For a gold developer, the journey from feasibility through to construction is where a project’s potential starts to become increasingly tangible. At this stage, investors begin to focus not only on the geological opportunity and project economics, but also on the practical milestones required to turn a development into a producing mine.
For Cora Gold (LSE:CORA), that transition is now firmly underway at its Sanankoro Gold Project in Mali, with the company progressing key pre-construction activities while continuing exploration aimed at expanding its resource base.
In a recent Watch List interview, Bert Monro, CEO of Cora Gold, provided an update on the company’s progress and outlined the key milestones investors should be watching as Sanankoro moves towards construction.
Sanankoro Prepares for Mine Construction
Cora Gold completed its Definitive Feasibility Study (DFS) for Sanankoro at the end of last year, marking a significant milestone in the project’s development.
According to Monro, Sanankoro is an open-pit oxide gold project with a payback period of less than one year at the current gold price — an attractive feature as the company progresses towards development.
The immediate priority is now the completion of the Front-End Engineering Design (FEED) process, which represents a critical part of the preparation required before construction can begin.
“We’re currently completing our FEED process on the project,” Monro explained, describing it as a “really critical path” ahead of construction.
The work is therefore focused on taking Sanankoro from a defined development plan towards a project that is increasingly construction-ready.
Drilling Offers Further Resource Upside
Alongside the engineering work, Cora Gold is continuing an active drilling programme at Sanankoro.
The programme has a dual purpose: supporting the FEED process while also providing the company with an opportunity to grow its existing resources.
Cora has recently released further drill results, with additional results expected to provide continued news flow over the coming weeks and months.
For investors, this creates an interesting combination of development progress and exploration upside. While the company works through the technical requirements for construction, drilling continues to test the potential for additional resources.
Monro highlighted the ongoing programme and the prospect of further results, indicating that there should be plenty of potential news flow from the drilling campaign in the months ahead.
Permitting Is Now a Key Catalyst
While FEED and drilling remain important areas of activity, Cora Gold is also making progress on what Monro described as the major pre-construction milestone: permitting.
The company recently secured the renewal of its main exploration permit, representing an important step forward as it works through the remaining permitting requirements.
Cora is now progressing through the final stages of permitting, including additional renewals and reshaping work, before ultimately seeking the award of its mining permit.
For Cora, securing the mining permit would represent a major milestone in the development of Sanankoro and provide further clarity on the pathway towards construction.
Monro was particularly encouraged by the recent progress, with the company now looking to advance the remaining stages as quickly as possible over the coming months.
Multiple Catalysts Ahead
The significance of Sanankoro’s current phase is that Cora Gold is moving beyond simply demonstrating the geological potential of the project. The company is now working through the engineering, permitting and exploration activities required to advance the project towards development.
With the DFS completed, FEED underway, drilling continuing and permitting progressing, Cora has several potential catalysts ahead.
The completion of FEED, further drill results, continued permitting progress and the award of the mining permit will be important milestones for investors to monitor.
This combination of development and exploration activity could make the coming months an important period for Cora Gold as Sanankoro continues its transition towards construction.
A Project Entering an Important Stage
Cora Gold’s progress at Sanankoro comes at a time when the gold sector continues to benefit from a strong gold-price environment. For developers, this can potentially improve the economics and attractiveness of projects that are approaching the construction decision.
Sanankoro’s open-pit oxide development model, combined with the sub-one-year payback highlighted by Monro at the current gold price, gives the project an interesting economic proposition as Cora continues to advance it.
The focus now is firmly on execution: completing the FEED work, progressing the permitting process, continuing exploration and ultimately securing the mining permit.
As Cora Gold moves through these milestones, Sanankoro is steadily transitioning from a feasibility-stage project towards a potential development opportunity.
For investors watching Cora Gold, the next few months could therefore prove significant, with a combination of engineering progress, permitting milestones and exploration results providing a steady stream of potential catalysts.
With Bert Monro and the Cora Gold team focused on advancing the project, Sanankoro is entering an important stage in its journey towards construction.
For more information visit – https://www.coragold.com/
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