Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward speaks to Proactive about the company’s progress at its Bougouni Lithium Project in Mali, the start of spodumene concentrate shipments, and upcoming development plans.
Proactive:
Bernard, this official opening marks a major milestone for Kodal and for Mali. What does it mean for the company and your shareholders to see Bougouni in full operations?
Bernard Aylward:
Yeah. Good morning, Stephen. And you're right. It is a major milestone, not just for us, but for the Bougouni region and for Mali. We are the second lithium mine now to be fully operational, currently transporting our spodumene concentrate to the port. We have about 10,000 tonnes here at the moment. First shipment, as we've said, is going to be 30,000 tonnes.
But really, Monday was a great day for us. I was on site with the team and with the community. We were welcomed by the president of Mali, Assimi Goïta, plus ministers — the Minister of Mines, Minister of Finance, and numerous other dignitaries. It was a great reception by the community, and our team is very justifiably proud with what we've done in Mali.
Proactive:
With the first shipments of spodumene concentrate now heading to port, where would you expect first revenues to come in? And what should investors look for next on the production side?
Bernard Aylward:
We're planning at the moment for first shipment late November or early December. As we've stated, when the material is loaded onto the boat, we receive 95% of the value of that cargo. So in early December we should be receiving first revenues. And what that really means for us, obviously, is just that proof of the operation — to be able to fund ourselves going forward and continue the growth of Bougouni.
We've got major plans for the coming year, including further drilling at Boumou and Sogola-Baoulé, and completing that Phase 2 study for the flotation plant. We expect to be able to develop that. Again, that was discussed Monday with the dignitaries, highlighting the future of our Bougouni project is a long one.
We're anticipating over 15 years there, and there's a lot of work ahead of us to get there.
Proactive:
Okay. So lots to look forward to for shareholders. Bernard, I hope you'll continue to keep us updated with your progress.
Bernard Aylward:
Yes, of course we will, Stephen. We're really, really happy to do so. And just want to say thanks to all our shareholders for their support, and I hope they're as happy as we are with the actual opening and progress that we're making at Bougouni. So thanks again for your time.