Business
Update on Project Development Preparations
Update on Project Development Preparations.
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 Market Abuse Regulations (EU) No. 596/2014 (\"MAR\")\n \nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n22 September 2023\nKodal Minerals plc\n(\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \nBougouni Lithium Project Update on Project Development Preparations\n \nKodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, is pleased to provide an update on project development activities and general progress at its Bougouni Lithium Project in southern Mali (\"Bougouni\" or the \"Project\").\n \nThe Company has continued to make good progress with its detailed engineering works for the DMS (dense media separation) plant utilising in part the conditional prepayment received from Hainan Mining Co. Limited (\"Hainan\") of US$3,500,000 (see announcement of 3 August 2023), and confirms that the phased development (change) notification has now been formally submitted to the Direction Nationale de la Geologies et des Mines (\"DNGM\") in accordance with the 2019 Mali Mining Code (\"Mali Mining Code\") (the \"Notification\").\n \nHighlights:\n· Kodal executives were in Mali to welcome Hainan's key representatives who will be working closely with the Company during the finalisation of the design, construction, commissioning and future operations.\n· Kodal and Hainan representatives met with the Director General of the DNGM to discuss the progress of the Bougouni Lithium Project and commencement of site development.\n· Following completion of the registration of the Company's new subsidiary mining company in Mali, Le Mines de Lithium de Bougouni SA (\"LMLB\"), the Company has now submitted the requisite formal Notification which outlines the change to a phased development approach. The Notification details the \"Phase 1\" DMS development plan at Ngoualana, followed by the future flotation operation (\"Phase 2\"). \n· The DMS plant design is close to completion, with procurement specifications finalised in readiness for the drawdown of the US$100 million funding package from Hainan, which remains subject to final regulatory ...