Business
Interim Results: Six Months Ended 30 June 2023
Interim Results: Six Months Ended 30 June 2023.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n\n \n \n \n Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n\n25 September 2023\n \nCora Gold Limited\n('Cora' or 'the Company')\n\nInterim Results for the Six Months Ended 30 June 2023\n \nCora Gold Limited, the West African focused gold company, is pleased to announce its unaudited interim results for the six months ended 30 June 2023.\n \nHighlights\n \n● During H1 2023:\n● Closed a fundraising for aggregate investments of over US$19.8 million (see announcement dated 10 March 2023), comprising:\n● an Equity Financing through the issue of 80,660,559 ordinary shares of no par value in the capital of the Company ('Ordinary Shares') at a price of US$0.0487 per Ordinary Share for total gross proceeds of US$3,928,169.26; plus\n● a Convertible Financing through the issue of convertible loan notes ('CLN') convertible into Ordinary Shares for a total of US$15,875,000.\n● Entered into a mandate letter to appoint Atlantique Finance to act as sole adviser in the structuring and mobilisation of a medium-term loan of US$70 million in CFA franc ('XOF') to support funding the development of Cora's flagship Sanankoro Gold Project in south Mali (see announcement dated 28 June 2023).\n \n● As at 30 June 2023, the balance of cash and cash equivalents was over US$18.4 million.\n \n● Post period end, confirmed the extension of certain convertible loan rights due to mature on 09 September 2023 and as a result the CLN issued by the Company on 13 March 2023 have an extended maturity date of 12 March 2024 (see announcement dated 11 September 2023). As at the date of this announcement, the Company had an unsecured obligation in relation to issued and outstanding CLN for a total of US$15,250,000, being convertible into Ordinary Shares in accordance with the Convertible Loan Note Instrument dated 28 February 2023 as amended.\n \nBert Monro, Chief Executive Officer of Cora, commented, \"I am very pleased with the ongoing support received from the Company's long-term shareholders and holders of CLN. Following the recent promulgation of a new Mining Code in Mali, we look forwar...