Cora Gold Secures US$120m Stream to Fully Fund Mali Project

An update from Cora Gold ( (GB:CORA) ) is now available.

Cora Gold has secured a binding US$120 million gold stream financing from major shareholder Eagle Eye Asset Holdings to fully fund its Sanankoro Gold Project in southern Mali through to production, alongside a recent £15.7 million equity raise. The stream allows EEA to purchase up to 30.44% of Sanankoro’s gold output at 20% of spot prices, while Cora can replace half the facility with senior debt to optimise its capital structure once permits are in place.

The funding is expected to accelerate Sanankoro’s construction following permitting, supporting a project with a 2025 definitive feasibility study showing a post-tax NPV8 of US$221 million, a 65% IRR and average first five-year output of 64,000 ounces at US$1,478/oz AISC. The transaction, treated as a related-party deal given EEA’s 29.9% stake and board representation, further cements EEA as a cornerstone backer as Cora pursues a dual-track strategy of fast-tracking development and expanding its wider West African resource base.

More about Cora Gold

Cora Gold Limited is a West African-focused gold developer with projects in Mali and Senegal, centred on the Sanankoro Gold Project in the Yanfolila Gold Belt in southern Mali. The company aims to develop Sanankoro into an open-pit oxide gold mine, underpinned by a 531 koz probable reserve and a management team with a track record of building multi-million-ounce gold operations.

Average Trading Volume: 582,265

Technical Sentiment Signal: Strong Buy

Current Market Cap: £76.41M

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