Business
Interim Results
Interim Results.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\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\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n \n \n \n \n \n \n \n 23 December 2022\n \n \n \n \n \n \n Kodal Minerals plc ('Kodal', 'Kodal Minerals' or the 'Company')\n \n \n \n \n \n \n \n \n \n Interim Results\n \n \n \n \n \n \n \n \n Kodal Minerals plc, the mineral development and exploration company focused on its Bougouni Lithium Project ('Bougouni', the 'Bougouni Project' or the 'Project') in southern Mali, announces its unaudited interim results for the six months ended 30 September 2022.\n \n \n \n \n \n \n Overview:\n \n \n \n \n Bougouni Lithium Project\n \n \n \n The Company has continued to look for and review opportunities to accelerate the development of the Bougouni Project so that it can take advantage of the near-term high price environment in the lithium market.\n \n \n \n \n \n To this end, the Company is proposing the development of the Project through a faster and lower capital cost dense media separation (\"DMS\") processing plant option, with lithium ore sourced from the Ngoualana deposit which, due to its coarse grain properties, delivers high DMS recoveries.\n \n \n \n \n \n Once financing is secured, the Kodal team will progress to construction and commissioning of the plant. The expected capital cost of the DMS plant of US$65 million compares favourably to the previously published Feasibility Study update in June 2022 which showed a capital cost of over US$154 million for operations based on a flotation plant.\n \n \n \n \n \n The DMS strategy allows the Company to commence production more quickly once sufficient funding is secured, exploiting the near-term advantage of high lithium concentrate prices, to generate positive cash flows which can be used to fund a downstream flotation plant in the future.\n \n \n \n \n \n \n Highlights of the DMS option include:\n \n \n \n ·\n Capital development cost for the DMS plant and all associated infrastructur...