Business
Issue of Equity
Issue of Equity.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9465G Kodal Minerals PLC 29 July 2019 \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\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n29 July 2019\n \nKodal Minerals plc ('Kodal Minerals' or the 'Company')\n \nCompletion of Fundraise as Development Planning and Exploration Continue at Bougouni Lithium Project\n \nKodal Minerals, the mineral exploration and development company focused on the Bougouni Lithium Project in Southern Mali ('Bougouni'), is pleased to announce that it has raised £575,000 (before expenses) via a subscription and placing of 718,750,000 new ordinary shares of 0.03125p each ('Ordinary Shares') in the capital of the Company ('New Shares') at a placing price of 0.08 pence per New Share (the 'Placing Price') (together, the 'Placing'). The net proceeds of the Placing will ensure Kodal Minerals maintains its momentum in completing the formal reporting for the Environmental and Mining Licence applications as well as continuing the exploration and expansion of the Bougouni Lithium Project. \n \nThe Company maintains an active Exploration and Development programme with near term updates expected to include:\n \n· Completion of the Environmental and Social Impact Assessment ('ESIA'), anticipated to be lodged by mid-August 2019\n· Despatch of Bulk Sample (900t pegmatite rock) to China in early August 2019 for processing test work \n· Finalisation of metallurgical test work and completion of project flowsheet by the end of September 2019\n· Completion of open pit mine design and plant infrastructure engineering by the end of September 2019\n· Finalisation of Mining Licence application on track for lodging in the second half of 2019\n· Receipt of drill assays from the reconnaissance exploration drilling completed in June 2019\n· Exploration and expansion drilling to re-commence in October 2019 following the rainy season with a focus on expanding the Boumou...