Cora Gold Shares Surge 33% Following Mali’s Lift of Mining Permit Moratorium

Cora Gold’s shares surged by 33% following Mali’s decision to partially lift its moratorium on mining permits. Starting March 15, applications for permit renewals and transitions from exploration to mining will be processed. This development is particularly advantageous for Cora Gold as it seeks to expedite the development of its Sanankoro Gold Project.

On March 10, 2025, shares of Cora Gold Ltd (AIM:CORA) witnessed a substantial increase of 33% during early trading following the Malian government’s decision to partially lift its moratorium on mining permits. This moratorium, which had been in effect since late 2022, previously halted new mining titles and transfers, leading to significant uncertainty for mining companies operating in Mali.

Effective March 15, Mali’s mining authorities plan to resume the processing of applications for various types of permits, including renewals and transitions from exploration to mining. Nevertheless, the moratorium on new mining titles and exploration permit transfers will continue, maintaining some restrictions in the sector.

For Cora Gold, this development represents a significant milestone, particularly as the company’s flagship Sanankoro Gold Project had encountered delays in permitting processes. With the completion of the permit re-drawing exercise, Cora Gold intends to apply for a mining permit that will cover crucial areas within its Sanankoro licence region, facilitating the prompt development of an open-pit oxide gold mine.

As a result of these announcements, shares were reported at 4.13p, reflecting an increase of 1.3p.

The partial lifting of the moratorium on mining permits by the Malian government marks a pivotal moment for Cora Gold, enabling the company to advance its Sanankoro Gold Project. While the suspension of new mining titles persist, the ability to process existing permits has instilled a renewed sense of progress and optimism for future gold mining endeavors in Mali.

Original Source: www.proactiveinvestors.co.uk