Cora Gold Limited
24 August 2026
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
24 August 2026
Cora Gold Limited ('Cora' or 'the Company')
Permitting Update: Sanankoro Permit Renewal
Cora Gold Limited, the West African focused gold company, is pleased to announce that at a meeting of the Government of the Republic of Mali's (the 'Government') Council of Ministers, held on 21 August 2026, the first interim renewal of the Sanankoro II exploration permit (south Mali) was approved.
The Sanankoro II exploration permit covering an area of 84.11 sq km was awarded on 02 March 2021. In due course, the area of the Sanankoro II exploration permit will form part of the permit area for mining operations at Cora's flagship Sanankoro Gold Project ('Sanankoro', 'Sanankoro Gold Project' or the 'Project').
Bert Monro, Chief Executive Officer of Cora, commented, "The renewal of the Sanankoro II exploration permit is a part of an ongoing permit reshaping exercise, needed to get all mining infrastructure under one mining permit area, and a significant step towards being awarded a mining permit for Sanankoro. The next stage in this process is the renewal of each of the Bokoro II and Kodiou exploration permits which were not completed before the November 2022 moratorium came into effect. These renewals will then enable the reshaping exercise to be completed and Cora's application for a proposed 100 sq km mining permit at Sanankoro to be progressed. We will continue to work closely with the Government to transition to be fully permitted as quickly as possible to enable the construction of the Sanankoro Gold Mine to commence.
"Work on the Front-End Engineering Design ('FEED') process, announced on 26 May 2026, is making good progress, in parallel with a drill programme targeting both extensions to existing deposits and a number of highly prospective near-mine greenfield targets. The FEED process is a key element in readying Sanankoro for full construction, forms part of the capital cost and is an important milestone in the delivery of the Project to first gold pour. Completing the FEED process will allow the Company to make decisions on long lead items, with a view to potentially compressing the Project's delivery timeline once in receipt of the mining permit. We look forward to sharing further updates on progress at Sanankoro, including permitting, in the near future."
Further Information
Cora's Sanankoro Project Area lies within the Yanfolila Gold Belt in south Mali. Together the five contiguous permits in the Sanankoro Project Area, being Bokoro II, Bokoro Est, Dako II, Kodiou and Sanankoro II, comprise the Sanankoro Gold Project.
On 28 November 2022 the Government announced the suspension of issuing permits in the mining sector. On 15 March 2025 this moratorium was partially lifted by the Government such that, in accordance with the provisions of the 2023 Mining Code and its implementing texts, the mining administration can receive for processing:
● applications to renew exploration permits and mining permits;
● applications for transition from the exploration phase to the mining phase; and
● applications for the transfer of mining permits.
This partial lifting of the moratorium does not apply to:
● applications for the issuance of new permits; or
● applications for the transfer of exploration permits.
For Cora the moratorium impacted:
● interim renewals for each of the Bokoro Est, Dako II and Sanankoro II exploration permits; and
● applications for new permits in relation to the Bokoro II and Kodiou exploration permits, the respective expiry dates of which were in the moratorium period.
Cora is actively engaging with the mining administration in Mali with regard to these matters and ultimately the issue of a mining permit for Sanankoro. The proposed area of the mining permit will include the area of the Sanankoro II exploration permit plus parts of each of the Bokoro II and Kodiou exploration permits.
Market Abuse Regulation ('MAR') Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.
**ENDS**
For further information, please visit http://www.coragold.com or contact:
|
Bert Monro |
Cora Gold Limited |
info@coragold.com |
|
Derrick Lee |
Cavendish Capital Markets Limited |
+44 (0)20 7220 0500 |
|
Matt Hasson Franck Nganou |
Hannam & Partners (Broker) |
+44 (0)20 7907 8500 |
|
Susie Geliher |
St Brides Partners |
cora@stbridespartners.co.uk |
Notes
Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, Cora's primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt in south Mali into an open pit oxide mine.
Cora has a Probable Reserve of 531 koz at 1.13 g/t Au (US$2,200/oz Au pit shell design). The 2025 Definitive Feasibility Study showed that the Project has strong economic fundamentals, including 98% IRR post tax, US$365 million NPV8 post tax and all-in sustaining costs of US$1,623/oz based on a gold price of US$3,500/oz.
In April 2026, the Company secured a binding US$120 million gold stream which, together with existing equity, fully funds the development of Sanankoro through to production. The agreement also provides flexibility, allowing up to 50% of the stream to be replaced with traditional senior debt, enabling optimisation of the financing structure. With funding in place, the Company is advancing the finalisation of the permitting process with the Government of the Republic of Mali to enable a swift transition into mine construction.
The Company continues to pursue additional value-enhancing opportunities across its broader portfolio, including the identification of large-scale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.
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