Cora Gold’s shares soared 33% after Mali partially lifted its moratorium on mining permits. Effective March 15, the government will process existing permit renewals and transitions but still restricts new mining titles. This development is vital for Cora’s Sanankoro Gold Project, allowing for potential rapid advancement towards operational status.
Cora Gold Ltd (AIM:CORA) experienced a 33% surge in shares during early trading on March 10, 2025, following the Malian government’s announcement of a partial lift on its moratorium regarding mining permits. This suspension, enacted in late 2022, had halted the issuance and transfer of new mining titles, creating significant uncertainty for involved companies.
Starting March 15, Mali’s mining authorities will process applications for permit renewals, transitioning from exploration to mining, and the transfer of existing operational permits. However, new mining titles and exploration permit transfers will still remain suspended.
This decision marks a significant opportunity for Cora Gold, particularly for its Sanankoro Gold Project situated in southern Mali, which had faced delays in permitting. With a re-drawing exercise of permits now completed, the company plans to apply for a mining permit in crucial areas of its Sanankoro license. This initiative aims to expedite the development of an open-pit oxide gold mine.
In conclusion, Cora Gold’s share price increase reflects positive movement following Mali’s decision to partially lift the mining permit moratorium. The ability to process existing permits, though limited, presents a crucial opportunity for Cora to advance its key projects, especially the Sanankoro Gold Project, which is now poised for expedited development.
Original Source: www.proactiveinvestors.co.uk
