REG - Cora Gold Limited - Update on Capital Structure

Cora GoldAnnouncement

23/12/2025 07:00

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RNS Number : 5178M  Cora Gold Limited  23 December 2025

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

23 December 2025

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

Update on Capital Structure

 

Cora Gold Limited, the West African focused gold company, is pleased to
provide an update on its capital structure.

 

On 22 December 2025 the Company closed its fundraise for total gross proceeds
of GBP£1.048 million (the 'Fundraise'; see announcement dated 17 December
2025). After the close of the Fundraise the Company's balance of cash and cash
equivalents is in excess of US$1.650 million.

 

Bert Monro, Chief Executive Officer of Cora, commented, "I am pleased by the
strong support shown by our existing significant shareholders in the
Fundraise, which reflects continued confidence in developing the Company's
flagship Sanankoro Gold Project in south Mali. The Fundraise is intended to
support the Company through the permitting process for Sanankoro, positioning
us to move into the construction phase and deliver the Project set out in the
very positive definitive feasibility study published in Q3 2025."

 

Capital Structure

 

Immediately post closing of the Fundraise the Company's issued and outstanding
capital structure comprised:

●          502,269,011 ordinary shares;

●        warrants to subscribe for 32,624,205 ordinary shares in the
capital of the Company at a price of 7 pence (British pound sterling) per
ordinary share expiring on 01 April 2027;

●         share options over 5,050,000 ordinary shares in the capital of
the Company exercisable at 10.5 pence (British pound sterling) per ordinary
share expiring on 08 December 2026;

●          share options over 13,350,000 ordinary shares in the
capital of the Company exercisable at 4 pence (British pound sterling) per
ordinary share expiring on 13 March 2028; and

●        share options over 19,150,000 ordinary shares in the capital of
the Company exercisable at 6.25 pence (British pound sterling) per ordinary
share expiring on 01 April 2030.

 

**ENDS**

 

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)
 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
NPV(8) 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.

 

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