Cora Gold Closes £15.7m Fundraise and Expands Share Option Pool

Cora Gold ( (GB:CORA) ) has provided an update.

Cora Gold Limited, the AIM-quoted West African gold developer, has closed a previously announced fundraise, securing gross proceeds of £15.707 million and boosting its cash and cash equivalents to more than US$20.5 million. The strengthened balance sheet supports the company’s efforts to advance its flagship Sanankoro Gold Project in Mali, which is backed by a Definitive Feasibility Study showing strong economic returns.

Following completion of the raise, the board granted 28,150,000 share options to directors, management and consultants, representing 3.68% of issued share capital and exercisable at 8p per share, a modest premium to the recent market price. The new options, which vest in tranches through 2027 and expire in 2031, take total options to 65.7 million, or 8.6% of current share capital, indicating a more incentive-heavy capital structure that could support retention and alignment but also introduces potential future dilution for shareholders.

More about Cora Gold

Cora Gold Limited is a West Africa-focused gold developer with project areas in Mali and Senegal, operating within two established regional gold belts. The company is led by a team with a track record of multi-million-ounce discoveries and is primarily focused on advancing the Sanankoro Gold Project in Mali’s Yanfolila Gold Belt into an open-pit oxide mine.

Sanankoro holds a Probable Reserve of 531 koz at 1.13 g/t Au, underpinned by a 2025 Definitive Feasibility Study indicating robust economics including a 65% post-tax IRR and US$221 million NPV8. Cora is progressing permitting and project financing to move into mine construction, while also pursuing exploration upside, notably at the Madina Foulbé permit in Senegal’s Mako Gold Belt.

Average Trading Volume: 507,099

Technical Sentiment Signal: Buy

Current Market Cap: £36.41M

See more data about CORA stock on TipRanks’ Stock Analysis page.