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Hey,
Below is from the KOD Telegram group which I think is worth sharing on here.
Overview;
Kodal Minerals (KOD) £23m Mcap
Everything in place, just need the license which will be ‘finalised shortly’. Once secured this should re-rate to £60-£80m overnight.
Pro mining jurisdictions ?
- Mali, 300% increase in licenses granted per month since 2020
Resource identified ?
- 220,000t/pa of 6% lithium spodumene concentrate
- Life of mine revenue US$1.4bn
Advanced status ?
- Feasibility Study completed
- Fully environmentally approved
- Off-take agreement in place
- License application submitted
Well connected ?
- Major shareholder, Suay Chin links to lithium processing plant
Diversification ?
- High grade gold licenses in Mali and Ivory Coast
- Funded for extensive exploration
Nexts steps in mining license from the (04/05) RNS:
i. Kodal to finalise minor changes to the lodged licence application to bring it in line with new Mining Code 2019, which is expected to be completed this week. - WE CAN EXPECT THIS TO BE ALREADY COMPLETED.
ii. After filing the updated application, Kodal is expected to then receive a formal notification from the DNGM with a request to pay the fee for the Mining Licence of 100,000,000 XOF (approximately £135,000) - EXPECTED NEWS W/C 24th May
iii. Upon payment of the fee, the DNGM will then draft the Exploitation Decree (Mining Licence) which is forwarded to the Ministry of Mines, Energy and Water. - EXPECTED W/C 31st MAY
iv. If all is in order, the Ministry of Mines, Energy and Water will then forward the Exploitation Decree to the office of the Prime Minister for formal signing, which is the final step in the process. - EXPECTED TO BE SIGNED W/C 7TH JUNE
At the completion of this process, the timing of which is uncertain, a new Mining Licence would be issued to Kodal Mineral's subsidiary company in Mali, Future Minerals SARL. At this point Bougouni will be fully permitted for development, with the Environmental Permit having previously been granted in November 2019 following approval of the Company's ESIA study. EXPECTED same week as approval (W/C 7th JUNE)
Separate to the granting of the Mining Licence and as required by local law, the Company will subsequently negotiate a shareholders agreement and operators contract ("Mining Agreements") with the Government to establish a new company that will be the mining entity. It is noted that the Government cannot take its position in the mining entity until the Mining Agreements have been finalised and approved by the Mali Government Assembly.
Kodal Minerals PLC - Mining Licence Update - Bougouni Lithium Project #KOD https://www.**********.co.uk/rns/announcement/3b56e6a6-08b1-4225-bbb0-737ea3aa6323 #********** undefined
One thing some people haven't noticed is that it was EID in Mali this week. So no work/progress would have happened with the license this week.
Luckily next week is all back to normal, so I'd expect not next week but the week after we'll hear an update on the license. This share is still undervalued IMO.
Hold and stay strong :-)
I have to disagree with you, there was double the amount of buys compared to sells today. Going off the number of people posting on this board has no reflection on the SP either.
Like you say the fundamentals have not changed. The past few days have just been the market traders playing games to make the share drop so they scare people into selling so they can buy in at a lower amount before the news gets released so they reep the rewards and denie those that sold of making a potentially life changing amount (depending how many shares they have/had).
Stop changing the subject, you accused me of saying something I never said. Now I'd like you to show me the proof.
Or are you changing the subject now because once again you was trying to cause drama?
#KeyboardWarrior
Obviously today and yesterday has been mixed with the SP. But don't be fooled, its just the market traders playing games. Nothing has changed, just remember 2 things:
1) Good Gold Updates coming soon!
2) License Update is coming!
Theres more buys today than sells, currently 426 mill buys VS 258 million sells. So theres more buys than sells, don't be fooled by the market traders trying to bump the price down to benefit themselves. This happens in more or less EVERY share where great news is expected so the market traders can make more cash by you selling your shares before the big news arrives.
Don't let them take your money! HOLD and if your in a position to buy more then do so! I've already topped up today another 2.4 million shares.
I feel sorry for all those that have an order to sell at 0.24 as i can see this happening, they'll be regretting it as this is share is heading to the moon!
Someone call Elon Musk and tell him to get the rocket ready!