Business
Bougouni Project Update & Appointment of Broker
Bougouni Project Update & Appointment of Broker.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\")\n \n \n \n \n \n \n Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n \n \n \n \n 16 December 2022\n \n \n \n Kodal Minerals plc\n \n \n \n (\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \n \n \n \n \n \n \n \n Bougouni Project and DMS Development Update\n \n \n \n \n Appointment of Joint Broker\n \n \n \n \n \n \n Kodal Minerals\n (\"Kodal\" or the \"Company\")\n , the mineral exploration and development company focused on lithium and gold assets in West Africa, is pleased to provide an update on project development progress at its Bougouni Lithium Project in southern Mali\n (\"Bougouni\" or the \"Project\").\n The Company is committed to accelerating the development of the Project through the lower capital cost dense media separation (\"DMS\") processing plant option, which will also allow the Company to take advantage of a near-term buoyant lithium market. In addition, the Company is pleased to announce the appointment of Canaccord Genuity Limited (\"Canaccord\") as joint broker to the Company with immediate effect.\n \n \n \n \n \n \n Highlights:\n \n \n \n ·\n The Company is progressing with plant engineering and environmental studies required for the DMS plant option (see announcement of 29 September 2022).\n \n \n ·\n The Company is finalising engineering and environmental work to support formal approval for the DMS option from the Mali Government, for which application is currently expected to be submitted in early 2023 (the \"Change Notification\").\n \n \n ·\n Activities and status of work is:\n \n \n o\n DMS plant concept designs - complete.\n \n \n o\n Tailings storage layout and concept design - complete\n .\n \n \n o\n Environmental studies required for the Change Notification - progressing.\n \n \n ·\n Exploration Manager appointed to lead all exploration and pre-development activities from site, with a focus on expanding DMS ore sources within the existing mining licence permit area.\n \n \n ·\n Canaccord appointed as joint broker. \n \n \n \n \n \n \n \n \n \n \n \n \n \n Bernard Aylward, CEO of Kodal Minerals, remarked:\n \n \n \"Our e...