Cora Gold


Primary ticker: AIM:CORA
Stage of development: Development
Primary minerals: Gold
Project to promote: Sanankoro Gold Project
Project location: Southern Mali

Cora Gold Limited was founded in 2012 and its shares were admitted to trading on AIM, operated by London Stock Exchange plc, in 2017. Cora is developing its flagship Sanankoro Gold Project in Southern Mali; and is conducting regional exploration across +1,100 sq km of exploration permits in Mali and Senegal to make further meaningful discoveries to add significant value to the Company. An updated mineral resource estimate on the Sanankoro Gold Project was published in July 2022 which increased the Resources to 920,000 oz Au and a DFS is well advanced with further updates expected during Q4 2022.

Cash: Cash at end of June 2022 of over US$2 million
Debt: Nil

Major shareholders:

Brookstone Business (Quirk Family) – 29%
Lord Michael Farmer – 14%
Key Ventures (Quirk Family) – 5%
Management Ownership – 6%

Management Profile

Bert Monro – CEO
Bert Monro, CEO, has significant experience in both the resource sector & the City. Most notably, he spent over 10 years at Hummingbird Resources plc (AIM:HUM), holding several roles including Operations Manager, Country Manager & Head of Business Development as the company transitioned from a private pre-resource explorer through to a listed gold miner with over 6 Moz of gold resources in West Africa. Bert was a Non-Executive Director at Cora from IPO in 2017 until 01 July 2019. On 2 January 2020, Bert was appointed Chief Executive Officer and Director of Cora.

What is your rationale for taking part in 121 Mining Investment?

Cora is aiming to meet potential new equity investors at 121 and, with updates on the DFS for Sanankoro due in Q4 2022, the management is also looking towards project financing.

What recent news would you like to highlight to investors attending?

Cora recently announced both an updated Mineral Resource Estimate and submission of the ESIA for the Sanankoro Gold Project, both critical developments as the project moves closer to construction

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
DFS updates in Q4 2022

6 Months:
Permitting and financing of the Sanankoro Gold Project

12 Months:
Commencement of construction at Sanankoro

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The positive execution of the DFS for Sanankoro and the successful completion of the project’s permitting and financing are our current key focuses so, if not delivered, our company strategy to advance Sanankoro would be at risk.

What do you think makes your company such a compelling investment?

The opportunity to become an investor in a development ready project that has been significantly de-risked over the previous years. Sanankoro is targeting an open pit oxide mining operation with low technical risk.

What are the top 3 key investor takeaways?

1. Current resource of 920,000 oz Au with significant expansion potential at Sanankoro and across Cora’s wider portfolio

2. Low technical risk – Sanankoro will become an open pit oxide mining operation

3. Support of a strategic shareholder and commitment to a US$25m funding term sheet to the project post-DFS.