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20 May 2019 | 13:24

Cora Gold swings to loss on mine development costs

Cora Gold swung to a full-year loss as it continued to prove up its Sanankoro gold discovery in southern Mali.

Pre-tax losses for the year through December amounted to $837k, compared to losses of $3.6m on-year.

'Work undertaken in 2018 has enabled the Company to continue to advance the Sanankoro gold discovery and we are looking forward to commencing a 6,000m drilling campaign with the objective of establishing a maiden gold oxide mineral resource estimate by the fourth quarter of 2019 ahead of the delivery of a scoping study,' chief executive chief executive Jonathan Forster said. said.

'Following our recent fundraise of £1.35m, which was supported by existing shareholders and various board members, we are well funded to complete this work.'

At 1:24pm: (LON:CORA) Cora Gold Limited Ord Npv Di share price was 0p at 3.9p

Story provided by StockMarketWire.com
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