18th May 2026 14:33
(Alliance News) - Cora Gold Ltd on Monday said it is progressing on advancing the Sanankoro gold project in Mali towards construction, as it reported an increased loss for 2025.
The West Africa-focused gold developer said net loss widened to USD1.4 million in 2025 from USD1.1 million in 2024.
Chair Adam Davidson said: "The participation of Eagle Eye as a strategic investor in the company's March 2026 fundraise marked an important milestone for Cora. This was subsequently followed in April 2026 by a USD120 million stream, representing a transformational step for the company. Together, these financings significantly de-risk Sanankoro, establishing a clear pathway to a fully funded development alongside existing equity."
He added: "Importantly, the flexibility within the stream structure provides optionality to optimise the overall financing package, including the potential introduction of traditional debt, while retaining the stream as a committed construction funding solution. Eagle Eye has proven to be a highly supportive and knowledgeable partner, and we look forward to continuing this relationship as we progress permitting and advance the project towards construction."
Cora Gold shares were flat at 9.60 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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