REG - Cora Gold Limited - Results of Oversubscribed Retail Offer

Cora GoldAnnouncement

17/02/2026 07:00

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RNS Number : 2451T  Cora Gold Limited  17 February 2026

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

17 February 2026

 

Cora Gold Limited ('Cora' or 'the Company')

Results of Oversubscribed Retail Offer

 

Further to the announcement by the Company in respect of the Retail Offer
dated 10 February 2026 (the "Retail Offer Announcement"), Cora Gold Limited,
is pleased to announce that following the closing of the Retail Offer on the
BookBuild platform, the Company has conditionally raised gross proceeds of
c.£2 million (the "Retail Offer") by way of a successful subscription for
33,333,333 Retail Offer Shares at the Issue Price of 6 pence per share in
connection with the Retail Offer, which was significantly oversubscribed.

 

Allocations were made to existing Shareholders, applying the principles of
soft pre-emption.  Given the significant demand, existing Shareholders
received 100 per cent. of their soft pre-emptive allowance, when their order
matched or exceeded their soft pre-emptive allowance. Where the order was
greater than the soft pre-emptive allowance shareholders received c.36% of
their additional demand  1 .

 

The Subscription and Retail Offering (together the "Fundraise") will raise
gross proceeds of c.£15.7 million which will primarily be used to advance
Cora's flagship Sanankoro Gold Project in southern Mali towards production, as
well as continued exploration of the Company's permits and for general working
capital purposes.

 

Completion of the Fundraise is conditional on (amongst other matters): (i) the
provision of a title opinion on the Company's assets in Mali satisfactory to
the subscriber to the Subscription; (ii) the passing of the necessary
resolutions at a general meeting of the shareholders of the Company (the
"EGM"); and (iii) admission of the Retail Offer Shares and Subscription Shares
to trading on AIM ("Admission") taking place no later than 8 April 2026.

 

The EGM will be held at 12 p.m. on 24 March 2026 at the offices of Hannam
& Partners, 3rd Floor, 7-10 Chandos Street, London, W1G 9DQ, United
Kingdom and online. Details on how shareholders can vote and attend the EGM
are set out in the announcement made by the Company on 13 February 2026.

 

Upon all conditions becoming satisfied an application will be made to the
London Stock Exchange for the Retail Offer Shares and Subscription Shares to
be admitted to trading on AIM.  The date of Admission may be accelerated
subject to all conditions being satisfied. Should this occur, the Company will
notify the new date of Admission.

 

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the Retail Offer Announcement.

 

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.

 

For further information, please visit http://www.coragold.com
(http://www.coragold.com/) or contact:

 Bert Monro       Cora Gold Limited                  info@coragold.com (mailto:info@coragold.com)

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

Pearl Kellie
(Nomad and Broker)
 Matt Hasson      Hannam & Partners                  +44 (0)207 907 8500

(Adviser to the Subscription)
 Franck Nganou
 Susie Geliher    St Brides Partners                 cora@stbridespartners.co.uk (mailto: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, 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 65% IRR post tax, US$221 million
NPV8 post tax, US$479 million Free Cash Flow over life of mine and all-in
sustaining costs of US$1,478/oz based on a gold price of US$2,750/oz. The
Company is working to finalise the permitting process and conclude project
financing so that mine construction can commence. 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 Mako Gold Belt of the Kédougou-Kéniéba Inlier in east
Senegal.

 1 Soft Pre-emptive allowance Calculation: Existing shares X 52.121% (Dilution
from total new shares being issued) = Soft Pre-emptive allowance allocation
shares.

Additional Demand: (Total Order shares - Soft Pre-emptive allowance allocation
shares) x c.36% = Additional demand allocation shares

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