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Cora Gold Limited - Management Appointment – Head of Exploration

RNS Number : 0952Z
Cora Gold Limited
16 September 2020

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

16 September 2020

Cora Gold Limited ('Cora', 'Cora Gold' or 'the Company')

Management Appointment - Head of Exploration


Cora Gold Limited, the West African focused gold company, is pleased to announce the appointment of Mr. Norman ('Norm') Bailie as Head of Exploration with immediate effect.  Mr Bailie is assuming the non-board position previously held by Dr. Jonathan ('Jon') Forster who is retiring from this role but will continue to be retained as an adviser to the Company.


Mr Bailie is an accredited Chartered Professional Geologist and Manager with 29 years' experience in gold mining and exploration.  Norm joins Cora from his most recent role as Group Exploration Manager for Centamin plc, the FTSE250 gold mining company (LSE: CEY).  He boasts a wealth of exploration experience across Africa and has held senior positions with junior explorers, mid-tier and major mining companies, independent private funds and consultancies and has worked from established mine-based operations to greenfield appraisal and new country reconnaissance.


Norm has a proven track record of over 30Moz in resource discovery and driven successful exploration growth at a number of major African mines such as Sukari, Tasiast, Chirano and Obuasi.  He has extensive M&A experience and a thorough understanding of the full development path from grass roots, feasibility, reserve definition, exploitation and reconciliation.


Norm will be taking over from Jon Forster as Head of Exploration where he will direct resource discovery and growth, manage the geological modelling, Mineral Reserve Estimation delivery and contribute to the corporate development strategy.


Ed Bowie, Non-Executive Chairman, said, "On behalf of the board and the whole Company I would like to give huge thanks to Jon for his invaluable contribution throughout his tenure.  Jon co-founded Cora and has been integral in devising and executing our growth strategy and has contributed greatly to get us where we are today. We are fortunate to have him continue working with Cora as an adviser and wish him all the best in his retirement.


"I am delighted to welcome Norm to the Cora team. The addition of an individual with his experience and expertise has come at an exciting time for Cora, specifically as we move forward to our next field season and continue working towards the completion of a Definitive Feasibility Study on Sanankoro by the end of 2021.  Having been involved in over 30Moz of discovery and definition in Africa during his career he is ideally suited to help take Cora to the next stage.  This experience will be valuable as we work towards our primary objective of further developing Sanankoro with both Resource growth and completing a DFS."


Being a member of The Australasian Institute of Mining and Metallurgy and a Fellow of the Geological Society, Mr. Norm Bailie qualifies as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.



For further information, please visit http://www.coragold.com or contact:


Bert Monro / Norm Bailie

Cora Gold Limited

+44 (0) 20 3239 0010

Christopher Raggett / Charlie Beeson

finnCap Ltd

(Nomad & Joint Broker)

+44 (0) 20 7220 0500

Andy Thacker

Turner Pope Investments

(Joint Broker)

+44 (0) 20 3657 0050

Megan Dennison / Susie Geliher

St Brides Partners

(Financial PR)

+44 (0) 20 7236 1177



Cora Gold is a gold company focused on two world class gold regions in Mali and Senegal in West Africa.  Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio.  Cora's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (Southern Mali), which Cora believes has the potential for a standalone mine development.  Sanankoro has a positive Scoping Study published on it showing an 107% IRR and US$41.5m NPV at a US$1,500 gold price and applying a discount rate of 8%.  Cora's highly experienced management team has a proven track record in making multi-million-ounce gold discoveries, which have been developed into operating mines.



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Quick facts: Cora Gold Limited

Price: 8.5

Market: AIM
Market Cap: £17.46 m

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