(Alliance News) - Cora Gold Ltd on Tuesday said it is still awaiting receipt of consideration from one counterparty in relation to recent financing, due to an administrative delay.
The West African focused gold company on February 24 said this was after it raised USD19.8 million from an equity fundraise and via convertible loan notes.
It said that the funds raised would be primarily used to launch the development of Cora's Sanakoro gold project in southern Mali.
While the company is still waiting for receipt of consideration, it said that it will proceed to close the fundraise once consideration is received. It will then apply for admission to trading on the AIM market of the London Stock Exchange.
Shares were down by 3.8% at 3.85 pence each in London on Tuesday afternoon.
By Sabrina Penty; Alliance News reporter
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Cora Gold (CORA)