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Pin to quick picksKodal Minerals Share News (KOD)

Share Price Information for Kodal Minerals (KOD)

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Share Price: 0.43
Bid: 0.42
Ask: 0.44
Change: 0.00 (0.00%)
Spread: 0.02 (4.762%)
Open: 0.43
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Kodal Minerals makes progress with Bougouni Project licence application

Mon, 30th Dec 2019 14:58

(Sharecast News) - Lithium-focussed mineral exploration and development company Kodal Minerals updated the market on its application for a mining licence for the Bougouni Project in southern Mali on Monday.
The AIM-traded firm said it had completed the underlying engineering and appraisal work that supported the mining licence application, and was currently compiling all documents and appendices that formed part of the application.

"The technical reports and documents are currently being translated into French for final review and approval prior to submission," the board said in its statement.

"The company expects to lodge the mining licence application in mid-January 2020."

Kodal Minerals said it would provide full details of the mining licence application when it is lodged.

At 1542 GMT, shares in Kodal Minerals were up 10% at 0.04p.
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Kodal Minerals PLC - London-headquartered West Africa-focused lithium and gold-focused exploration and development company - On Wednesday said final assay results at Bougouni lithium project confirm high-grade mineralisation with additional high-grade lithium mineralised intersections at the Boumou, Bougouni South and Ngoualana prospects. Boumou is a high-priority target for further drilling to extend and define pegmatite bodies and allow for new resource estimate. Company also confirms further extension to June 30 of deadline for completion of funding package announced on January 19, agreed with Kodal Mining UK Ltd, Hainan Mining Co Ltd and its UK subsidiary Xinmao Investment Co Ltd. Hainan had agreed to acquire 51% of Kodal Minerals for USD100 million plus USD17.75 million equity subscription at 0.5p per share. Original deadline was April 30, first extended to May 31. Conditions still not yet satisfied include the transfer of Bougouni to a new Mali mining company owned by Kodal Mining.

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