Cashed-up Cora posts results for 2024, closes in on DFS for Sanankoro
Cora Gold () closed out 2024 with U$879,000 in cash, after posting a loss of just over US$1 million for the 12 months to December 31st.
During the first quarter of 2024, US$2.3 million worth of loan notes were converted into nearly 82 million shares.
Post the period end, in April 2025, Cora raised £1.55 million via a subscription of shares at 4.75p each.
The focus continues to be on the Sanankoro gold project in southern Mali. During the period sampling identified four primary and four secondary gold bearing structures, representing approximately 50 km of cumulative strike length of highly prospective terrain for exploration targeting, giving good confidence on the ability to extend the resource inventory and life of mine at Sanankoro.
The company also delineated a million ounce gold resource, with nearly 700,000 ounces in the indicated category grading more than 1.1 grams per tonne.
“With the gold price recently trading at new record highs this is an opportune time to be developing the Sanankoro gold project,” said Cora chief executive Bert Monro.
"We have worked hard this past year to build the resource and, in turn, the life of mine potential at Sanankoro, which will feed into an updated DFS due later this year. This is expected to confirm significant improvements in the project's already robust economics. Our key objectives now are to complete the updated DFS and concurrently complete the mine permitting process, so that mine finance can be concluded, and construction can commence.”
View from Vox
Good progress being made here against the backdrop of a strong gold price and a slowly stabilising situation in Mali. The next steps will be crucial. No doubt the DFS will show sobust economics, but can Bert Monro get the project financed? It’s a big test.
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