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Pin to quick picksCora Gold Regulatory News (CORA)

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Update on Capital Structure

13 Mar 2024 07:00

RNS Number : 5847G
Cora Gold Limited
13 March 2024
 

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

 13 March 2024

Cora Gold Limited

('Cora' or 'the Company')

 

Update on Capital Structure and Repayment of Convertible Loan Notes

 

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

 

Following the conversion on 27 February 2024 of an aggregate amount of US$2,278,500 of convertible loan notes ('CLN') for 81,960,427 ordinary shares of no par value in the capital of the Company ('Ordinary Shares') (see RNS dated 27 February 2024), issued and outstanding CLN for a total of US$12,971,500 matured on 12 March 2024. After repayment of the outstanding CLN at a 5% premium to the total amount outstanding under the CLN, the Company's balance of cash and cash equivalents is in excess of US$2.9 million.

 

Bert Monro, Chief Executive Officer of Cora, commented, "With strong cash reserves, we look forward to providing progress updates on our Sanankoro Gold Project in Mali, including submission of the application for a mining permit once the current moratorium is lifted, as well as wider exploration activities across our permits."

 

Capital Structure

Immediately post maturity of the Company's outstanding CLN on 12 March 2024, Cora's issued and outstanding capital structure comprised:

? 452,178,145 Ordinary Shares;

? share options over 4,300,000 Ordinary Shares exercisable at 10 pence per Ordinary Share expiring on 12 October 2025;

? share options over 5,050,000 Ordinary Shares exercisable at 10.5 pence per Ordinary Share expiring on 08 December 2026; and

? share options over 13,350,000 Ordinary Shares exercisable at 4 pence per Ordinary Share expiring on 13 March 2028.

 

Market Abuse Regulation ('MAR') Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.

 

**ENDS**

 

For further information, please visit http://www.coragold.com 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

Isabelle Morris

Isabel de Salis

St Brides Partners

(Financial PR)

pr@coragold.com

 

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 Reserve of 422 koz 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDDLLFFZXLBBBQ
Date   Source Headline
5th Dec 20197:00 amRNSMaiden Resource at Sanankoro
19th Nov 20197:00 amRNSCommencement of drilling at Sanankoro
12th Nov 201912:32 pmRNSDirectorate Changes
4th Nov 20197:00 amRNSSummary of Recent Work Programme at Sanankoro
31st Oct 20198:29 amRNSDirector Dealing
30th Oct 201911:25 amRNSDirector Dealing
25th Oct 201910:49 amRNSDirector Dealing
21st Oct 20197:00 amRNSMetallurgical Testwork Results
10th Oct 20197:05 amRNSGranting of Share Options
10th Oct 20197:00 amRNSProposed Management and Directorate Changes
9th Oct 20195:08 pmRNSHolding(s) in Company
30th Sep 20197:00 amRNSGold Mineralisation Confirmed at Zone B North
27th Sep 201912:59 pmRNSResult of General Meeting and PDMR Dealings
23rd Sep 20197:00 amRNSPDMR Subscription
18th Sep 201912:00 pmRNSInvestor Event
12th Sep 20197:00 amRNSInterim Results
11th Sep 20197:00 amRNSFurther Gold Mineralisation Confirmed at Zone B
10th Sep 20199:50 amRNSHolding(s) in Company
5th Sep 20199:55 amRNSFundraising and Notice of General Meeting
29th Aug 201910:49 amRNSAIM Rule 17 Notification
19th Aug 20197:00 amRNSFurther Gold Mineralisation Confirmed at Depth
13th Aug 201911:05 amRNSSecond Price Monitoring Extn
13th Aug 201911:00 amRNSPrice Monitoring Extension
12th Aug 20192:05 pmRNSSecond Price Monitoring Extn
12th Aug 20192:00 pmRNSPrice Monitoring Extension
7th Aug 20197:00 amRNSFurther Gold Mineralisation at Selin Prospect
29th Jul 20197:00 amRNSGold mineralisation confirmed at depth at Zone A
24th Jul 20197:00 amRNSNew Exploration Permit Granted
19th Jul 20197:00 amRNSGold Mineralisation at Depth at Sanankoro
1st Jul 20197:00 amRNSDirectorate Change
27th Jun 20192:05 pmRNSSecond Price Monitoring Extn
27th Jun 20192:00 pmRNSPrice Monitoring Extension
26th Jun 20197:00 amRNSPreliminary Metallurgical Test Results
24th Jun 20197:00 amRNSHolding(s) in Company
11th Jun 201912:31 pmRNSResult of AGM
3rd Jun 201912:02 pmRNSDirector Dealings
20th May 201910:22 amRNSFinal Results
8th May 20198:56 amRNSSanankoro Gold Discovery Update
30th Apr 20194:47 pmRNSHolding(s) in Company
30th Apr 20192:05 pmRNSHolding(s) in Company
29th Apr 201912:38 pmRNSResult of General Meeting & Directors Dealing
29th Apr 201911:05 amRNSSecond Price Monitoring Extn
29th Apr 201911:01 amRNSPrice Monitoring Extension
5th Apr 20191:52 pmRNSFundraising and Notice of General Meeting
21st Mar 201912:33 pmRNSSanankoro Update Including Upcoming Work Programme
18th Mar 20194:40 pmRNSSecond Price Monitoring Extn
18th Mar 20194:35 pmRNSPrice Monitoring Extension
18th Mar 20197:00 amRNSUp to 97% Gold Recovery Indicated at Sanankoro
7th Mar 201911:30 amRNSDrill Results from the Selin Prospect
26th Feb 20197:00 amRNSDrill Results at Sanankoro Gold Discovery

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