StockMarketWire.com - Gold company Cora Gold said it had signed a US$21m mandate and term sheet with investment firm, Lionhead Capital Advisors, to fund the future development of its flagship Sanankoro gold project in Southern Mali.

This financing was conditional on, among other matters, the completion of a definitive feasibility study on the project before the end of 2021.

'Sanankoro has the potential to be a highly profitable oxide mine with the scoping study highlighting an average free cash flow of US$24m per year and a 107% IRR at a US$1,500/oz gold price,' the company said.


At 9:40am: [LON:CORA] Cora Gold Limited Ord Npv Di share price was +0.25p at 7.75p



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