Last week saw a transformational development for Cora’s flagship Sanankoro project in Southern Mali: a binding term sheet for a US$120m Gold Stream has been signed with the company’s largest shareholder, Eagle Eye Asset Holdings (EEA; 29.9% interest). Combined with the recent £15.7m fundraise (also cornerstoned by EEA), this leaves Sanankoro fully funded to development, subject to permitting. In our view, the removal of funding risk represents a key de-risking milestone. We are hopeful that the ....
