Shareholder Restructuring - Eagle Eye Transfer

Cora Gold Limited

19 October 2026

 

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

19 October 2026

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

Shareholder Restructuring

Transfer of Stream and Shareholding

Cora Gold Limited, the West African focused gold company, announces that its largest shareholder, Eagle Eye Asset Holdings Pte. Ltd. (‘Eagle Eye’), has indicated to the Board of Cora that it intends to restructure its affairs with the Company such that:

●        Eagle Eye’s current shareholding of 228,452,256 ordinary shares of no par value in the capital of Cora, representing 29.85% of the Company’s issued share capital (see announcement dated 09 February 2026), is to be transferred to Eagle Eye’s subsidiary, A2MP Investments FZCO (‘A2MP’); and

●         Eagle Eye will assign all of its rights and obligations under a binding term sheet for a gold stream transaction with Cora (see announcement dated 17 April 2026) to A2MP (together the ‘Restructuring’).

Restructuring

Eagle Eye has notified the Company that the Restructuring will enable the consolidation of its interests in Cora into A2MP, a platform established to hold all of Eagle Eye’s African mining and minerals processing interests.

Eagle Eye is currently a 97.30% shareholder of A2MP with 2.70% being held by FEDA Mining Investments Limited (‘FEDA’). FEDA is the impact investment subsidiary of Afreximbank and invests for commercial return and development impact in the African region across a range of sectors, including mining and mineral processing. Eagle Eye has advised the Company that FEDA has converted a convertible loan note into equity in A2MP for which the share issue has not yet been processed. Once this share issue has been completed FEDA will hold 23.99% of the issued share capital of A2MP. Eagle Eye will remain the majority shareholder of A2MP and A2MP will remain a subsidiary of Eagle Eye.

Cora understands that there is no change of Eagle Eye’s plan, strategy and intentions regarding the shareholding or stream arrangements with the Company.

Upon completion of the Restructuring (‘Completion’) the relationship agreement dated 24 March 2026 between the Company and Eagle Eye (see announcement dated 09 February 2026) will be replaced by a new relationship agreement between Cora and A2MP to regulate the relationship between the Company and A2MP on an arm's length and normal commercial basis (the ‘Relationship Agreement’). Pursuant to the Relationship Agreement, A2MP will be entitled to appoint one non-executive director to the board of directors of Cora. In the event that A2MP's shareholding falls below 10% the Relationship Agreement will terminate. Eagle Eye and A2MP have agreed that post Completion Eagle Eye’s representative Aryann Gupta will remain a Non-Executive Director of Cora, with his appointment being treated as an appointment by A2MP.

Completion is expected to occur by 30 June 2027 and further announcements regarding this process, including when the transfer of shares from Eagle Eye to A2MP has taken place, will be made as required.

Related Party Transaction

The Restructuring constitutes a related party transaction pursuant to Rule 13 of the AIM Rules. Having consulted with the Company's Nominated Adviser, Cavendish Capital Markets Limited, the Directors of the Company (with the exception of Aryann Gupta, Non-executive Director of the Company, who is involved in the Restructuring as the representative of a related party) consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

**ENDS**

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

Bert Monro Craig Banfield	Cora Gold Limited	[e-mail]
Derrick Lee Pearl Kellie	Cavendish Capital Markets Limited (Nomad and Broker)	[phone]
Matt Hasson Andrew Chubb	Hannam & Partners (Broker)	[phone]
Susie Geliher Charlotte Page	St Brides Partners (Financial PR)	[e-mail]

Notes

Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, Cora's primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt in south Mali into an open pit oxide mine.

Cora has a Probable Reserve of 531 koz at 1.13 g/t Au (US$2,200/oz Au pit shell design). The 2025 Definitive Feasibility Study showed that the Project has strong economic fundamentals, including 98% IRR post tax, US$365 million NPV8 post tax and all-in sustaining costs of US$1,623/oz based on a gold price of US$3,500/oz.

In April 2026, the Company secured a binding US$120 million gold stream which, together with existing equity, fully funds the development of Sanankoro through to production. The agreement also provides flexibility and was amended in August 2026 to allow up to 50% of the stream to be replaced with traditional senior debt by the later of 30 October 2027 and 6 months after the date on which the mining rights permit is granted by the Government of Mali, enabling optimisation of the financing structure. With funding in place, the Company is advancing the finalisation of the permitting process with the Government of Mali to enable a swift transition into mine construction.

The Company continues to pursue additional value-enhancing opportunities across its broader portfolio, including the identification of large-scale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

 

END