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(Sharecast News) - Cora Gold said in an update on Wednesday that metallurgical test work at its Sanankoro Gold Project in southern Mali had identified a lower-cost processing route that could improve project economics by reducing long-term power consumption.
The AIM-traded firm said the tests supported the integration of a scrubbing circuit ahead of the ball mill, potentially reducing the required mill size and lowering operating costs over the life of the mine.
It said the results would inform an update to the project's 2022 definitive feasibility study, which remained on track for completion in the third quarter.
Further optimisation opportunities could be incorporated during the subsequent front-end engineering and design stage.
"Our focus at Sanankoro is on expediting the Project to mine construction phase," said chief executive officer Bert Monro.
"Multiple work programmes are underway in support of this, and we are pleased this optimisation test work has identified another potential positive for the project."
Monro said the definitive feasibility study, based on a $1,750 gold price, showed a +50% internal rate of return, meaning further operational improvements coupled with a significantly higher gold price was an "exciting" prospect.
"This two-stage processing plan will feed into the updated DFS currently being completed, which we look forward to sharing the results of in the third quarter of 2025."
At 1300 BST, shares in Cora Gold were up 1.21% at 8.35p.
Reporting by Josh White for Sharecast.com.
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