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Mining Licence Application Lodged at Bougouni
Mining Licence Application Lodged at Bougouni.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9309A Kodal Minerals PLC 27 January 2020 \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 \n27 January 2020\nKodal Minerals plc \n(\"Kodal Minerals\" or the \"Company\")\n \nMining Licence Application Lodged\nFeasibility Study demonstrates robust economics for development of the Bougouni Lithium Project \n \nKodal Minerals, the mineral exploration and development company focused on the development of its Bougouni Lithium Project in southern Mali (\"Bougouni\" or the \"Project\"), is pleased to announce that a mining licence application has been submitted to the Mali Government for the Project (the \"Application\"). As part of the Application, the Company has completed a feasibility study for the proposed mining operation (the \"Feasibility Study\" or the \"Study\"), and the details of the findings of the Study are presented herein.\n \nTo view the announcement with the illustrative maps and diagrams, please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/9309A_1-2020-1-26.pdf\n \nHighlights:\n· The Application covers the proposed open-pit mining and processing operation at Bougouni lodged with the Mines Department in Mali - Direction Nationale de la Géologie et des Mines (\"DNGM\").\n· The Feasibility Study presents a very robust mining operation:\no Minimum 8.5-year mine life; \no Producing on average 220,000 tonnes of 6% spodumene concentrate per annum, at life of mine (\"LOM\") lithium average metallurgical recovery of 71%, based on laboratory metallurgical recoveries of 75%; \no Total LOM will produce 1.94Mt of concentrate; and\no LOM revenue exceeding USD$1.4bn, with an initial concentrate sale price of $680/t based on operations commencing H2 2021, thereafter, increasing 2% year-on-year. \n· Proposed 2Mtpa processing plant utilising a conventional flotation circuit to maximise spodumene recovery:\no Estimated C1 cash costs of USD$431 per tonne concentrate (USD$466 including royalties and sustaining capital).\n· Capital requirement for development estimat...