StockMarketWire.com - West African focused gold company Cora Gold reported wider annual losses on higher costs owing to asset writedowns.

For the year ended 31 December 2019, pre-tax losses widened to $1.47m from $837K on-year on impairment charges of $796K owing to writedowns of its terminated projects in Mali.

The Djangounte Est, also known as Diangounte Est, Mogoyako, also known as Mokoyako, and Karan mines were terminated as the company considered them to no longer be prospective.

Post period end, the company said it had commenced drilling at the Madina Foulbe permit in eastern Senegal with initial results showing 'good widths of gold mineralisation continuously intersected.'

'We are planning further metallurgical test work programmes to build on the scoping study as well as drilling programmes to both grow and increase confidence in the existing resources,' the company said


At 8:48am: [LON:CORA] Cora Gold Limited Ord Npv Di share price was +0.25p at 5.75p



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