Business
Bougouni Project Update & First Revenues Received
Kodal Minerals has received its first revenue, a $21.3 million payment from Hainan for the maiden export of spodumene concentrate from the Bougouni Lithium Project, representing 95% of the cargo value. The Dense Media Separation processing plant has restarted after maintenance and is expected to operate at nameplate capacity soon, with mining continuing at the Ngoualana open pit and a ROM stockpile of approximately 65,000 tonnes. A second shipment of 20,000-30,000 tonnes is planned for Q1 2026. Assay results from the Boumou prospect confirm high-grade mineralisation, with further drilling planned for early 2026. Disclaimer*
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n\nThe 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 \nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \nKodal Minerals plc\n(\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \n17 December 2025\n \n Bougouni Project Update &\nFirst Revenues Received\n \nKodal Minerals (AIM: KOD), the West African lithium producer, mineral exploration and development company, is pleased to provide an update on the mining operations at the Bougouni Lithium Project (\"Bougouni\" or the \"Project\") in Southern Mali, which is owned and operated by Kodal Mining UK Limited (\"KMUK\") in which Kodal has a 49% shareholding.\n \nThe Company is also pleased to provide confirmation of receipt of the initial payment for the maiden export of spodumene concentrate from Hainan Mining Co. Limited (\"Hainan\"), the Project's off-take partner and the final assay results for the drilling programme at the Boumou prospect.\n \nHighlights:\n· The Dense Media Separation (\"DMS\") processing restarted this week after a planned maintenance and engineering works for the resolution of bottlenecking issues and adjustments to optimise plant performance as well as the build-up of the run-of-mine (\"ROM\") stockpile, with management expecting the DMS processing plant to be operating at nameplate capacity in the near future.\n· Payment from the Project's offtake partner, Hainan, for the sum of $21.3 million has been received by KMUK, marking 95% of the cargo value of the spodumene concentrate exported from the port of San Pedro on 28 November 2025, in accordance with the offtake agreement.\n· Mining continues at the Ngoualana open pit mine with pegmatite ore currently being blasted and mined from the middle level of the pit.\n· Pegmatite ore is being hauled to the ROM stockpile with current stockpile levels of approximately 65,000 tonnes. The current mining plan provides for continued building of the stockpile with the aim of ensuring uninterrupted supply to the DMS processing plant throughout 2026.\n· De-watering of the pit is continuing, and it is expected that access to the base of ...