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Cora Gold Ltd - West Africa-focused gold explorer - Says Lionhead Capital Advisors Proprietary Ltd has confirmed it does not intend to terminate the term sheet for the funding of Cora's flagship Sanankoro Gold Project if Cora fails to deliver the definitive feasibility study by June 30. The delivery of the DFS by the deadline was part of the terms and conditions of the $25 million mandate and term sheet with Lionhead, as announced last September.
After the conclusion of the 2022 drill programme in May, Cora had announced its intention to update its mineral resource estimate for the project, which would consequently cause a delay to the DFS.
The DFS is now expected in the third quarter.
Current stock price: 6.35 pence
12-month change: down 21%
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