What you need to know: • Kobo announced the commencement of its 2025 diamond drill program at its 100% owned Kossou Gold Project in Côte d'Ivoire. • The 2025 program will consist of between 20,000-30,000m of diamond drilling, the largest program on the project since initial discovery. • Kobo is a gold exploration company with a focus in Côte d'Ivoire, a country getting increasing attention from the mid-tier and major firms. • Earlier this month, we initiated coverage on KRI, read the report here. This morning, Kobo Resources (KRI:TSXV) announced the commencement of its 2025 diamond drill program at its 100% owned Kossou Gold Project in Côte d'Ivoire. As previously guided, the Company plans to drill 20,000-30,000m of diamond drilling across its various targets. KRI also highlighted that it will continue advancing regional exploration, deriving new targets at the Kotobi Permit. We are maintaining our BUY rating and $0.55/share target price on KRI. 2025 Exploration Program The exploration program is expected to consist of a total 20,000-30,000m of diamond drilling. The program will be phased, allowing time for KRI to review the results of each phase before starting the next. We remind readers of KRI’s short assay turnaround time of ~5 days and its extremely low cost of drilling of C$203/m. The initial phase will consist of 5,000-6,000m at the Jagger and Road Cut Zones, two of the most advanced gold targets at Kossou. This phase aims to establish the mineralization model and test the mineralization at depth. At the Jagger Zone, drilling will target the mineralized corridor in 200m+ step outs and at depth (the majority of drilling to date has been above 200m vertical depth). At the Road Cut Zone, drilling will focus on establishing a mineralization model and derive new high-priority zones for future drilling. Kobo is also planning several holes to test the gap between the southern extent of the Road Cut Zone and the northern drilled extent of the Jagger Zone, a ~400m untested gap. Throughout the year, KRI will continue with regional exploratory work, including soil sampling, mapping, and rock sampling across the Kotobi Permit to derive new targets for future trenching and drill programs.