Name of the Project
Sanankoro gold project.

Location
Yanfolila gold belt, Mali.

Project Owner/s
West Africa-focused gold miner Cora Gold.

Project Description
A preliminary oxide scoping study has shown that Sanankoro has the potential to be a highly profitable standalone oxide mine.

The study has focused on a 1.5-million-tonne-a-year plant delivering average production of about 45 632 oz/y over a three-year mine life.

Based on current Joint Ore Reserves Committee-compliant resources, the study has determined that a heap-leach processing methodology is preferable to a carbon-in-leach methodology.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The pretax net present value, at an 8% discount rate, is $30.9-million and the internal rate of return is 84%, with a payback of less than 18 months.

Capital Expenditure
Preproduction capital expenditure is estimated at $20.6-million.

Planned Start/End Date
Not stated.

Latest Developments
Cora Gold has entered into a mandate letter to appoint Atlantique Finance as the sole adviser in the structuring and mobilisation of a medium-term loan of $70-million to support the development of Sanankoro.

Atlantique Finance is the investment banking and advisory arm of Groupe Banque Atlantique, and a member of the Banque Centrale Populaire Group, a banking institution in Morocco.

The appointment is for a minimum term of six months and on an exclusive basis.

Key Contracts, Suppliers and Consultants
Wardell Armstrong International (scoping study); Digby Wells Environmental (economic- and social-impact assessment); DRA Global (independent project manager); New SENET (management of updated mineral resource estimate and the mining study as part of the DFS); CSA Global (geological and mining consultant to manage the updated mineral resource estimate and the mining study as part of the DFS); Epoch Resources (appointed to oversee the tailings storage facility elements of the DFS); and Capital (reverse circulation drilling).

Contact Details for Project Information
Cora Gold, email info@coragold.com.