Cora Gold Limited (LSE:CORA) has completed a £15.7 million equity financing and secured a binding US$120 million gold stream to fund development of its Sanankoro Gold Project in Mali through to production.
Following the equity raise, Singapore-based Eagle Eye Asset Holdings became Cora Gold’s largest shareholder with a 29.85% interest and gained board representation.
During the first half of 2026, Cora began Front-End Engineering Design work at Sanankoro and commenced a 12,000-metre drilling programme. The company also made changes to its advisory team and board during the period.
After the period end, Cora secured the renewal of the Sanankoro II exploration permit. The financing arrangements were also amended to provide flexibility for the company to substitute up to half of the gold stream with senior debt.
Cora additionally appointed Russell White, who has experience in the West African mining sector, as the company continues preparations for construction at Sanankoro.
The company reported net assets of US$47.3 million alongside an interim loss.
More about Cora Gold
Cora Gold Limited is a West Africa-focused gold developer with projects in Mali and Senegal. Its principal asset is the Sanankoro Gold Project in southern Mali’s Yanfolila Gold Belt, which has a Probable Reserve of 531,000 ounces of gold and is planned as an open-pit oxide operation.
The company’s 2025 Definitive Feasibility Study for Sanankoro reported a post-tax internal rate of return of 98% and a post-tax net present value at an 8% discount rate of US$365 million.
Cora is also conducting exploration at its Madina Foulbé project in eastern Senegal, where it is assessing the potential for gold mineralisation.
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