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An update from Cora Gold ( (GB:CORA) ) is now available.
Cora Gold has launched a retail share offer to existing UK shareholders via the BookBuild platform to raise up to £2 million at 6 pence per share, a 44% discount to the recent market price. This follows a conditional strategic subscription of up to about £13.7 million, with both elements forming a wider fundraising subject to shareholder approval, satisfactory title opinions on its Malian assets, and admission of new shares to AIM.
Net proceeds from the combined fundraising will be used primarily to advance the Sanankoro Gold Project toward production, continue exploration across Cora’s permits, and provide general working capital. By extending participation to retail investors and aligning their terms with those of the strategic investor, Cora aims to strengthen its capital base and support project development, although completion remains contingent on regulatory and corporate approvals.
More about Cora Gold
Cora Gold Limited is a West Africa-focused gold exploration and development company listed on AIM in London. Its primary asset is the Sanankoro Gold Project in southern Mali, and it also holds additional exploration permits across the region, targeting the advancement of gold projects toward production for regional and international markets.
Average Trading Volume: 435,841
Technical Sentiment Signal: Buy
Current Market Cap: £53.99M
For a thorough assessment of CORA stock, go to TipRanks’ Stock Analysis page.