- Steady progress on the Bougouni lithium project in southern Mali
- Run by experienced mining industry and mining finance professionals
- Gold assets add additional upside
What does Kodal Minerals do?
Kodal Minerals PLC (LON:KOD) is a junior explorer with a focus on West Africa, and in particular lithium and gold. The company is run by experienced exploration geologist Bernard Aylward, helped by mining engineer Luke Bryan, who has 20 years’ experience in the business, and Robert Wooldridge, who is a partner in UK broking house SP Angel.
What Kodal Minerals owns
The company’s primary focus is on the Bougouni lithium project in Southern Mali. Recent resources drilling has returned attractive lithium grades, and will be used in the compilation of a new JORC resource, due imminently.
Kodal also owns the 109 square kilometre Diendio project, which is comprised of three contiguous licence areas located approximately 280 kilometres south of Bamako, the capital of Mali. Access to the project is by sealed road from Bamako, then good access throughout the licence area by local road and track.
Kodal also holds a highly prospective suite of gold assets in Mali and Cote D’Ivoire.
Active joint ventures in Cote d’Ivoire are ensuring that funds are spent advancing exploration the company’s projects without detracting from the focus on Bougouni.
- JORC resource imminent for Bougouni
- Well-funded, but all junior explorers return to the market for more cash in due course
- Metallurgical testwork will provide further detail on viability of Bougouni
- Design engineering is ongoing for the proposed processing plant
Chief executive Bernard Aylward upbeat about near-term prospects
"The drilling programme completed last year at the Sogola-Baoule and Boumou prospects has confirmed the continuity and robustness of the lithium mineralisation at Bougouni,” said Bernard Aylward in January 2019.
“This gives us great confidence as we continue to fast track our development plans for the project. The opportunity highlighted by these continuing good results is that we are now able to assess our proposed operation parameters and factor in a larger mining operation with an initial 1.2 mln tonne per year processing plant, expanding to 1.5 mln tonnes as the operation moves into steady production phase.”