – CFO
Carmelo Marrelli is the principal of the Marrelli Group, which includes Marrelli Support Services, DSA Corporate Services and other related entities. A chartered professional accountant (CPA, CA, CGA) and member of the Institute of Chartered Secretaries and Administrators, he serves as CFO for several TSX, TSX Venture Exchange and CSE-listed companies, as well as non-listed companies, and is a director of select issuers.
Chris Picken – Exploration Manager
Chris Picken has over 35 years of experience in the mineral exploration industry, working as a geologist, exploration manager and COO. He has worked with major, mid-tier and junior exploration companies across Africa and South America. For the past decade, he has focused on Archaean and Birimian gold terrains in West Africa, including Côte d’Ivoire, Liberia and Sierra Leone. He led the Yaouré gold deposit feasibility studies from 2014 to 2018.
Frank Ricciuti – Director and Chairman of the Board
Frank Ricciuti was president of Efjay Consulting, providing management and financial services, including organizational structuring and corporate finance. He served as a director for Novik (2006-2014) and Petrolympic (2008-2019) and was Kobo’s vice-president, corporate development from 2015 to 2021.
Brian Scott – Independent Director
Brian Scott, a geologist with over 35 years of global experience, has worked on diverse deposit types including porphyries in the Andes and orogenic gold deposits in West Africa, Canada and beyond. He spent 30 years with Bema Gold (later acquired by Kinross) and B2Gold, where he served as VP geology and technical services.
Vivek Dharni – Director
Vivek Dharni is a business leader with over 20 years of experience in corporate development and finance, focusing on resources, infrastructure and renewable energy. He drives transformational change through sustainable growth strategies that benefit society and elevate stakeholder value. He has held roles at HDFC, Mota-Engil and Rio Tinto, and currently serves as head of mergers & acquisitions for Mota-Engil in Africa and the Middle East.
Jeff Hussey – Independent Director
Jeff Hussey, a professional geologist with 36 years of experience, and holds a B.Sc. in Geology from the University of New Brunswick (1985). He serves on the boards of Brunswick Exploration and Osisko Metals, where he is president and COO. Previously, he was president and CEO of Osisko (2017-2020). With experience in both open pit and underground operations, he also consulted for major mining companies, including Champion Iron Mines, helping raise over $70 million for corporate development. He is currently CEO of PinePoint Mining Ltd.
Patrick Gagnon – Independent Director
Patrick Gagnon is a retired executive with over 25 years in the financial and brokerage industry. He is an active private investor in technology, resources and consumer products. He began his career as a research assistant, later becoming a research analyst, trader and institutional sales professional. From 1995 to 2015, he was a partner at GMP Securities and served as managing director of its Montreal office.