(Ecofin Agency) - Cora Gold, active in Mali on the Sanankoro gold project is now listed on AIM, London’s alternative stock market.

“Today is a seminal day for Cora Gold marking our admission to the LSE as a West African gold developer and explorer,” CEO Jon Forster said.  

Subsequent to the listing, Cora Gold was able to raise £3.45 million by placing and subscribing 20.93 million new ordinary shares, at 16.5p per share. The proceeds of the fundraising will mostly serve to finance a drilling programme at Sanankoro, and many of the firm’s other assets.

Cora Gold is held at 33.85% by Hummingbird Resources, which is active on the Yanfolia project in Mali. The firm believes the Sanankoro project could hold more than a million ounces of gold.