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13 Jan 2025 07:00
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
13 January 2025
Cora Gold Limited
('Cora' or 'the Company')
Board Changes
Cora Gold Limited, the West African focused gold company, is pleased to announce the appointment of Adam Davidson as an Independent Non-Executive Director. Mr. Davidson has extensive experience in the natural resources sector, which will be beneficial to Cora as it seeks to commence mine construction at the Company's Sanankoro Gold Project ('Sanankoro' or the 'Project') in southern Mali.
Mr. Davidson's experience spans a breadth of jurisdictions and commodities. He was the founding CEO of AIM-listed Trident Royalties plc (AIM:TRR; 'Trident'), which was acquired by Deterra Royalties Limited (ASX:DRR) in 2024. Prior to Trident, Mr. Davidson worked for Resource Capital Funds, a leading mining-focused private equity firm, and previously held positions with BMO Capital Markets and Orica Mining Services. Mr. Davidson is a graduate of the Australian Institute of Company Directors, currently serves on the board of South Atlantic Gold Inc (TSX-V: SAO) and was previously a Non-Executive Director of RG Gold, a private gold producer. He earned his MBA from the College of William & Mary and completed a post-graduate in Mining Studies from the University of Arizona.
Alongside Mr. Davidson's appointment, Cora announces that David Pelham has stepped down from the Board as a Non-Executive Director, effective immediately. Mr. Pelham will continue to support the Company as a Technical Adviser, using his extensive knowledge as a geologist with over 45 years' experience.
Bert Monro, Chief Executive Officer of Cora, commented, "We are hopeful that 2025 will be a year of significant progress for Cora, which, subject to the lifting of the moratorium on the issuance of permits in Mali, will ultimately see us commence mine construction at our Sanankoro Gold Project. As we look to ensure operational readiness, we are delighted to welcome Adam to the team. His extensive experience across the mining sector will be of great value to our company as we look to complete the final permitting and financing steps.
"I would like to thank Dave Pelham for his contributions to the Company as he steps down from the Board. We are delighted that Dave will continue to be a Technical Adviser to the Company; his extensive geological knowledge and experience has already added significant value to our Company and I look forward to being able to call on his advice going forward."
Ed Bowie, Chairman of Cora, commented, "On behalf of the Company and all our stakeholders, I would like to thank Dave for his years of service. He has made a significant contribution to the advancement of the Company and in particular our exploration efforts at Sanankoro. We look forward to his continued valuable input as a Technical Adviser.
"I look forward to welcoming Adam to the Board. He has the ideal skills and expertise to support the Company as we transition to becoming a gold producer."
The following disclosures are made pursuant to Schedule 2 paragraph (g) of the AIM Rules.
Adam Forrest Davidson, age 41, holds/held the following directorships and/or partnerships:
Current Directorships / Partnerships | Former Directorships / Partnerships (within the last 5 years) |
Sonoroy Holdings Limited South Atlantic Gold Inc. Trident Royalties Limited TRR Offtakes, LLC TRR Services UK Limited TRR Services, LLC TRR Services Schweiz AG TRR Sonora Limited
| n/a
|
There are no further disclosures required to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.
**ENDS**
For further information, please visit http://www.coragold.com, follow us on social media (LinkedIn and X: @cora_gold) or contact:
Bert Monro Craig Banfield | Cora Gold Limited | info@coragold.com
|
Derrick Lee Pearl Kellie | Cavendish Capital Markets Limited (Nomad & Broker) | +44 (0)20 7220 0500 |
Susie Geliher Charlotte Page | St Brides Partners (Financial PR) | cora@stbridespartners.co.uk |
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, its primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt, south Mali, into an open pit oxide mine. Based on a gold price of US$1,750/oz and a Maiden Probable Oxide Reserve of 422koz at 1.3 g/t Au, the Project has strong economic fundamentals, including 52% IRR, US$234 million Free Cash Flow over life of mine and all-in sustaining costs of US$997/oz. 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 Kenieba Project Area of east Senegal.
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