Business
Final Results
Final Results.
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 UK Market Abuse Regulations\n \n \n \n \n \n \n Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n \n \n \n \n 19 July 2022\n \n \n Kodal Minerals plc\n \n \n (\"Kodal\" or the \"Company\" and together with its subsidiaries, the \"Group\")\n \n \n \n \n \n \n \n Final Results\n \n \n \n \n \n Kodal Minerals, the mineral exploration, and development company focused on lithium and gold assets in West Africa, announces its final results for the year ended 31 March 2022.\n \n \n \n \n \n The Company's Annual Report and Accounts will be made available on the Company's website \n \n \n www.kodalminerals.com\n \n \n sh\n ortly. The Company will confirm in due course when the Annual Report has been posted to shareholders and will provide information about the date and location of the Annual General Meeting.\n \n \n \n \n \n Financial and Corporate Highlights\n \n \n ·\n Group loss before other comprehensive income for the year of £903,000 (2021: £623,000)\n \n \n ·\n \n 370%\n \n increase in exploration and evaluation expenditure of £2,547,000 (2021: £542,000)\n \n \n ·\n \n 63%\n \n increase in the value of the gold projects in Mail and Mali and Cote d'Ivoire to £2,411,000 (2021: £1,476,000)\n \n \n ·\n \n 20%\n \n increase in value of the Bougouni lithium project in Mali to £9,031.000 (2021: £7,488,000)\n \n \n ·\n Cash balance of £1,046,000 as at 31 March 2022 (2021: £2,433,000)\n \n \n ·\n Post period end, the Company successfully raised £3 million (before expenses)\n \n \n ·\n Cash balance of £3,333,000 as at 8 July 2022\n \n \n \n \n \n Operational Highlights\n \n \n \n \n \n Bougouni Lithium Project, Mali\n (\"Bougouni\" or the Project\")\n \n \n ·\n Mining Licence granted - the Project is now fully permitted for development and construction\n \n \n ·\n Achieved 100% ownership of all concessions following the acquisition of minority interests held by the original vendors (prior to formation of the new mining company in which the Mali Government will have an interest of between 10% and 20%)\n \n \n ·\n Initiated a six-month work programme focussed on updating the original Feasibility Study\n \n \n ·\n Ongoing...