Cora Gold Ltd has conditionally raised between £12,854,074.26 and £13,707,141.36, before expenses, through a subscription by Eagle Eye Asset Holdings Pte. Ltd.
EAGLE EYE
The subscription for up to 228,452,356 new ordinary shares of no par value is at six pence per ordinary share, which is a 44% discount to the closing mid-market price of 10.75p on 6 February 2026.
Cora also plans to run a retail offer for its existing shareholders, of up to 33,333,333 new ordinary shares, to raise up to £1,999,999.98, at the issue price.
The company said that, on completion of the fundraise, Eagle Eye would hold a maximum of 29.90% of its enlarged issued share capital.
Under the terms of the investment, Eagle Eye may appoint a representative as a non-executive director to Cora’s board, who will be Aryann Gupta.
Cora noted that Eagle Eye is a Singapore-based single-family office, and a major strategic shareholder and funding partner for Toubani Resources Ltd, which backs the Kobada gold project in Mali.
Toubani is additionally an investor in “other African infrastructure and mining projects”.
The fundraise is conditional on providing a title opinion on Cora’s gold assets in Mali, shareholders’ approval and admission of the new ordinary shares no later than 6 April 2026.
The company added that completion of the retail offering was conditional on completion of the subscription.
USES
Net proceeds of the fundraise will progress Cora’s principal project of Sanankoro, in southern Mali, towards production.
Funds will also be used for exploration on the company’s permits and as general working capital.