Cora Gold is progressing towards development of its Sanankoro Gold Project in southern Mali, with a proposed restructuring of its largest shareholder’s interests and new drilling results providing updates on financing and resource growth.
The company’s latest announcements address two areas that could influence the project’s development timeline and longer-term value: the structure of its existing financing arrangements and the potential to expand its gold resource through further exploration.
Cora Gold’s largest shareholder, Eagle Eye Asset Holdings, intends to transfer its 29.85% shareholding in Cora Gold to its subsidiary, A2MP Investments FZCO. Eagle Eye also plans to transfer its rights and obligations under the existing binding gold stream term sheet with Cora to A2MP.
The restructuring is intended to consolidate Eagle Eye’s African mining and mineral processing interests within A2MP. FEDA Mining Investments, the impact investment subsidiary of the African Export-Import Bank, has converted a convertible loan note into equity in A2MP. Following completion of the share issue, FEDA is expected to hold 23.99% of A2MP, with Eagle Eye retaining majority ownership.
Alongside its financing work, Cora Gold has reported additional drilling results from the Selin deposit, part of the wider Sanankoro project. The 2026 programme aims to identify extensions to existing mineralisation and assess whether further gold resources can be incorporated into future resource estimates.
The latest results cover 21 reverse circulation drill holes totalling 3,748 metres. Drilling targeted extensions to the main mineralised zone and a relatively underexplored western zone.
Highlights included 17 metres grading 1.65 grams of gold per tonne in the western zone and 23 metres grading 1.34 grams per tonne in the main zone. Other results included 14 metres at 1.33 grams per tonne and a further 12 metres at 1.34 grams per tonne at greater depths.
Cora Gold Ltd (LON:CORA), together with its subsidiaries, explores for and develops mineral projects in West Africa. The company primarily explores for gold deposits. Its flagship project is the Sanankoro Gold project located in the Yanfolila Gold Belt, Southern Mali.
