REG - Cora Gold Limited - Board Changes

Cora GoldAnnouncement

13/01/2025 07:00

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RNS Number : 0550T  Cora Gold Limited  13 January 2025

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

13 January 2025

Cora Gold Limited

('Cora' or 'the Company')

 

Board Changes

 

Cora Gold Limited, the West African focused gold company, is pleased to
announce the appointment of Adam Davidson as an Independent Non-Executive
Director. Mr. Davidson has extensive experience in the natural resources
sector, which will be beneficial to Cora as it seeks to commence mine
construction at the Company's Sanankoro Gold Project ('Sanankoro' or the
'Project') in southern Mali.

 

Mr. Davidson's experience spans a breadth of jurisdictions and commodities. He
was the founding CEO of AIM-listed Trident Royalties plc (AIM:TRR; 'Trident'),
which was acquired by Deterra Royalties Limited (ASX:DRR) in 2024. Prior to
Trident, Mr. Davidson worked for Resource Capital Funds, a leading
mining-focused private equity firm, and previously held positions with BMO
Capital Markets and Orica Mining Services. Mr. Davidson is a graduate of the
Australian Institute of Company Directors, currently serves on the board of
South Atlantic Gold Inc (TSX-V: SAO) and was previously a Non-Executive
Director of RG Gold, a private gold producer. He earned his MBA from the
College of William & Mary and completed a post-graduate in Mining Studies
from the University of Arizona.

 

Alongside Mr. Davidson's appointment, Cora announces that David Pelham has
stepped down from the Board as a Non-Executive Director, effective
immediately.  Mr. Pelham will continue to support the Company as a Technical
Adviser, using his extensive knowledge as a geologist with over 45 years'
experience.

 

Bert Monro, Chief Executive Officer of Cora, commented, "We are hopeful that
2025 will be a year of significant progress for Cora, which, subject to the
lifting of the moratorium on the issuance of permits in Mali, will ultimately
see us commence mine construction at our Sanankoro Gold Project.  As we look
to ensure operational readiness, we are delighted to welcome Adam to the team.
His extensive experience across the mining sector will be of great value to
our company as we look to complete the final permitting and financing steps.

 

"I would like to thank Dave Pelham for his contributions to the Company as he
steps down from the Board.  We are delighted that Dave will continue to be a
Technical Adviser to the Company; his extensive geological knowledge and
experience has already added significant value to our Company and I look
forward to being able to call on his advice going forward."

 

Ed Bowie, Chairman of Cora, commented, "On behalf of the Company and all our
stakeholders, I would like to thank Dave for his years of service. He has made
a significant contribution to the advancement of the Company and in particular
our exploration efforts at Sanankoro. We look forward to his continued
valuable input as a Technical Adviser.

 

"I look forward to welcoming Adam to the Board. He has the ideal skills and
expertise to support the Company as we transition to becoming a gold
producer."

 

The following disclosures are made pursuant to Schedule 2 paragraph (g) of the
AIM Rules.

 

Adam Forrest Davidson, age 41, holds/held the following directorships and/or
partnerships:

 

 Current Directorships / Partnerships  Former Directorships / Partnerships

                                       (within the last 5 years)
 Sonoroy Holdings Limited              n/a

 South Atlantic Gold Inc.

 Trident Royalties Limited

 TRR Offtakes, LLC

 TRR Services UK Limited

 TRR Services, LLC

 TRR Services Schweiz AG

 TRR Sonora Limited

 

There are no further disclosures required to be made pursuant to Schedule 2
paragraph (g) of the AIM Rules.

 

**ENDS**

 

For further information, please visit http://www.coragold.com
(http://www.coragold.com) , follow us on social media (LinkedIn and X:
@cora_gold) or contact:

 

 Bert Monro       Cora Gold Limited                  info@coragold.com

 Craig Banfield
 Derrick Lee      Cavendish Capital Markets Limited  +44 (0)20 7220 0500

 Pearl Kellie     (Nomad & Broker)
 Susie Geliher    St Brides Partners                 cora@stbridespartners.co.uk

 Charlotte Page   (Financial PR)

 

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, its primary focus is on developing the Sanankoro Gold Project
in the Yanfolila Gold Belt, south Mali, into an open pit oxide mine. Based on
a gold price of US$1,750/oz and a Maiden Probable Oxide Reserve of 422koz at
1.3 g/t Au, the Project has strong economic fundamentals, including 52% IRR,
US$234 million Free Cash Flow over life of mine and all-in sustaining costs of
US$997/oz. Alongside this, the Company continues to seek value opportunities
across its portfolio and has identified large scale gold mineralisation
potential at the Madina Foulbé exploration permit within the Kenieba Project
Area of east Senegal.

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