Cora Gold Issues New Shares on Option Exercise as Mali Project Advances

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

Cora Gold Limited, a West African-focused gold developer with key assets in Mali and Senegal, is advancing its flagship Sanankoro open-pit oxide gold project in southern Mali, supported by strong feasibility metrics and a management team experienced in developing multi-million-ounce mines. The company is also progressing permitting in Mali and exploring additional large-scale mineralisation at Madina Foulbé in Senegal to enhance its growth pipeline.

The company has issued 1,000,000 new ordinary shares following the exercise of share options at 4 pence per share, raising £40,000 in fresh equity. Admission of these shares to trading on AIM is expected on 23 April 2026, taking Cora’s enlarged issued share capital to 765,054,700 shares and slightly diluting existing holders while modestly strengthening the balance sheet.

More about Cora Gold

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

Sanankoro has a Probable Reserve of 531 koz at 1.13 g/t Au, and a 2025 Definitive Feasibility Study indicated robust economics, including a 65% post-tax IRR, US$221 million post-tax NPV8 and US$479 million life-of-mine free cash flow. Cora is advancing permitting with the Government of Mali, while also pursuing additional value through exploration at the Madina Foulbé permit in Senegal, where it has identified large-scale gold mineralisation potential.

Average Trading Volume: 582,265

Technical Sentiment Signal: Buy

Current Market Cap: £76.41M

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