# Cora Gold moves closer to a funding decision point at Sanankoro

- Link: https://www.directorstalkinterviews.com/cora-gold-moves-closer-to-a-funding-decision-point-at-sanankoro/4121249711
- Published: 2026-04-24T09:24:00+01:00
- Author: Amilia Stone

[Cora Gold](https://www.directorstalkinterviews.com/company/cora-gold-ltd/cora.l)
has taken an important step towards bringing its Sanankoro project in southern Mali
into production, with a binding term sheet for a US$120 million gold stream financing
package that materially changes the development outlook for the asset.

The agreement is with Eagle Eye Asset Holdings, which is already a meaningful shareholder
in the company. Alongside a recent £15.7 million equity raise led by the same backer,
the stream financing is intended to leave Sanankoro fully funded through to production,
subject to permitting and other closing conditions. It reduces one of the main execution
overhangs that typically weighs on emerging producers: the possibility of repeated
capital raises before construction begins.

Under the terms, Eagle Eye would be entitled to purchase 30.44% of gold produced
from the project at 20% of the prevailing spot price. In exchange, Cora secures 
a committed source of capital that appears sufficient to cover the initial development
requirement outlined in the project’s 2025 definitive feasibility study.

Cora retains the right to replace up to 50% of the stream with a traditional senior
debt facility within 240 days of approvals. If exercised, that would reduce the 
streamed portion of production to 15.22%. This optionality gives management room
to refine the final capital structure if debt markets prove supportive, while preserving
the stream as a committed fallback.

_**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._

Share on: