Proactiveinvestors RSS feed en Tue, 16 Oct 2018 08:19:01 +1100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[RNS press release - Replacement: Clarification on Exploration Target ]]> Mon, 15 Oct 2018 21:03:46 +1100 <![CDATA[RNS press release - Exploration Target Confirms Multi-Moz Au Potential ]]> Mon, 15 Oct 2018 17:00:03 +1100 <![CDATA[RNS press release - Interim Results and QCA Code Compliance ]]> Fri, 28 Sep 2018 16:00:04 +1000 <![CDATA[RNS press release - Change of Adviser ]]> Thu, 27 Sep 2018 16:00:18 +1000 <![CDATA[RNS press release - Holding(s) in Company ]]> Thu, 20 Sep 2018 20:30:01 +1000 <![CDATA[RNS press release - Final Assay Results from Tekeledougou ]]> Mon, 17 Sep 2018 16:00:06 +1000 <![CDATA[RNS press release - Impressive High Grades at Sanankoro Gold Discovery ]]> Thu, 26 Jul 2018 16:00:05 +1000 <![CDATA[RNS press release - Total Voting Rights ]]> Sat, 30 Jun 2018 02:00:01 +1000 <![CDATA[RNS press release - Appointment of Joint Broker ]]> Tue, 19 Jun 2018 20:15:03 +1000 <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 12 Jun 2018 22:08:10 +1000 <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 12 Jun 2018 22:06:15 +1000 <![CDATA[RNS press release - Result of AGM and Total Voting Rights ]]> Tue, 12 Jun 2018 22:00:51 +1000 <![CDATA[RNS press release - High Grade Gold Zones at Sanankoro ]]> Mon, 04 Jun 2018 16:00:07 +1000 <![CDATA[RNS press release - Final Results ]]> Mon, 21 May 2018 16:30:05 +1000 <![CDATA[RNS press release - Significant Shareholder Increases Interest ]]> Fri, 18 May 2018 16:00:05 +1000 <![CDATA[RNS press release - New Corporate Presentation ]]> Thu, 10 May 2018 19:25:02 +1000 <![CDATA[RNS press release - Exciting High-Grade Tekeledougou Drill Results ]]> Tue, 01 May 2018 16:00:04 +1000 <![CDATA[RNS press release - Drill Results Confirm 3.6km Continuous Gold Zone ]]> Tue, 24 Apr 2018 16:00:03 +1000 <![CDATA[RNS press release - Tekeledougou Reconnaissance Drilling Completed ]]> Mon, 09 Apr 2018 17:25:18 +1000 <![CDATA[RNS press release - Highly Prospective Madina Fulbe Permit Renewed ]]> Thu, 29 Mar 2018 17:00:13 +1100 <![CDATA[RNS press release - Stage 2 Drilling Completed at Gold Discovery, Mali ]]> Thu, 22 Mar 2018 18:00:04 +1100 <![CDATA[RNS press release - Drilling Commences at Tekeledougou Project ]]> Wed, 14 Mar 2018 18:00:03 +1100 <![CDATA[RNS press release - Statement re Broker ]]> Fri, 02 Mar 2018 22:00:01 +1100 <![CDATA[RNS press release - Impressive Initial Results ]]> Mon, 29 Jan 2018 18:00:03 +1100 <![CDATA[News - Cora Gold makes strong start to drilling at Sanankoro in Mali ]]> Recent AIM-listee Cora Gold Limited (LON:CORA) has reported good grades from first drilling at the Sanankoro gold project in southern Mali.

Shallow reconnaissance drilling at Target 1 confirmed a new gold discovery of at least 1,200m and possibly more than 3,000m, the company said.

READ: Cora Gold targeting a million ounces of gold in oxides, just for starters

Jonathan Forster, Cora’s chief executive, said the result had vindicated the decision to step away from the known zones of gold mineralisation at Sanankoro to demonstrate the extensive gold endowment of the belt.

“The results, which are shallow with broad zones of high grade mineralisation, provide great encouragement with respect to the mineralised potential of the over 15km of identified strike at Sanankoro.”

Drill targets identified

The company has identified numerous drill targets and Cora believes there is one million ounce potential at Sanankoro.

Best of the assays were 17m at 5.43g/t gold at a depth of 67m and 11m at 5.24g/t close to surface.

Target 1 remains open to the north, south and at depth, Cora added, while drilling so far only tested to vertical depths of up to 100m.

A Stage 2 drilling programme is already underway with 4,000m of combined shallow and 500m of deeper diamond core focusing on Sanankoro Zones A, B and C.

In mid-morning trading, Cora Gold shares were nearly 4% higher at 17.5p.

 -- Adds share price --


Mon, 29 Jan 2018 08:42:00 +1100
<![CDATA[RNS press release - Stage 1 Drilling Complete, New Targets Identified ]]> Thu, 11 Jan 2018 18:00:02 +1100 <![CDATA[RNS press release - Shares Option Scheme ]]> Wed, 20 Dec 2017 18:00:04 +1100 <![CDATA[RNS press release - Director Dealings ]]> Tue, 05 Dec 2017 22:00:01 +1100 <![CDATA[RNS press release - Drilling Commences at Sanankoro Gold Discovery ]]> Mon, 04 Dec 2017 18:00:02 +1100 <![CDATA[RNS press release - Positive Update from Sanankoro Gold Discovery ]]> Thu, 02 Nov 2017 18:00:03 +1100 <![CDATA[RNS press release - Appointment of Drilling Contractor for Sanankoro ]]> Tue, 17 Oct 2017 17:00:03 +1100 <![CDATA[RNS press release - Holding(s) in Company ]]> Fri, 13 Oct 2017 19:34:53 +1100 <![CDATA[Media files - Have mining markets turned for the better ? ]]> Fri, 13 Oct 2017 11:13:00 +1100 <![CDATA[RNS press release - Director Dealings ]]> Thu, 12 Oct 2017 21:15:01 +1100 <![CDATA[News - Cora Gold targeting a million ounces of gold in oxides, just for starters ]]> It’s a mixture of assets and expertise that turned heads easily enough in London in the summer and autumn of this year, as Jon Forster and long-time colleague Craig Banfield set about marketing Cora Gold Limited (LON:CORA) to institutions and other high net worth individuals.

The company eventually got away on the Aim market on 9 October, sporting a very decent share register and a market capitalisation of around £9 mln.

It also had an exploration budget of £3.45 mln with which to get down to serious work on its suite of gold assets in Mali.

This is a company that’s had a reasonably long gestation period, having been built up into a marketable proposition over a number  of years, culminating in the  combination of non core Hummingbird Resources (LON:HUM) exploration assets and those already in Cora Gold, so there’s been plenty of time to put together a plan of campaign.

Forster is by inclination an explorer and he’s keen to get to work on the ground, although in the run-up to and during the listing time the company has benefitted from the corporate experience he and Banfield also bring – it goes back to the early 1990s and the days of SAMAX, a company which essentially opened up Tanzania to modern junior exploration.

Success was also had with gold discoveries in in AXMIN and subsequently the discovery of the Mako project in Senegal, currently in the final stages of a production programme being conducted privately by Toro Gold.

But in latter years Forster has been focussing on Mali and most recently on the primary targets inside Cora which were brought into the company in a deal struck with Hummingbird before the listing.

“Craig and I started Cora Gold and established an exploration portfolio,” says Forster. “But then we met with Hummingbird and did a deal on a package of assets that were non-core for them.”

It was a case of use-it-or-lose it for Hummingbird, and because Hummingbird had been all hands on deck with the construction of its Yanfolila gold mine, it was running out of time. No exploration had been conducted on the Sanankoro discovery since 2013, when gold was still slated by some to go to US$2,000.

Instead, it fell, and Gold Fields (NYSE:GFI), the then owner of Sanankoro, walked away from Mali altogether. Into the breach stepped Hummingbird. But Hummingbird operates on an altogether smaller scale than Gold Fields and really needed a team like Banfield and Forster to get the earlier stage exploration assets moving.

But although it’s early stage, Forster knows what he’s looking at, and he knows where he’s going with Sanankoro. Although Hummingbird retains a 33%-plus stake in Cora, in no sense is this any sort of a satellite company to the Hummingbird asset.

“ Systematic reconnaissance drilling by Gold Fields covered the entire  14 km length of the Sanankoro structure” says Forster, the results of which demonstrate the potential for gold mineralisation  along its length.

“Two initial zones were followed up by Gold Fields, over a zone with about 1.6 kilometres of strike. And this covers less than 10% of the total gold domain.”

What’s more, says Forster, the mineralisation that was revealed by Gold Fields shows clear potential for economic widths and grades.

His aim is clear. “Our first principal objective is to create a new standalone mine.”

Public announcements issued at the time of listing speak of the potential for Sanankoro to contain more than a million ounces of gold. With the £3.45 mln exploration budget now banked, the aim is now to go out and demonstrate a good portion of that scale.

Still, investors will have to bear with him if they are in a hurry for confirmation of that one million ounce number. Because, rather than chasing an immediately marketable resource, it’s actual evidence of scale that he’s going after first, with official confirmation from consultants likely to follow on further down the line.

On the flip side, there’s also the prospect of early cash flow from another suite of assets that are well within trucking distance Hummingbird’s Yanfolila mine.

And there’s also a third suite of assets on the geological structure to the west known as the Keneiba Window. This too is within trucking distance of another mine, Anglo’s Sadiola project.

And Sadiola is now transitioning through its oxide oreto sulphides and might be grateful for a little bit more easier-to-process ore from a near-neighbour.  

All of which sets Cora Gold up well in terms of upcoming newsflow. There’s unlikely to be any cash call for eighteen months or so, so it will be all about building value on the ground in Mali, demonstrating that scale and delivering some good exploration results.

If anyone can do it, Forster can.




Thu, 12 Oct 2017 11:05:00 +1100
<![CDATA[RNS press release - Director Dealings ]]> Wed, 11 Oct 2017 22:50:01 +1100 <![CDATA[RNS press release - First Day of Dealings on AIM ]]> Mon, 09 Oct 2017 17:00:03 +1100 <![CDATA[Media files - Cora Gold raises £3.45mln through AIM listing to advance flagship Mali project ]]> Mon, 09 Oct 2017 13:27:00 +1100 <![CDATA[News - Cora Gold lists on AIM, with Hummingbird as major shareholder ]]> Cora Gold Limited (LON:CORA) has debuted on AIM at a price of 16.5p per share, following a £3.45mln fundraising.

Hummingbird Resources PLC (LON:HUM) holds a 33.85% stake, valued on listing at approximately US$5mln, since Cora’s overall market capitalisation will be just under £10mln.

READ: Hummingbird building a gold production presence in Africa and on the London market WATCH: Cora boss discusses junior market IPO

The majority of the net proceeds of the fundraising will be used for a planned exploration programme that will principally focus on the Sanankoro gold discovery in southern Mali.

The ultimate aim will be to establish a resource estimate, although some exploration on other properties will also take place.

"Our objective is to create value by turning the Sanankoro gold discovery into a mine and the drill ready gold targets at our other project areas into discoveries,” said chief executive Jon Forster. 

“We were delighted with the reception to Cora in the lead up to our IPO and having raised £3.45mln we are now funded to further develop our portfolio of highly prospective gold projects in established gold areas, predominantly in Mali. Our initial focus will be on our flagship Sanankoro project and with substantial historical data from both Gold Fields and Randgold we believe we have very good potential to increase the scale of the discovery to plus-one million ounces of in-situ gold and create a standalone mine."

--Updates for video link--




Mon, 09 Oct 2017 08:32:00 +1100