Cora Gold Ltd (CORA), the West Africa-focused gold developer, has announced a series of advances at its Sanankoro gold project in southern Mali, including the launch of the front-end engineering design process.
The company describes the FEED process as a key element in readying Sanankoro for full construction and an important milestone in the delivery timeline set out in its definitive feasibility study.
Completing FEED will allow Cora Gold to make decisions on long lead items, with a view to potentially compressing the project’s delivery timeline once the mining permit is received.
Chief Executive Bert Monro said: “We are building strong momentum at Sanankoro across multiple fronts.”
Alongside FEED and permitting activities, the company plans to launch selected complementary workstreams in parallel, according to Tuesday’s announcement.
Separately, Conduit Holdings Ltd, parent of Bermuda-based reinsurer Conduit Re, provided further details of its share buyback programme of up to USD50 million, which was originally announced on May 13.
The buyback will be executed and managed by Panmure Liberum Ltd, funded from existing cash resources, and will run until August 13.
Arrow Exploration Corp, the Colombia-focused oil producer, reported that its Icaco 1 exploration well on the Tapir block in the Llanos Basin reached target depth on May 9, on time and under budget.
The well was drilled to a total measured depth of 7,800 feet and encountered multiple hydrocarbon-bearing intervals, with production beginning on May 15 at a restricted rate of around 628 barrels of oil per day.
Chief Executive Marshall Abbott said: “Management believes the Icaco 1 well result is a material discovery in the southeastern area of the Tapir Block. Icaco 2, a significant step out to the north, will help delineate the pool and determine initial volumes and areal extent of each individual oil producing zone.”
Abbott added: “In the current oil price environment, the Company continues to build cash resources. This provides a stable platform with optionality to pursue both organic growth and accretive acquisitions.”
Sintana Energy Inc, the oil and gas company targeting Angola, Namibia and Uruguay, received conditional TSX-V approval for its placing and subscription, with completion remaining subject to admission expected around Wednesday.
Sintana last week announced plans to raise USD11.5 million via private placement and subscription at a price of CAD0.41 per share, equivalent to around 22.5 pence per share.
Mendell Helium PLC, based in Perth, Scotland, reported that completion operations are underway at the Rost 2-26 well in Fort Dodge, Kansas, with a rig on-site to perforate targeted helium production zones.
Chief Executive Nick Tulloch said: “This month marks a significant increase in activity by Mendell Helium. For the first time in our history, we have three rigs operating at three locations.”
Tulloch added: “The purpose of the recently completed fundraising was to give us the ability to accelerate our growth and we have wasted no time in putting this into effect. Alongside these operations, our subsurface team is examining the locations for our next phase of production wells and we expect the new faster pace of our operations to continue during 2026.”
Kefi Gold and Copper PLC announced the appointment of Stifel Nicolaus Europe Ltd as financial adviser and joint broker, with Stifel also set to act as sponsor for a planned move to the Main Market of the London Stock Exchange in 2027.
At its Tulu Kapi project in Ethiopia, Kefi said all onsite and offsite workstreams are tracking on or ahead of schedule, targeting commissioning from late 2027 and full production by mid-2028.