Cora Gold raises £4.25m

1st December 2021 By: Marleny Arnoldi - Deputy Editor Online

Aim-listed Cora Gold has conditionally raised £4.25-million through a placing and subscription of about 42-million new ordinary shares.

CEO Bert Monro says this strong support for the fundraise from many existing shareholders and new investors is encouraging.

The placement follows the company publishing an updated mineral resource estimate for the Sanankoro gold project, in Mali, wherein Cora reported total pit constrained resources of 21.9-million tonnes grading 1.15 g/t gold, for a total of just under 810 000 oz.

A definitive feasibility study for the project, which the proceeds are being used for, is well under way, and will be completed in the first half of 2022.