Cora Gold Share Chat (CORA)

The UK Foreign, Commonwealth & Development Office (FCDO) advises against all travel to Mali. If you are a British national currently in Mali, their official instruction is that you should leave immediately by commercial flight if you judge it safe to do so.

​**Do not travel overland: The FCDO warns that attempting to leave Mali via borders or highways is incredibly dangerous due to Al-Qaeda-linked blockades and terrorist activity.

Hopefully the meeting of Cora, Eagle Eye and Government is for handshakes and press photos after the permit has been granted.

It’s an article on directors talk

in the relatively near future bert is looking to meet in mali with eagle eye and mali government

https://www.***************************/cora-gold-ceo-bert-monro-on-the-fully-funded-path-to-first-gold-at-sanankoro/4121251018

I think there is a buyer in the background if the last weeks trading is anything to go buy, taking sells at 9.88 and then after hours we have a big buy go through nearly matching the days sells at 10p nearly a million in the last week, let’s see what after hours brings today

Fairer, especially as the North is concerned. The resulting force posture to reinforce the South, Bamako and logistics corridors arguably improves the security situation specifically for Cora.

Not all of Mali is anywhere near the same risk.

Please be careful with this share, I know it's a great prospect but I have seen this before where the future of mines can become very uncertain if new leaders come in.

Mali is generally viewed as less stable now than it was a few days ago, not more stable.

Over the last week, the country has seen one of its biggest security crises in years:

coordinated attacks by jihadist groups linked to al-Qaeda,

fighting involving Tuareg separatists,

attacks near and around the capital Bamako,

and the killing of the defence minister.

The government says the situation is “under control,” and the military leadership has been reorganised quickly, with junta leader Assimi Goïta taking over the defence ministry directly.

But most outside analysts and reporting suggest the broader trend is worsening rather than stabilising:

insurgent groups appear unusually coordinated,

some northern towns have reportedly fallen out of government control,

roads around Bamako have faced threats or partial blockades,

and there are concerns the violence could spread further regionally.

Compared with a few days ago specifically:

the immediate shock of the first attacks has passed,

the government has restored some order in parts of Bamako,

but the underlying security situation still appears highly fragile.

There are ongoing clashes, investigations into possible insider involvement, and fears of further attacks.

So the short answer is:

day-to-day panic in Bamako may be slightly lower than during the initial attacks,

but overall Mali is currently less stable than before the attacks began last week.

Https://hotcopper.com.au/threads/ann-mali-update.9128848/

From the board themselves. Just goes on about how operations and drilling has been uninterrupted and construction continues, along with Dialogue with the government of Mali

Not meaning to gaslight any investors here, and I’m not naive to the situation at hand at all, let’s just hope we can continue to progress on the permitting front as see how matters develop. Would be nice to hear something similar from Cora but if there’s nothing to report yet, it is what it is

Smudge104 - very interesting point re the change in EMS to 100,000 shares shows MM are more comfortable providing liquidity and could be that MM are seeing consistent, larger order flow or they’re comfortable quoting double the size without widening spreads as they know they can move the shares on. Either way I see it as a positive for the share overall. I still believe sometime in May/June for the permit but hopefully nearer the start of that period!

DYOR and GLA

Nothings changed really, albeit irritating, in my opinion these groups are not looking for leadership themselves, I think at some point the government will have to concede some ground in the north and make some kind of deal with jnim, they had one in place at the end of march but it seemed to lapse, anyways had a brief convo with Bert on Monday and all the team were present in the office so that’s nice to hear.

From a trading perspective something happened yesterday or maybe Wednesday in Cora shares.

The market makers have always dealt in 50k on both the buy and sell side, so technically you could buy up to 50k without negotiation

Since Wednesday/Thursday all 9 market makers have moved to 100000 shares being able to trade not 50k this to me is encouraging as it implies they are happy to trade more heavily in Cora

Council of Ministers met on Wednesday and had plenty of the usual routine items on the agenda, so no sign of any changes to normal course of business. I don't expect any change to original anticipated permit timeline.

President Goita this week has been attempting to make quick and easy heavyweight political signalling. Giving Cora the permit would be a quick and easy political signal to announce Mali is still open for investment. Hope he thinks of that.

DYOR

Sorry to hear bud.

Understandable, like previously stated mine are in my pension so can sit on them for a long time.

That said, let’s hope for a swift and quick resolution for all shareholders here. It’s held pretty welll all considering

Sorry all I'm out until the situation in Mali stabilises. The government made a big mistake throwing out the French and UN in favour of Russians who are not effective. The government are very busy at the moment so I think the permit may be some time off.

Buys coming in and it is starting to recover

Just bought in

It’s overdone

Toubani ended 17% down

A statement would be great. Just need to hope for a beneficial outcome and a smooth transition into the future.

A statement from Cora to confirm operations at the site remain unaffected would be prudent

Keep calm carry on etc

Just watching TRE (Toubani) on ASX and its only down 9%. Pretty sure the majority of long term investors here will sit tight. We saw what happened a few months ago after the last attacks and the share price rebounded pretty quickly. Can see an opportunity to buy some more today if the price drops, something I wasnt anticipating but will gratefully take. GLA especially LTH's

The defence minister getting got isn't a good look for Mali, rest his soul. Tomorrow is going to be rough for cora stock probably, but depending I may well load up again like back in November as bad sentiment gives rise to the monetisation potential of risk premia into the permitting news. I just worry these constant politcal/security issues dont exactly help to ensure high functioning government departments, which is what cora really needs right now. Q2 permitting decisions become Q3, more delays, etc. Doesnt seem like Mali is about to seccumb to Mosul style ISIS takeovers on the one hand, but on the other hand mali is clearly more politcally dysfuncional as a result of these attacks. Let's see how the market reprices these risks that tomorrow.

Lot of scaremongering and propaganda going around regarding the attacks but Government has regained control and dealt with the situation very quickly. Nothing to worry about to be honest.

When we get our ML, 13p will be a distant memory and I still believe it will be granted in May/June. Ideally earlier so we can get a move on with the construction phase but to hit December 27 first gold pour with an 18 month build timeline makes it June 26 for the permit.

DYOR and GLA

You called it mate, 13p

Market makers 1 left at 12.5, the rest at 13/14p, a little push here and we will fly up

... permit approval nearer 40p...

That'll do nicely..

Cavendish new SHORT TERM TARGET 27p up from 22.3p I would imagine permit approval nearer 40p

1/x We have followed a very similar playbook to $TRE.AX here, and see a similar timeline to permitting as Toubani.

On that basis, Sanankoro would be pouring first gold in December 2027.

This coming from Eagle Eyes Aryann Gupta, the company who have financed us $120m

A first gold pour of Dec 27 suggests the permitting is very, very close. Similiar to when they agreed financing with Toubani and what happened next.

2 months

So Cora have been waiting 3 and a half years for this mining Permit and it's been over 1 year since Mali lifted the suspension and still no permit. Maybe a couple more years to wait then?

Https://www.mining-technology.com/news/cora-gold-120m-funding-mali-project/

Get the permit, then it’s full steam ahead

The Company is advancing the permitting process with the Government of Mali such that having secured binding finance agreement to fully fund the mine development then transition into construction can happen as quickly as possible. In parallel, the Company continues to pursue value-enhancing opportunities across its portfolio and has identified largescale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

I do wonder if the grant of the mining permit by the Malian authorities has been, all along, conditional upon the company being fully funded through construction to production - which it now is. Hence the comment about "accelerated permitting".

Lot more to come here, surprising to see sellers given how close we are to building a mine with gold close to £5000, although those sales are in the price now, expecting a good week ahead, I would guess that cavendish may revise price target from 22.3 to nearer 30p

Interestingly did anyone pick up this little gem from yesterday? We could be closer than we think to production, but it also means we are guaranteed regular news flow and updates

Stream funding solution expected to materially accelerate construction timeline once permits are secured.

Nice little move up with permitting to come.

It’s the news which is most pleasing. A significant milestone to set the company up for production. Good to know we’ll also be debt free within 12 months of mining too. Full steam ahead.

Have a great weekend Cora Gang

The section below is the important bit for Cora Gold and it puts them in an even better position than Toubani's agreement with Eagle Eye. I am guessing Bert has talked to the existing investors (and maybe outside investors) who are willing to stump up the £60 million when the permit is agreed.

"Cora retains the right to replace 50% of the Stream (US$60 million) with traditional senior debt for up to 240 days following approvals, enabling Cora to optimise the financing structure."

So Knew/know this will come.....great! TBH I would have sold up and taken profits with my CORE CORA holding as I have traded all my CORA trading pot over time....

.....but I put my CORE CORA in a paper certificate to stop me selling....so still have it safe! Happy days.

GLA

Great position to be in with all the funding sorted.

They have 8m to try and raise cheaper funding.

We can't be held over a barrel because of it's to expensive we can just walk away

If we had raised this on equity we would have had to give up between 50% and 75% of all gold produced.

At 20% we will be paid the cost of processing the gold at today's price.

Good deal

Edging up very slowly. Buys now costing over 10 pence. Time for a permit being granted.

Ho hum, double figures, we all know where this is going, and will sit here in a few months thinking why didn’t I buy more lol

More than happy for us to continue to edge up, it will make the move even more significant when the news drops

Certainly looks poised on all fronts. You sense these shares are in very firm hands now, almost uniquely across these boards we seem to have zero day traders which can only be a good thing. Coupled with our very small freefloat. When we do get the newsflow we're expecting here, for new entrants there just won't be much stock to go round.

Stock shortage is going to lead to a significant jump here shortly, 250k moved us 10% today….

Should easily hit and surpass 30p in the coming months, we all know what’s needed, come on Bert, deliver the goods

100%, no reason at all. Similar ground, same Investors on board.

Great to see Toubani going up like they are, only difference is they've had the go-ahead for their permit, and to begin construction. This is the news we're waiting on here.

No reason we can't follow their trajectory over the next 12 months - puts Cora at 30p a share

Toubani now valued at the equivalent of £240m.

With everything we know is coming here, gold doing its thing, and the company being cashed up to this extent, I'd imagine it won't be long before we sail past the 52 week high here.

Https://x.com/aryann_gupta/status/2040838711588319561

That part about holders being "likely to exercise and sell" isn't accurate. Nobody knows if that's the case or not, but because they are insiders there has to be an assumption they would hold the shares if/when they exercise - not sell them. Have to be careful with these AI generated responses sometimes.

They won't even be fully vest until September 2027. Or be in the money until 8p+. Other historic warrants market already priced in way before today's RNS. The important part is the main £15.7m funding came without any warrants attached, unlike so many fundraises you see on Aim - this was a level playing field for all of us.

2. The "Bear Case": Dilution and OverhangWhile the cash is good, the share price faces pressure from dilution.New Supply: The board just granted 28.15 million new options. If these are eventually exercised, they will create new shares, meaning existing shareholders will own a smaller percentage of the company.The "Overhang": There are now 65.7 million options and 32.6 million warrants outstanding. Combined, these represent nearly 13% of the current share capital. Whenever the share price rises above the exercise prices (7p, 8p, 10.5p), those option holders are likely to exercise and sell, which can create a "ceiling" that makes it harder for the share price to rally quickly.

News as expected on Raise. Options incentivise company employees.

1. The "Bull Case": A Stronger Balance Sheet

The most immediate positive is the liquidity.

Cash Position: With over US$20.5 million in the bank, the company has removed "financing risk" for the near term. For a gold exploration or development company, having cash is vital to avoid a "fire sale" or bankruptcy.

Validation: Raising £15.7 million suggests that institutional or private investors have confidence in the company’s assets (likely the Sanankoro Gold Project).

Well it made sense to me to sell all I got allocated at 6p for 6.75p (a profit is a profit)....hold my CORE however for the long haul!

GLA

Share price wise, as well as retail shares here, this is one of those weird weeks for price action where some folks crystallise losses to offset against CGT while they still can within this tax year. I'm sure we all agree here that otherwise to sell at these prices otherwise doesn't make sense, when the company has never been as well positioned as it is right now.

I suspect they'll be able to increase PR now we have the Eagle Eye transaction formalised. One factor in intervening period leading up this they may well have been impeded by what they could say, while in that effective close period. We'll now see new director onboarded go with that slug of cash, once dust settles in theory should be all systems go.

Let's hope so as being scandalously undervalued so you sense a bit of publicity might be all it takes. It seems few even know this name. I only happened across by accident really but glad I did.

AG totally agree with you, it’s frustrating and annoying to be stuck here, but I feel in the next few months we will go through a massive re rate, it’s just a matter of time, we need the permit and financing at which point 30p would be fairer value

The wait goes on, I would assume eagle will come up with a similar package to that of Toubani

Would be nice to have an interview from Bert

An as investor, I don’t want to sound ungrateful, I think what the company have executed in the last 5 years has been groundbreaking.

Would be nice to hear the 5-10 year plan, and beyond. The obvious activity is Sanankoro. Build the mine, process, expand. Repeat repeat repeat.

Then there’s Senegal which looks to have great potential. Having this producing in parallel with Sanankoro really takes us to that next stage. I’m in no rush at all to sell up here, long hold for me with it being in my pension. There’s no reason we can’t dream one day to become a £B entity, and I know I’m jumping the gun, but I genuinely feel we have that potential here, maybe even get a third asset.

Everything is focused on Sanankoro for the foreseeable and rightfully so, but it would be interesting what his thoughts are beyond that.

100% tbcx

And like you say, that's excluding and taking into account any future expansion, which will be inevitable

64Koz PA for the next 5 years, 47 KA for LOM, and more importantly "Initial Production (Year 1): Over 80,000 ounces".

That's the key for me which shows the capacity we have to produce every year, a number in time I think we'll get closer to as we continue to drill and prove up new and existing Resources. Takes that $288m to $360m Revenue PA. The board at Cora will have the opportunity to make this company into anything they want. Incredible potential

The most striking aspect about this is the company's DFS forecasting 64k oz average annual production. Just with resource as it stands, excluding that exploration upside. By the time we reach production, at $4.5k gold we would be talking revenue of $288m p/a.

This is nothing short of a giant in the making.

Market cap a bit higher than that now, taking into account new shares in issue. Otherwise good points and agree. On an enterprise value basis, (mcap less cash) we are price significantly lower than before this funding banked, which is absurd when you think how much it advances the company's prospects in every possible way. Suspect anyone in a position to load the boat at these prices will do extremely well in the coming weeks and months ahead.

Ended up buying more last night

- £16m soon to be in the bank

- a mining permit on the horizon

- Construction to be fully funded (debt free within a year of production)

- A high percentage of shares held in very tight hands. What would that be now with eagle eye on board ?

- 1Moz oz in resource from surface with Sanankoro vastly unexplored

- Gold price $1500-$1700 above our recent DFS which in itself was significant.

- Our second asset in one of the richest Gold belts on the planet being explored

For the MCAP of £36m? It’s one of the easiest buys on the market in the mining industry for me. We should see 3/4/5 X that MCAP before the first Gold is poured. There’s a lot of overvalued companies on the AIM riding on the back of a strong gold price and nothing else. This has so much going for it.

Our time is near and is very much deserved.

22.3p nice 👍

3x from here. Seems very achievable - and might even be conservative.

The 100,000 was a buy, funny how the MM's drop on the smallest sell but refuse to move up on a buy?

More good news on the Mali front

https://www.ecofinagency.com/news/2503-54083-gold-reforms-and-stability-drive-mali-s-economic-rebound-imf-says

Gold on the move upwards again, with hindsight we couldn't have timed this cash injection much better.

Bought more today. A significant proportion of whole market cap is now cash. De-risked at just the right time. This will be back to recent highs in no time.

GLA

Great to have this complete, a bit of a formality but nonetheless important step for the company able to really move things forward now.

In first week of of April we will also see the company actually bank the £15.7m cash which will go a very long way. Plus they'll now be able to start taking advantage of Eagle Eye's operational experience on the ground. I'm expecting things to progress quite rapidly from here.

Eagle Eye investment voted through (>99% for). They are now onboard and once permit approved they will back Cora for the build like they did for Toubani Resources. Note full Eagle Eye build investment for Toubani was on 10th of October 2025, full Mali mining approval followed in Jan 2026.

Yup smudge

Yes mate

Hi Smudge, is it the 5 minute interview with 3 other companies?

Cora Gold’s last fundraise at 6p (December 2025) was followed by a sharp multi‑month rally, with the share price rising from 6p → ~12.5p over the next four months — effectively doubling. This is based on the historical price data visible in the search results.

Interview with Bert https://www.youtube.com/

Looks like Mali are starting to open up, seems like they are willing to engage with trading partners around the globe, this will be seen as a good sign that Mali is open for business, notice roscoff got an extension

https://africa.businessinsider.com/local/lifestyle/mali-restructures-embassies-in-russia-china-and-5-other-nations-as-it-tightens-grip/e5t5f9x

100% Chris, picked up on that too. What a fantastic position the company to be in once the permit arrives. Funding in place for construction, will be debt free within 1 year, easy extraction, 1Moz in combined resources and a potential to grow this into a 2-3Moz mine. I’m that confident we will. No place on the AIM I’d rather be than here. It has come with its risks at times but the company have derisked it as much as possible, every opportunity they’ve had.

On a slightly separate note, I’ve just been going back through the old RNS reports when we drilled 5 years ago. It seems almost effortless and with every set of results we yielded more and more. This particular set takes some beating. There’s so much more to come from that

HIGHLIGHTS

· 49m @ 15.55 g/t Au

o including 8m @ 89.12 g/t Au from 99m in hole SC0484

· 32m @ 7.83 g/t Au

o including 4m @ 53.86 g/t Au from 45m in hole SC0488

· 12m @ 6.37 g/t Au

o including 5m @ 14.17 g/t Au from 95m in hole SC0485

· 32m @ 3.25 g/t Au

o including 4m @ 10.18 g/t Au from 72m in hole SC0488

· 36m @ 1.65 g/t Au from 88m in hole SC0487

· Many of the intercepts are outside existing pit shells

· Additional new mineral zone intercepted within existing pit shell

· Results are from first 700m of a 3.2km long Selin target

Bert Monro, CEO of Cora, commented, "49m @ 15.55 g/t Au and 32m @ 7.83 g/t Au are two further fantastic holes from the ongoing drill programme at Sanankoro. Even more significantly, the objective of this drilling has been to extend the existing 65m average depth pit shells at Selin deeper, and these initial results provide a great deal of encouragement as we target an updated resource at the end of this programme."

AG1989 - An interesting short video from Bert, thanks for the heads up - I liked the part re "funding partners in place" a throw away line at the end but I think points to things moving quickly once Eagle Eye investment concludes next week and then hopefully that all important mining licence.

A lot going on in Mali smudge, especially some of the majors executing significant extensions to their current mines. Combined with new mines and a national push to increase Gold production, we can’t be far off.

New short video released on the companies X account today, Bert Stating the construction team ready and waiting.

One can only speculate, but the news flow coming out of Toubani will be us soon.

https://energycapitalpower.com/toubani-resources-approves-216m-fid-for-malis-kobada-gold-mine/

If you’re hunting rerates:

Cora Gold = highest leverage to rerate (early stage of Eagle Eye entry)

👉 Mining permit alone: +30–80%

👉 Permit + Eagle Eye funding:

~2x–3x share price (most realistic)

Up to ~4x in a strong scenario