Aim-listed Cora Gold has entered into a mandate letter to appoint Atlantique Finance to act as sole adviser in the structuring and mobilisation of a medium-term loan of $70-million to support funding the development of the company’s flagship Sanankoro gold project, in south Mali.
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 of Atlantique Finance is for a minimum term of six months and on an exclusive basis.
“We look forward to working with Atlantique Finance to deliver debt finance for the construction of Cora’s flagship Sanankoro gold project. The Banque Atlantique group has extensive experience of debt financing in West Africa.
“This $70-million debt mandate is building on our fundraising activities earlier this year, where we raised $3.9-million in equity and $15.9-million in convertible loan notes. Once the definitive binding agreements in respect of senior debt are concluded, and such agreements become unconditional, then the Convertible Loan Notes are subject to mandatory conversion,” says Cora CEO Bert Monro.