Business
Final Results & Notice of AGM
Final Results & Notice of AGM.
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 UK Market Abuse Regulations\n \nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \nKodal Minerals plc\n(\"Kodal\" or the \"Company\" and together with its subsidiaries, the \"Group\")\n \nFinal Results & Notice of Annual General Meeting\n \nKodal 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 2023.\n \nThe Company's Annual Report and Accounts will be made available on the Company's website www.kodalminerals.com shortly. The Company's annual general meeting (\"AGM\") will be held at 11:00am on 29 September 2023 at Fieldfisher LLP, 9th Floor, Riverbank House, 2 Swan Lane, London EC4R 3TT.\n \nOperational Highlights\n \nBougouni Lithium Project, Mali (\"Bougouni\" or the Project\")\n· US$117.75 million funding package agreed with Hainan Mining Co. Limited (\"Hainan\") a subsidiary of Fosun International Limited (\"Fosun\") and its industrial platform for mining and resources:\no US$65 million reserved to fully fund the cost of the Dense Media Separation (DMS) Project targeting delivery of first production within 12 months of receipt of funds.\no Additional funds will be deployed to:\n§ increase the Bougouni Lithium Project's JORC compliant resource inventory currently at 21Mt @ 1.11% Li2O and extend the mine life; and\n§ Support the development of the flotation plant expansion project which has the potential to increase spodumene production from ~125,000 to over 300,000tpa and deliver life of mine (8.5 years) revenue exceeding US $2.15bn.\n· DMS Project development scenario presented:\no Low capital development cost estimated at US$65 million;\no Payback of two months from commencement of operations;\no NPV7% of approximately US$420 million post tax;\no Over 130,000tpa production of spodumene concentrate with an initial 4-year mine life;\no DMS operation revenue exceeds US$1.05bn in less than four years based on broker consensus pricing averaging US$2,080 per tonnes.\n· Bougouni ...