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Company
LON:KOD
Kodal Minerals PLC is a mining development and exploration company active in West Africa. The company's flagship project is the advanced Bougouni Lithium Project in southern Mali. Kodal also has a range of gold exploration projects in Mali and Cote d'Ivoire.
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Some of the week's mining-related stories in snapshot
The company has raised £3.5mln that it will use to explore targets that it said have been identified for “having potential to host large scale gold mineralisation”
Proceeds will help fund the continued development of its flagship Bougouni lithium project in Mali
The funding will be used for exploration work and to define resources at the company's gold projects in Mali and the Ivory Coast
Archive
Alba Mineral Resources (LON:ALBA) – Licence extension Altus Strategies* (LON:ALS) – New gold discovery at Diba NW Chaarat Gold* (LON:CGH) - BUY – 62p (from 65p) – Earnings Update Kodal Minerals* (LON:KOD) – Geochemical sampling at Dabakala
“The consistency of the gold anomalism, the geological setting and the presence of artisanal workings highlight the potential of this project," said chief executive Bernard Aylward.
Kodal has extensive experience in West Africa, and is also developing the Bougouni lithium project
The company has undertaken further field reconnaissance at Fatou and planning of the maiden drilling programme is to commence as soon as possible once the funding agreement is finalised
The project forms a contiguous landholding exceeding 300 square kilometres and has been acquired through agreements with local vendors.
Kodal boasts a significant lithium resouce at Bougouni
The mineral explorer also said that progress on its mining licence application for the lithium project has recommenced with all documents updated for the new ministry and interim constitution of the Mali Transition Government
The new government comes at a time when the company is advancing the Bougouni lithium project in the country towards its next stage of development
Bringing in a major Chinese partner has had a salutary effect on the company's share price
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A glance at some of the day's highlights from the Proactive Investors newswire
Sinohydro has a strong track record of developing and working on engineering projects in Mali and elsewhere in Africa
Kodal has significant lithium exploration acreage in Mali
“This year has again marked major developments for Kodal and our focus on the flagship Bougouni Lithium project"
Kodal also noted that its gold assets in Mali and Cote d'Ivoire have attracted interest from investors and other exploration and development companies
Kodal's bulk sample was sent to a major lithium producing plant in China
The extensions secure the projects for another three years, to April 2023