(Alliance News) - Cora Gold Ltd on Monday reported an increased loss and highlighted its focus on transitioning the Sanankoro project in Mali into a producing mine.
The West Africa-focused gold developer said pretax loss widened 18% to USD3.0 million in 2023 from USD2.5 million in 2022.
Chief Executive Officer Bert Monro said: "Our focus at Sanankoro is on its transition into a producing mine. In 2023 a number of key management personnel were appointed and the construction tender process commenced in support of this." The Sanankoro project is located in the Yanfolila gold belt in south Mali.
Looking ahead, Chair Edward Bowie said: "We look forward to providing further updates on progress at Sanankoro, including submission of the application for a mining permit once the moratorium on issuing permits is lifted. We also look forward to sharing updates on wider exploration activities across our permits, including the drill programme at Madina Foulbe." The Madina Foulbe gold permit is within the Kenieba project area in east Senegal.
Cora Gold shares fell 5.5% to 2.08 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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Cora Gold (CORA)