The Directors recognise the importance of sound corporate governance, applied in a way appropriate to the size and nature of the Company and the interests of its shareholders.
- 10 QCA principles applied
- 4+ Board meetings a year
- 3 Board committees
Cora Gold adopted the QCA Corporate Governance Code in 2018 and, in November 2024, adopted the updated QCA Code 2023, applying its ten principles. The Directors consider the QCA Code the most appropriate recognised framework for a company traded on AIM, and keep their governance practices under review as the Company grows.
As a Board the directors have collective responsibility and legal obligation to promote the interests of the Company, and are collectively responsible for defining corporate governance arrangements. Ultimate responsibility for the quality of, and approach to, corporate governance lies with the Board. The Board holds meetings at least four times each complete financial year, and at other times as and when required.
01. Purpose, strategy and business model
Cora’s purpose is to create long-term shareholder value through the exploration and development of gold projects in West Africa, currently focused on the Yanfolila Gold Belt (south Mali). Its strategy is to explore its portfolio, prove resources to a recognised international standard, and establish the economics to support development and eventual mining, led by a team with a track record of multi-million-ounce discoveries.
02. Ethical culture
The Board treats operating with integrity as a source of competitive advantage and has adopted a Code of Conduct, an Anti-Corruption and Anti-Bribery Policy, a Share Dealing Code and a Social Media Policy. These values are reflected in recruitment, training, performance and reward across the Company.
03. Understanding shareholders
Strategy is a standing item at Board meetings, and the Board works with its Nominated Adviser and registrar to understand its shareholder base and the views behind voting decisions. Shareholders are encouraged to make contact directly at info@coragold.com.
04. Wider stakeholders
The Board recognises that long-term success depends on good relations with a broad range of stakeholders, from employees and shareholders to suppliers, contractors, regulators, the government of the Republic of Mali, and local communities. It has adopted a Health and Safety, Community Relations and Environmental Impact Policy covering its social and environmental responsibilities.
05. Risk management and internal controls
The Board receives monthly updates from management across operational, finance, investor-relations and administrative matters, and is responsible for a framework that identifies and manages the significant risks to delivering the strategy. These controls and assurance activities will develop as the Company grows.
06. A well-functioning, balanced board
The Board meets at least four times a year and currently comprises six directors, three of whom are independent non-executive directors (Adam Davidson, Edward Bowie and Russell White). It is supported by three committees and is not dominated by any one individual or group.
07. Governance structures, skills and capabilities
The Board maintains AIM compliance & corporate governance, audit, and remuneration & nominations committees, which it considers appropriate to the Company’s size and complexity. It keeps the balance of skills, experience and diversity under review, and provides for these structures to evolve as the Company develops.
08. Board evaluation
The Board evaluates its own performance, and that of its committees and individual directors, at least annually against clear objectives covering the suitability of experience, meeting attendance and interaction with management, and considers Board refreshment and succession planning.
09. Remuneration policy
The remuneration policy is designed to attract, retain and motivate high-calibre people and to align their interests with shareholders, supporting long-term value creation without paying more than is necessary. The remuneration & nominations committee keeps the policy under review.
10. Communication and dialogue
Ultimate authority rests with the Board, with the Chair responsible for its leadership and effectiveness and the Chief Executive Officer for the day-to-day running of the business and primary shareholder contact. The Company communicates through its website, RNS announcements, investor events and its AGM, where shareholders are encouraged to ask questions.
AIM compliance & corporate governance committee
The Company has the procedures, resources and controls to comply with the AIM Rules and maintain wider governance, liaising proactively with the Nominated Adviser and overseeing share-dealing approvals. Meets at least twice a year.
Chair: Edward Bowie
Adam Davidson
Adam Davidson
Independent Non-Executive Director & Chair
Adam was appointed a director of Cora Gold in 2025 & took up the role of Chair of the Board in March 2026.
Adam has extensive experience in the natural resources sector, most recently as Co-Founder & CEO of AIM-listed Trident Royalties, which was acquired in 2024 by Deterra Royalties, an ASX-200 company. Adam’s experience extends to mining capital markets, having worked for Resource Capital Funds, a leading mining-focused private equity firm, as well as BMO Capital Markets & Orica Mining Services.
A graduate of the Australian Institute of Company Directors, he holds an MBA from the College of William & Mary & completed a post-graduate in Mining Studies from the University of Arizona.
Ed Bowie
Ed Bowie
Independent Non-Executive Director
Ed was appointed a director of Cora Gold in 2019 & acted as Chair of the Board until March 2026.
Ed has over 25 years’ experience within the wider natural resources industry. He started his career with SAMAX Gold in Tanzania before going on to work in equity research, corporate finance roles, & then serving as fund manager for Altus Capital Limited’s two mining funds. More recently he served as Head of Business Development at London-listed Amara Mining plc, managing the process that led to the company’s acquisition, & Head of Business Development at Brazilian gold producer Serabi Gold plc. Ed is currently chief executive officer of Beowulf Mining plc (AIM:BEM; Spotlight:BEO).
Russell White
Russell White
Independent Non-Executive Director
Russell is a metallurgist by training & a highly experienced mining professional with over 40 years’ experience in mineral processing, project delivery & mine operations, predominantly on West African gold projects.
He served as Project Manager & subsequently General Manager at Toro Gold’s Mako Gold Mine in Senegal, where he oversaw the study, construction & commissioning phases of the project. Mako poured first gold in January 2018, delivered ahead of schedule & under budget. Russell subsequently joined Centamin plc as Group Projects Manager, supporting both the Sukari Gold Mine in Egypt & the company’s West African portfolio, & previously held the position of Design, Study & Project Manager at Endeavour Mining, working across assets in Burkina Faso, Côte d’Ivoire, Mali & Ghana. Most recently, he served as Project Director at Rupert Resources, leading the feasibility study to advance the multi-million-ounce Ikkari gold development project in Finland.
Audit committee
Monitors the quality of internal controls and ensures the Group’s financial performance is properly measured and reported, reviewing reports from management and external auditors on the interim and annual accounts. Meets at least twice a year.
Chair: Adam Davidson
Adam Davidson
Adam Davidson
Independent Non-Executive Director & Chair
Adam was appointed a director of Cora Gold in 2025 & took up the role of Chair of the Board in March 2026.
Adam has extensive experience in the natural resources sector, most recently as Co-Founder & CEO of AIM-listed Trident Royalties, which was acquired in 2024 by Deterra Royalties, an ASX-200 company. Adam’s experience extends to mining capital markets, having worked for Resource Capital Funds, a leading mining-focused private equity firm, as well as BMO Capital Markets & Orica Mining Services.
A graduate of the Australian Institute of Company Directors, he holds an MBA from the College of William & Mary & completed a post-graduate in Mining Studies from the University of Arizona.
Ed Bowie
Ed Bowie
Independent Non-Executive Director
Ed was appointed a director of Cora Gold in 2019 & acted as Chair of the Board until March 2026.
Ed has over 25 years’ experience within the wider natural resources industry. He started his career with SAMAX Gold in Tanzania before going on to work in equity research, corporate finance roles, & then serving as fund manager for Altus Capital Limited’s two mining funds. More recently he served as Head of Business Development at London-listed Amara Mining plc, managing the process that led to the company’s acquisition, & Head of Business Development at Brazilian gold producer Serabi Gold plc. Ed is currently chief executive officer of Beowulf Mining plc (AIM:BEM; Spotlight:BEO).
Aryann Gupta
Aryann Gupta
Non-Executive Director
Aryann was appointed a director of Cora Gold in March 2026, being the appointee of the Company’s largest shareholder, Eagle Eye Asset Holdings Pte. Ltd.
Aryann is Head of Mergers and Acquisitions at A2MP Investments FZCO, a pioneering platform dedicated to unlocking Africa’s potential in minerals and metals processing.
Aryann is also a non-executive director of ARISE Integrated Industrial Platforms Limited, which designs, finances, builds and operates integrated and tailor-made industrial zones across Africa, and FG Gold Limited, a private gold developer based in Sierra Leone.
Remuneration & nominations committee
Advises the Board on board composition and director appointments, the performance of executive directors and senior management, and their remuneration and terms, including share awards and equity incentives. Meets at least twice a year.
Chair: Adam Davidson
Adam Davidson
Adam Davidson
Independent Non-Executive Director & Chair
Adam was appointed a director of Cora Gold in 2025 & took up the role of Chair of the Board in March 2026.
Adam has extensive experience in the natural resources sector, most recently as Co-Founder & CEO of AIM-listed Trident Royalties, which was acquired in 2024 by Deterra Royalties, an ASX-200 company. Adam’s experience extends to mining capital markets, having worked for Resource Capital Funds, a leading mining-focused private equity firm, as well as BMO Capital Markets & Orica Mining Services.
A graduate of the Australian Institute of Company Directors, he holds an MBA from the College of William & Mary & completed a post-graduate in Mining Studies from the University of Arizona.
Ed Bowie
Ed Bowie
Independent Non-Executive Director
Ed was appointed a director of Cora Gold in 2019 & acted as Chair of the Board until March 2026.
Ed has over 25 years’ experience within the wider natural resources industry. He started his career with SAMAX Gold in Tanzania before going on to work in equity research, corporate finance roles, & then serving as fund manager for Altus Capital Limited’s two mining funds. More recently he served as Head of Business Development at London-listed Amara Mining plc, managing the process that led to the company’s acquisition, & Head of Business Development at Brazilian gold producer Serabi Gold plc. Ed is currently chief executive officer of Beowulf Mining plc (AIM:BEM; Spotlight:BEO).
Paul Quirk
Paul Quirk
Non-Executive Director
Paul was appointed a director of Cora Gold in 2017.
Paul has over 10 years’ operational experience in the Republic of Congo (Brazzaville), having worked as Country Manager of MPD Congo SA (Zanaga Iron Ore Company) which listed on AIM in 2010. He started his own logistics company in the Congo, Fortis Logistique Limited.
Paul co-founded Lionhead Capital Advisors Proprietary Limited (‘Lionhead’), a principal investment firm that invests private capital into attractive long-term opportunities. Paul is the head of resources strategy & a director at Lionhead. Prior to co-founding Lionhead, Paul founded Fortis Logistique, a leading FMCG logistics business in West Africa.