Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n \nRNS Number : 9853S Cora Gold Limited 09 October 2017 \n\nCora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n9 October 2017\n Cora Gold Limited (\"Cora Gold\", \"Cora\" or \"the Company\")\nFirst Day of Dealings on AIM\n \nCora Gold Limited, the West African focused gold exploration company, is pleased to announce that its ordinary shares will commence trading on AIM at 8.00 a.m. today under the ticker CORA.L (\"Admission\"). As part of the Admission process, the Company has raised £3.45 million (US$4.6 million), before expenses, through a Placing and Subscription of 20,928,240 new ordinary shares of no par value at a placing price of 16.5p each implying a market cap of £9.07 million on Admission. \n \nThe majority of the net proceeds of the fundraising will be used for a planned exploration programme that will principally focus on the Company's flagship project, the Sanankoro Gold Discovery in southern Mali (\"Sanankoro\"), as well as some exploration activities on its other properties. Sanankoro will be the focus of the Company's activities in the near term with the ultimate objective being to establish a mineral resource estimate.\n \nThe Company's Nominated Adviser is Allenby Capital Limited and its Joint Brokers are Mirabaud Securities Limited and Beaufort Securities Limited.\n \nOverview\n· Developing a highly prospective gold portfolio including three principal de-risked project areas (1,700km2) in established gold regions: Yanfolila Gold Belt in Mali and Kenieba Window in Mali/Senegal with multiple, high potential, drill ready gold targets\n· Raised £3.45 million on AIM Admission with proceeds to further develop Sanankoro which has the potential for a standalone mine development\no Substantial historical exploration spend by Randgold and Gold Fields since 2001 has provided a comprehensive database of information\no To date detailed exploration has only focused on two zones, of 600m and 1,000m length, within the 14km long gold bearing structures identified from reconnaissance drilling\no Extensive artisanal workings have confirmed the continuity of the mineralisation at Sanankoro\no 15,000m exploration drilling programme planned, prioritising expansion of Sanankoro\n· ...