Cora Gold shares rose 33% after Mali announced a partial lifting of its mining permit moratorium. Starting March 15, the government will process existing permit renewals and transitions. Cora plans to expedite development for its Sanankoro Gold Project following its permit re-drawing exercise.
Cora Gold Ltd (AIM:CORA) experienced a significant share price increase of 33% during early trading on Monday, following the announcement from the Malian government regarding the partial lifting of the moratorium on mining permits. This moratorium, established in late 2022, had caused considerable disruption by halting new mining titles and transfers, thus creating uncertainty for operating companies in Mali.
Starting from March 15, Mali’s mining authorities will begin processing applications for permit renewals, transitioning exploration permits into mining permits, and facilitating transfers of existing operating permits. Notably, the suspension on new mining titles and exploration permit transfers remains in effect.
This development represents a crucial advancement for Cora, particularly for its flagship Sanankoro Gold Project located in southern Mali, which had previously faced permitting challenges. With the completion of a permit re-drawing exercise, Cora intends to apply for a mining permit that encompasses key areas of the Sanankoro license. The company’s goal is to expedite the establishment of an open-pit oxide gold mine at the earliest opportunity.
As a result of these optimistic developments, Cora’s stock price rose by 1.3p, reaching a value of 4.13p.
The share price of Cora Gold Ltd surged by 33% following the Malian government’s partial lifting of the mining permit moratorium, indicating a positive shift in the company’s operational outlook. With the upcoming processing of permit renewals and transfers, Cora aims to advance its Sanankoro Gold Project efficiently, demonstrating a pivotal moment for the company’s development prospects in Mali.
Original Source: www.proactiveinvestors.co.uk
