Cora Gold Wins Strong Shareholder Backing for Capital Flexibility as Sanankoro Project Advances

Cora Gold ( (GB:CORA) ) has issued an announcement.

Cora Gold Limited, the AIM-listed West Africa-focused gold developer, has its core assets in Mali and Senegal with a flagship open-pit oxide project at Sanankoro in the Yanfolila Gold Belt. Backed by a management team experienced in developing multi-million-ounce deposits, the company’s strategy centres on turning de-risked resources into producing gold mines.

Shareholders at Cora Gold’s Extraordinary General Meeting overwhelmingly approved resolutions to allot new shares and disapply pre-emption rights on equity securities, with support levels exceeding 99% of votes cast for each measure. The strong mandate enhances Cora’s flexibility to raise equity capital as it moves to complete permitting and project financing for Sanankoro, potentially accelerating mine construction and strengthening its growth prospects in the West African gold sector.

The Sanankoro Gold Project’s 2025 Definitive Feasibility Study outlines a Probable Reserve of 531 koz at 1.13 g/t Au and highlights attractive economics, including a 65% post-tax internal rate of return and US$221 million post-tax NPV8. These metrics, alongside forecast life-of-mine free cash flow of US$479 million and all-in sustaining costs of US$1,478/oz, position Sanankoro as a potentially high-margin operation at a gold price assumption of US$2,750/oz, supporting Cora’s investment case and regional expansion ambitions.

Beyond Sanankoro, Cora continues to evaluate portfolio-wide opportunities, notably pursuing large-scale gold mineralisation at its Madina Foulbé exploration permit in Senegal’s Mako Gold Belt. Successful advancement of these assets, combined with the newly approved capital-raising flexibility, could bolster Cora’s competitive standing among West African gold developers and offer additional upside for stakeholders.

More about Cora Gold

Cora Gold Limited is a West Africa-focused gold developer operating de-risked project areas in Mali and Senegal across two established gold belts. The company’s primary focus is advancing the Sanankoro Gold Project in the Yanfolila Gold Belt in southern Mali into an open-pit oxide mine, supported by a proven team with a track record of multi-million-ounce gold discoveries developed into producing operations.

Sanankoro hosts a Probable Reserve of 531 koz at 1.13 g/t Au within a US$2,200/oz pit shell design, underpinning robust economics outlined in a 2025 Definitive Feasibility Study. The study indicates a 65% post-tax IRR, US$221 million post-tax NPV8 and US$479 million in life-of-mine free cash flow, with all-in sustaining costs of US$1,478/oz at a gold price assumption of US$2,750/oz.

Cora is in the process of finalising permitting and arranging project financing to progress Sanankoro into construction, while also exploring value upside across its broader portfolio. This includes large-scale gold mineralisation potential identified at the Madina Foulbé exploration permit in the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

Average Trading Volume: 485,479

Technical Sentiment Signal: Strong Buy

Current Market Cap: £36.41M

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