Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward talked with Proactive about the company's latest update on its Bougouni lithium project in Mali, where construction is nearly complete and preparations for export are underway.
Aylward shared that the optimization and ramp-up phase of the processing plant has been going well, with over 11,000 tonnes of lithium concentrate already stockpiled and ready for export. "We've been making some adjustments as we go through this process and some improvements to the feed into the crusher... achieving a good product," he said.
He noted that the company expects to reach nameplate capacity within the next couple of months, pending a final review and approval by the construction team. Kodal is also progressing steadily on the mining front, with a good run-of-mine (ROM) stockpile in place.
The interview highlighted that the mining license transfer process is still ongoing, though Kodal has completed all compliance steps and is now awaiting sign-off from the Committee of Ministers and the President of Mali. Once this is finalized, the company will move forward with export permits and begin shipping product.
Aylward emphasized the importance of reaching these next key milestones, including the commencement of exports and the official transfer of the license.
Proactive: Bernard, very good to speak with you. You're out with an update on your Bougouni lithium project in Mali and making good progress with construction almost complete?
Bernard Aylward: Yeah, exactly, Stephen. Look, again, we are very happy to provide that update to shareholders. As we've been very clear, the optimization and ramp-up of the plant has been going really well. We've been making some adjustments as we go through this process and some improvements to the feed into the crusher, balancing the DMS correctly and overall achieving a good product.
And as we said in our announcement, we've got over 11,000 tonnes of concentrate there now, ready to export, which is a great result for us. And just working through these improvements means that when we come towards the commercial side or actually more nameplate capacity, we expect to be going full steam ahead.
Proactive: When would you expect to get that nameplate capacity, Bernard?
Bernard Aylward: We’re thinking over the next month or two really, Stephen. We just want to give ourselves that opportunity to keep on improving. Having a bit of a third-party review, making sure that the construction team are finally happy that everything's working well. And then we'll be ready to go. So it's close. We're happy with everything we're seeing.
And as we said, the mining side of things is proceeding well, as we expect, as we've seen over the last few months. So we've got a good stockpile on the ROM. We've got a good stockpile of concentrate ready to export, and things are looking good for us.
Proactive: How are you progressing with the mining license, Bernard?
Bernard Aylward: Look, that's still taking a little longer than we would have liked. You know, we saw in the MOU with the government back on the 1st of November last year. We've been working closely with them. We've completed all of our compliance in terms of the state of the company statutes for the mining company. And we are told that everything's been signed off by the relevant minister — the Minister of Mines and the Minister of Finance.
So we're at that final hurdle now, pending the Committee of Ministers to sign off and the President to sign off, and we'll have a license transferred. We are told that’s imminent, but let's wait and see.
Proactive: So that is obviously the next milestone you're looking at for, but what other milestones should investors be watching for, Bernard?
Bernard Aylward: Well really, Stephen, after that, it's starting to export our product. We've been in discussions with the government to make sure they understand our sales arrangements, our export requirements. We obviously have our contracts signed with the transport company. So really the next stage is for us to finalize that license transfer, export permits and start exporting.
So really, really getting close and really exciting for us, to see everything developing at Bougouni.
Proactive: Bernard, I hope you'll keep us posted on any further progress. Thank you very much for the update today.