Cora appoints key DFS consultant to lead updated Sanankoro study
Aim-listed Cora Gold has appointed DRA Global group company, New Senet, to oversee an updated definitive feasibility study (DFS) at its flagship Sanankoro gold project, in south Mali.
Cora says the updated DFS, as well as updated ore reserves, will reflect the successful delineation of an enhanced over one-million-ounce mineral resource estimate (MRE) and processing optimisation studies that are under way.
Given the recent record high gold prices – currently about $3 000/oz – the company notes that the updated DFS is expected to significantly enhance Sanankoro's already strong cash flow projections reported in the November 2022 DFS, which was based on a gold price of $1 750/oz.
Cora says the updated DFS underpins its commitment to maximising the development potential of Sanankoro and ensuring operational readiness post completion of the DFS.
Alongside the updated DFS, Cora says it is focused on completing permitting and financing as quickly as possible to expedite mine construction at Sanankoro.
"Given the significant rise in the gold price since our November 2022 DFS, which showed a 53% internal rate of return at a gold price of $1 750/oz, and a subsequent increase to an over one-million-ounce MRE in January, we are confident that the updated reserves and DFS will significantly bolster the value of Sanankoro as we advance towards mine construction.
"We are pleased to be having regular positive engagement with the government of Mali on our mine permit application and look forward to providing further updates on this progress in due course,” says Cora CEO Bert Monro.
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