Cora Gold secures $120m in funding for Mali project

Cora Gold has secured a $120m gold-stream financing from Eagle Eye Asset (EEA) to fully fund development of the Sanankoro project in Mali when combined with a recent £15.7m ($21.2m) equity raise. The deal removes near-term funding risk, allows Cora to convert up to $60m of the stream into senior debt within 240 days of approvals, and gives EEA the right to buy 30.44% (15.22% if partially replaced) of production at 20% of the prevailing gold price. The 2025 DFS estimates $124m capex, AISC ~$1,478/oz, average production of 64,000 oz/year (first five years), post-tax NPV8 of $221m and IRR of 65% (rising to NPV8 $319m/IRR 88% at $3,250/oz). Market impact: the financing materially de-risks and accelerates project timelines, bullish for Cora’s valuation and supportive for gold exposure (XAUUSD).