Aim-listed Cora Gold CEO Bert Monro has published a letter to shareholders on its plans for the rest of the year, which will for the most part focus on taking the Sanankoro project, in Mali’s Yanfolila gold belt, into development.
The company is planning further metallurgical testwork programmes to build on a scoping study on the project, as well as drilling programmes to grow confidence in the resource.
Cora will also start work on the project’s environmental and social impact assessment during the second quarter.
Monro says the company plans to have completed a definitive feasibility study before the end of 2021.
The development work on Sanankoro continues amid the Covid-19 pandemic, given the remote location of the project.
The further development of the project will be supported by £2.8-million in proceeds from a fundraise that the company wants to undertake. The fundraise will be voted on by shareholders during a general meeting on April 21.
Meanwhile, Cora has started exploration drilling at the Madina Foulbé prospect, in Senegal, which borders Mali to the west. The area has historically seen more than 50-million ounces of gold discovered.
The company will provide updates on this work during the current quarter.