Cora Gold Ltd (LON:CORA), the West African focused gold company, is pleased to announce the appointment of New SENET (Pty) Ltd, a DRA Global group company, to oversee an updated Definitive Feasibility Study (DFS) at Cora’s flagship Sanankoro Gold Project in south Mali.
The updated DFS as well as updated Ore Reserves will reflect the successful delineation of an enhanced +1 million ounce Mineral Resource Estimate (‘MRE’) (see announcement dated 15 January 2025), and processing optimisation studies currently being completed. Given the recent record high gold prices (currently around US$3,000/oz), the updated DFS is expected to significantly enhance Sanankoro’s already strong cash flow projections reported in the November 2022 DFS, which was based on a gold price of US$1,750/oz.
The updated DFS underpins Cora’s commitment to maximising the development potential of Sanankoro and ensuring operational readiness post completion of the DFS. Alongside the updated DFS, Cora is focused on completing permitting and financing as quickly as possible in order to expedite mine construction at Sanankoro.
Bert Monro, Chief Executive Officer of Cora Gold, commented, “Given the significant rise in the gold price since our November 2022 DFS, which showed a 53% IRR at a gold price of US$1,750/oz, and a subsequent increase to a +1 million ounce Mineral Resource Estimate in January 2025, we are confident that the updated Reserves and DFS will significantly bolster the value of Sanankoro as we advance towards mine construction.
“We are pleased to be having regular positive engagement with the Government of Mali on our mine permit application and look forward to providing further updates on this progress in due course.”
