Kodal Minerals is developing a project in Southern Mali.
It acquired the hard rock the Bougouni project in 2016. It has worked quickly to advance the exploration and development of the project through drilling widely around the site.
High-quality battery grade lithium carbonate has been produced.
Bernard Aylward, CEO of Kodal Minerals, said:
We are delighted to see that the Ngoualana prospect continues to return strongly mineralised intersections and is defining continuity of shallow, high grade lithium mineralisation that is important for the economic development of the Project.
The next step for Kodal Minerals is a pilot extraction.
Aylward told Verdict:
This will consist of 5000 tonnes of rock and will be shipped to China for processing.
We expect this to be completed in three months.
Kodal Minerals will then seek a feasibility study with the aim of moving to full-scale production in the next few years.
Is there anyone here who was around in the early days of exploration in Norway? I bought in at around 1.2p and watched my investment soar to a heady 2.6p. As a novice investor I thought "this is OK" and then watched as the value fell to the 10ths. of pennies.
I consigned my holding to the boneyard.
Recently I decided to revue, now with the focus on Li and on a different continent and with Chinese investment it looks as tho there might be a way back into profit. "Catching falling knives " comes to mind, or averaging down?
This rambling is mainly for my own benefit but does anyone have any comments?
Someone showing some confidence in the company - Robert Wooldridge (Chairman of the Company) has today purchased 26,520,195 ordinary shares of 0.03125 pence each in the Company ("Ordinary Shares") at a price of 0.2825. The market seems to like it judging by the price increase. JJII
Thought I'd pop in over here from ... over there. You're cutting a solitary figure here highbloodpressure. As you say, the stock is totally de-risked - £3.8m in the Bank and another £1m coming in soon. Today's RNS is excellent - Ngoulana is massive. We'll be pushed to production asap by Suay Chin, our partner, who has a large Chinese outfit (Mangrui Chemicals of Shandong) bankrolling them. They sought to buy out the smaller Lithium asset of our neighbour, Birimian Ltd, for AU$107m earlier this year. We'll be getting the scoping study quite soon now and, with that, the fine detail of the Off-take Agreement. I sold out of BCN to add to my shareholding here ... we'll be in production a lot sooner than BCN.
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