Cora Gold has raised fresh equity to progress its Sanankoro gold project in southern Mali, strengthening its financial position at a critical stage in the project’s development timeline. The company has conditionally secured £12.85 million through a subscription of new ordinary shares at 6 pence each, with the potential to increase total proceeds to £13.71 million. In parallel, a retail offer to existing shareholders could contribute up to a further £2 million on the same terms. The combined fundraising is designed to provide the capital required to move Sanankoro closer to construction readiness while maintaining operational momentum.
A central element of the transaction is the introduction of Eagle Eye Asset Holdings as a strategic investor. On completion, Eagle Eye is expected to hold a significant minority stake in the enlarged share capital of Cora Gold. The participation of a single substantial investor adds weight to the funding round and improves clarity around near term capital support.
The proceeds will primarily be directed towards advancing Sanankoro through the next stages of development, including preparatory work aligned with the project’s feasibility framework. Additional funds will support exploration activities across the broader licence package and provide general working capital. By addressing both project progression and corporate liquidity, the company aims to strengthen its negotiating position in future discussions around project level financing.
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.
