leadf
logo-loader
viewMali Lithium Ltd

Mali Lithium operations unaffected by political instability in Mali

The company holds a large amount of highly prospective lithium and gold tenure in the West African country.

Mali Lithium Ltd - Mali Lithium operations unaffected by political instability in Mali
Mali is Africa’s fourth largest producer of gold

Mali Lithium Limited (ASX:MLL) (FRA:N9F) is continuing normal operations with the ongoing political instability in the West African country having no adverse impact.

It appears to be business as usual for the mining sector in Mali after a military coup ousted the President last week with no reported impact on operations or security at operating mines.

Mali Lithium’s operations, which are some distance from Bamako, the Malian capital and the centre of the political instability, have not experienced any adverse impact to date.

The company is monitoring the situation closely and is in consultation with local stakeholders.

Situation in Mali

Mali has suffered political instability in the last month leading to the resignation of the President and dissolution of the government with the military seeking to resolve the political crisis.

The latest difficulty relates to allegations of corruption around the outgoing President and his regime, as well as issues of pay and conditions amongst the soldiers who have seized power.

Mali Lithium said it was encouraged by the ongoing national dialogue to focus on the transition to a new civilian government, supported by the majority of Malians.

Goulamina Lithium Project

Recently, the company upgraded the mineral resource estimate at its world-class 100%-owned Goulamina Lithium Project in Mali with a lift in size and quality.

The Goulamina Definitive Feasibility Study is in the final stage of completion and the company hopes to release the results in coming weeks.

Gold exposure

Mali Lithium also has significant gold assets in Mali and is actively assessing opportunities to increase exposure to gold.

The company has adequate liquidity to pursue opportunities.

It has received an R&D refund of $494,721 from the Australian Tax Office, and has also received various stimulus payments from both State and Federal governments and expects further payments.

Quick facts: Mali Lithium Ltd

Price: - -

ASX:MLL
Market: ASX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Mali Lithium Ltd named herein, including the promotion by the Company of Mali Lithium Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Mali Lithium chairman delighted with DFS on its Goulamina Lithium project

Mali Lithium Ltd's (ASX:MLL) Alistair Cowden caught up with Proactive's Andrew Scott following the release of the definitive feasibility study (DFS) for the Goulamina Lithium project in Mali. The DFS outlines that Goulamina would deliver strong returns with a pre-tax net present value (NPV) of...

4 days, 11 hours ago

2 min read