Aim-listed Cora Gold has successfully raised £4.2-million in a share placement, which CEO Bert Monro says shows strong support for the company, after it published an updated mineral resource estimate for the Sanankoro gold project, in November.
The share options granted to directors, management and consultants total 7.85-million ordinary shares, exercisable at 10.5p apiece.
Sanankoro is estimated to contain 809 000 oz of gold and remains open in all directions, indicating expansion potential.
A definitive feasibility study for the project, which will be completed during the first half of next year, is well under way.