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@ GHOST61

the "Hainan Xingzhihai New Materials Co., Ltd. 20,000 Tons of Battery-Grade Lithium Hydroxide Project is still in building phase.

From 02 Aug 2024:

Economic Daily, Haikou, August 2 (Reporter Wang Wei) Since this year, Hainan Danzhou has relied on the advantages of the free trade port policy to focus on new materials, new energy, digital economy, biomedicine and other industries, focusing on upgrading the industrial chain and creating a better Convenient business environment, actively introduce advantageous projects, cultivate characteristic industries, and accelerate the development of new productive forces.

　　Walking into the construction site of the 20,000-ton battery-grade lithium hydroxide project in Yangpu Economic Development Zone, workers were nervously installing production equipment. The project has a total investment of 1.056 billion yuan and covers an area of 200 acres. "Currently, 95% of the civil engineering progress of the entire project has been completed, 90% of the steel structure construction has been completed, and 85% of the equipment installation has been completed." Lin Shizhong, deputy general manager of Hainan Xingzhihai New Materials Co., Ltd., the project investor, said that not long ago, the core device of the project The rotary kiln ignites the kiln and achieves important phased goals. After the project is put into operation, it will drive the development of the local new energy industry.

https://www-hinews-cn.translate.goog/news/system/2024/08/03/033185767.shtml?_x_tr_sl=zh-TW&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

Extra:

They bought 2 batches of SC from other mines to prepare commissioning

They expect to use SC from Bougouni in Q1 2025.

The product from the Hainan Hydr plant is mainly for the Japanese and Korean markets

DYOR

GLA

Gold, Lithium or other mineral substances in the ground of Mali is never owned by a person or Company. We can only have the right to dig it out. And in making profit on it, pay taxes and dividends to the Malian Gov and dividends to possible Malian investors.

From Mining Code 2023

Article 3 : Natural deposits of mineral substances contained in the soil and subsoil of Mali are,

by operation of law, the property of the State. The State shall ensure its development either

directly or indirectly, in particular by calling on the assistance of private initiative in accordance

with the provisions of this Code.

DYOR

GLA

11 July 2024 the Minister of Mines published a press release

This document is available on the facebook page from the Ministry of Mines MALI (Post 13 July 2024)

https://www.facebook.com/people/Ministère-des-Mines-du-Mali/100064679081890/

Here is the part that talks about the agreement with Uranium One Group for Lithium : (Google Translate)

In this perspective, the Minister of Mines informs national and international public

opinion that the State of Mali has signed a memorandum of understanding with URANIUM

ONE GROUPE, a subsidiary of ROSATOM, a Russian public company specializing in

the nuclear energy sector. . Thus, it is planned to accelerate research work and

development of the Bougoula lithium permit in the Bougouni region. The objective of the

project is part of the Government's desire to proceed in the future with the

transformation of lithium concentrate for the production of lithium batteries in

Mali. In application of this orientation, the Government, in its session of the Council of

Ministers of July 10, 2024, proceeded with the renewal of the Bougoula lithium

research permit, subject to a transfer agreement between the company MOKETI

MINING SARL and URANIUM ONE GROUP.

Welcoming the contribution of all stakeholders in the mining sector to the process of adopting

implementing texts, the Minister of Mines reassures that arrangements are underway for

the rapid implementation of reforms and the lifting of the relative suspension

measure. to the attribution of mining titles.

The Minister of Mines

Amadou KEITA

DYOR

GLA

Voting rights and major shareholding disclosure

Under DTR 5.6, issuers are required to disclose to the public the total number of voting rights and capital in respect of each class of share which they issue at the end of each calendar month during which an increase or decrease has occurred, unless the exemption available in DTR 5.11.4R applies.

Under DTR 5.8.12R, issuers are required to disclose to the public major shareholding notifications they receive from shareholders and holders of financial instruments falling within DTR 5.3.1R(1), unless the exemption available in DTR 5.11.4R applies.

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/shareholding-notification-disclosure

GLA

DYOR

RNS From Firefinch:

Settlement with Government of Mali and Agreement with Leo Lithium and Ganfeng

https://www.investi.com.au/api/announcements/lll/c0288d09-a3c.pdf

The Government also raised concerns regarding the transfer of the Torakora exploitation permit

underpinning Goulamina (the Exploitation Permit) from Timbuktu Ressources SARL (TRSL) to LMSA

(a subsidiary of MLBV which is jointly owned by Leo and Ganfeng) and established a Negotiation and

Renegotiation Commission between the Government, Firefinch, Leo and Ganfeng in relation to

issues relating to Morila and the alleged irregularities in the transfer of the Exploitation Permit,

among other things (the Commission). Leo has denied the alleged invalidity with the Exploitation

Permit.

Notwithstanding that each of Firefinch, Leo and Ganfeng have presented information to the

Commission that Firefinch and Leo are not connected (other than Firefinch’s 17.6% shareholding in

Leo), the Government has insisted on conflating its concerns with Morila and Goulamina, proceeded

on the mistaken view that Firefinch and Leo were one and the same company and has insisted that

its concerns are resolved on a global basis.

The Government has become frustrated with Firefinch and Leo not agreeing to the Government’s

demands. As the dispute has become increasingly acrimonious, Ganfeng has become involved in

attempting to resolve the dispute and has become the primary channel of communication between

the Government, Leo and Firefinch

Firefinch has become aware that the Government was poised to find the permits and licences of

Goulamina (including the Exploitation Permit) as invalid or irregular such that LMSA would lose title

to Goulamina and be prevented from commencing production unless, by no later than 7 May 2024:

More in the RNS

DYOR

GLA

Looking for the correct figures (flotation)

16Mt ore ro process (from 21.3Mt ore available)

2.024Mt Sc to produce

that is 8:1 and is more realistic

https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/xz0157r

For DMS only

3.9Mt ore to process (from 5.1MT available)

0.505MT SC to produce

again 8:1

https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/xpnnvqr

DYOR

GLA

GeargeH1987

I was using a 9:1 conversion what is even better than what Kodal uses on their website for the feasibility of Bougouni

21.3Mt ore for +/- 1.94Mt Spodumene concentrate => 10.98 : 1

DYOR

GLA

The possible 50Mt from Kodal Minerals is not Li Carbonate but Spodumene resource

50Mt Spodumene resource gives maybe 5.5MT Li Carbonate

DYOR

GLA

Vacancies appeared on Linkedin on Friday April 19, 2024:

General Foreman

and

Senior Environmental Officer

Vacancies published by the new BMSA "Human Resources and Administration Superintendent" Issa Kamissoko

https://www.linkedin.com/in/issa-kamissoko-42aa26101/

DYOR

GLA

Other Kodal investor presentation (March 2024) with an additional timeline

"2024 Construction Schedule" Pg5

https://kodalminerals.com/wp-content/uploads/2024/04/240328-Kodal-Construction-Update-presentation-FINAL.pdf

DYOR

GLA

Just because they have started doesn't mean everything is ready, but there is clear activity in the DMS plant area and what could that be? For me that means clearing and preparing the site by removing vegetation and leveling the surface and possibly some other preparations. But we cannot see in detail what is happening on satellite images, but there are clearly activities on both Ngoualana and Boumou that originate from KMUK. If the weather conditions allow it, we will certainly see more on the next photo and hopefully also soon photos via Kodal PR.

And there is no doubt that there is still a lot of work to be done in preparation for the arrival of the parts of the DMS plant

link to a small video with what can be seen at Ngoualana DMS area (2 days available)

https://streamable.com/51zcbg

DYOR

GLA

Waiting to be created?

LMLB is created as subsidiary from KMUK to receive the license from Future Minerals via an official transfer!!

And Mali Gov can not participate in the JV!

DYOR

Historical exploration by Rockridge Capital Corp(RRC) for their Fatou Gold project (is not the same area than what Kodal has now in 2 licenses for their Fatou Gold project (Fininko – Foutière)=> 310Km²

info from technical report RRC 2014:

Between 2010 and 2013:

12,000 soil samples

1,278 Pit Sampling

986 Auger Holes/samples

1,254 Mobile Metal Ion Survey samples

Aerial VTEM : 2,880 line km ( combined EM, magnetics, and radiometrics)

Ground IP: 13.15 line km gradient array and 5.075 km pole-dipole

Regolith mapping: Eastern half of the concession

Artisanal workings map: Locations and relative quality of ~1,500 pits mapped

Geologic mapping: Various interpretations from drill data

RC drilling: 27,466 meter for 256 holes

DD drilling: 29,148 meter for 144 holes

All this exploration was spreaded over Fatou, Fatou main gold, Fininko, Digan S, Digan N (Both Digan areas or not included in current Kodals licenses)

The data from this exploration is used by the authors of the Techncal report for a resource estimate to achieve an “Inferred estimation”: results of 85 holes => 55 DD and 30 RC

https://kodalminerals.com/project/gold-projects/fatou-gold-project/

DYOR

GLA

From the Hainan Mining News on their website (information disclosure):

This a part of their announcement (translated In Google translate)

"According to the relevant provisions of the company's capital increase agreement with KMUK, the termination payment agreed in the "Resolution of Underwriting Agreement" will be paid by KMUK with its own funds, which will not have an impact on the actual operation of KMUK;"

DYOR

GLA

As we don't know what is in the binding contract between Kodal Minerals and Xinmao (Hainan Mining) for the JV KMUK, here an informative writing from a attorneys website:

The most important thing any business needs, whether it’s a 50/50 or 51/49 agreement is a written, legally binding contract that limits the power of either party. Clauses can include:

Creating a pay or profit-sharing arrangement

No owner can be fired or demoted without good cause

Outlining the responsibilities of both parties

The majority can’t sell the business unless it’s to the minority shareholder

By having a contract in place, both parties are protected and their rights are assured.

https://www.kirkkirklaw.com/legal-resources/should-you-enter-into-a-51-49-operating-agreement/

Https://www.youtube.com/watch?v=epOagtHNn9E

DYOR

GLA

Bridgedogg1

5%?

Suay Chin has 11.85% participation in Kodal Minerales PLC

DYOR

GLA

I hope they have something more to tell us about the 100% Off Take agreement

DYOR

GLA

Rockridge published in 2015 a second technical report for Fatou with a table in it for "Inferred Resource within Total Blocks" and the 0.60 cut of in there says 340,000 Oz. OK, is close to 350,000 oz but it is "Inferred"!!

DYOR

GLA

Stephen11

there is nothing known about how much gold there is in Nielle

Only for Fatou there is the figure of 350,000 Oz but that was never officially mentioned by a former owner, only by Kodal

DYOR

GLA