Starvest announces Cora Gold as new investee company

Ikaba Koyi WebFG News | 16 Oct, 2017 16:36 - Updated: 16:36 | | |

London Stock Exchange AIM LSE shares
  • 3.75
  • -6.25%-0.25
  • Max: 4.00
  • Min: 3.55
  • Volume: 634,837
  • MM 200 : n/a
17:18 17/11/17
  • 10,618.83
  • 0.27%28.99
  • Max: 10,667.53
  • Min: 10,564.62
  • Volume: 0
  • MM 200 : n/a
17:18 17/11/17
  • 1,023.43
  • 0.18%1.82
  • Max: 1,023.88
  • Min: 1,021.32
  • Volume: 0
  • MM 200 : n/a
17:25 17/11/17

AIM-quoted investment company Starvest said it had participated in the recent IPO of Cora Gold, placing both companies in the best position to benefit from increasing interest in precious metals amid an upturn in the gold sector.

Cora, the gold exploration company focused on advanced projects in the Yanfolila and Kenieba areas of Mali and Senegal in West Africa, was admitted to trading on the London Stock Exchange AIM on 9 October 2017, raising £3.45m through a placing and subscription of 20,928,240 new ordinary shares at 16.5p each.

That placing resulted in a market capitalisation of approximately £9m on admission.

Callum Baxter, chairman and CEO of Starvest, spoke of Cora's potential to become a multi-million ounce gold deposit.

"Cora Gold will be very active drilling several projects over the coming months in particular their Sanankoro gold discovery which has the potential to be a multi-million ounce gold deposit and we look forward to following their progress", said Baxter.

More news

17 Nov Europe close: Stocks slip going into the weekend

Stocks reversed early gains as investors opted to play it safe going into the weekend and the euro edged a tad higher on the back of the political gyrations on Capitol Hill.

17 Nov Europe open: Stocks start slightly higher, analysts wary

Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce.

17 Nov London close: Stocks finish week on down note

London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.

17 Nov Kingfisher gets RBC upgrade as 'reasons to be cheerful' in France

DIY retailer Kingfisher has more "reasons to be cheerful" thanks to an improving French outlook, analysts at RBC Capital Markets said on Friday, while clothes seller Supergroup remains "compelling" but its shares have gained a lot in recent weeks.

17 Nov NAV on the rise as Alpha Real Estate Trust turns focus to build-to-rent market

Real estate investment group Alpha Real Trust saw its net asset value (NAV) rise in its first half of trading as it moved to make further investments in build-to-rent projects.

17 Nov Pacific Industrial & Logistics completes sale of Bedford asset

Industrial and logistics-focussed real estate investment trust Pacific Industrial & Logistics has completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of £5.8m, it announced on Friday.

17 Nov DP Poland cuts ribbon on 50th Polish Domino's store

DP Poland, which holds the exclusive master franchise for the Domino’s Pizza brand in Poland, celebrated the opening of its 50th location in the country on Friday.

17 Nov Mercia Technologies makes new investment into Aston EyeTech

National investment group Mercia Technologies has made a new direct investment into Aston EyeTech - a spinout from Aston University, Birmingham - which has developed a range of proprietary hardware and software products in ocular care, it announced on Friday.

17 Nov SimiGon receives final approval for $2m Israeli Air Force order

Modelling, simulation and training solutions provider SimiGon has now received final regulatory approval for a $2m purchase order received from the Israeli Air Force, initially announced on 20 June 2016, it confirmed on Friday.

17 Nov Agriterra losses grow after 'subdued' interest in corn products

Agricultural investment group Agriterra saw losses widen in the first half of its trading year as subdued demand for its maize flour products slashed revenues by more than a third.