Kodal Minerals puts financing agreement in place
Kodal has several years of experience operating in Mali
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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Kodal has several years of experience operating in Mali
The next meeting is a session convened by the Ministry of Mines and representatives from various ministries
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A glance at some of the day's highlights from the Proactive Investors newswire
"The two companies are operating in the same region of Mali and intend to develop similar lithium mining operations. It makes strong sense for the companies to work together where possible to improve the operations and financial return on t
The robust IRR looks especially attractive in the context of current lithium prices
The mineral exploration firm also said it has completed underlying engineering and appraisal work to support its application
All licences of the Bougouni Lithium project are now registered in Kodal Minerals' subsidiary company names covering a total area of around 350km2.
The company is now working on mining assessment and technical reports for a full licence application by the end of 2019.
The new licences cover lithium mineralisation and exploration prospects and will secure the project area for another seven years
Kodal was left with a funding shortfall after SVS fell into administration in August and defaulted on its commitment to pay for 250mln shares
The AIM-listed mineral explorer said its application was progressing as planned, with approval expected “within the legislated timeframe”
Work on logistics, metallurgy and open-pit optimisation continues to move the Mali lithium mine development forwards.
Bougouni contains 21mln tonnes of ore grading 1.11% lithium oxide
Bernard Aylward, chief executive of the mineral explorer, said the submission was a “significant milestone” and the “first critical step” in obtaining a mining licence
Using a Dense Media Separation (DMS) plant, ore from Ngoualana produced a primary concentrate with grades of 6.0% Li2O at recoveries of up to 70%.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
Luke Bryan joined Kodal Minerals in 2013 as chief executive, overseeing the company’s initial public offering later that year
Archive
A glance at some of the day's highlights from the Proactive Investors newswire