Cora Gold Ltd (AIM:CORA) CEO Bert Monro takes Proactive's Stephen Gunnion through the latest updates on the company's Sanankoro gold project in Southern Mali, highlighting its development stage after delivering a positive Definitive Feasibility Study (DFS) and maiden reserves of over 400,000 ounces of gold.
He explained how Sanankoro's economics, based on a $1,750 gold price, present a 53% internal rate of return (IRR) and a 1.2-year payback period, making it an attractive project in Mali's favourable mining environment. Monro also discussed Cora Gold's exploration update, revealing 50km of exploration potential with 20 new targets. Additionally, he mentioned Cora Gold’s ongoing work in Senegal at the Madina Foulbé project, which continues to show promise with encouraging drill results.
Monro noted that with gold prices currently higher, Sanankoro’s profitability looks even better, with all-in-sustaining costs at under $1,000 per ounce. He also addressed the importance of Mali’s new mining code, which Cora Gold is closely following to secure the necessary permits to move ahead with full-scale development.
