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News release 11 hours ago from a different local media source

Following the presentation of the Minister of Mines' report, the Council of Ministers reached a decisive milestone in the advancement of Mali's mining sector by adopting a draft decree authorizing the transfer of an operating permit for a large lithium mine. This permit, initially granted to Future Minerals-SARL, will now be managed by Les Mines de Lithium de Bougouni-SA, a company recently incorporated in accordance with national mining legislation. The mining site in question is located in Foulaboula, in the Bougouni region, a promising area for the extraction of this strategic mineral.

This project dates back to the issuance of a prospecting permit for lithium and other Group 2 minerals to Future Minerals-SARL in the Foulaboula area. Investigations conducted by the company revealed a vast lithium deposit. Estimates show considerable reserves of 21.31 million tonnes, with a respectable grade of 1.11% lithium oxide. This concentration makes the site economically viable and exploitable using conventional open-pit methods, with an expected operating life of ten years.

Thanks to this major discovery, Future Minerals-SARL was awarded a large lithium mine operating permit via Decree No. 2021-0774/PM-RM of November 5, 2021. To comply with the rules of the Malian Mining Code governing large-scale exploitation, Future Minerals-SARL created a mining company under Malian law under the name “Les Mines de Lithium de Bougouni-SA”.

The decree adopted by the Council of Ministers thus formalizes the transfer of this crucial operating permit to this new entity. This strategic decision marks a significant step forward for lithium mining in Mali, a mineral that is increasingly essential in the global energy transition, particularly for the production of batteries for electric vehicles and energy storage systems.

This permit transfer should allow the Foulaboula deposit to truly begin its exploitation phase, with significant potential economic benefits for the Bougouni region and the entire country. Job creation, the injection of capital into the local economy, and revenue generated by lithium exports are all positive prospects emerging from this government decision. The next steps will involve installing the infrastructure needed for extracting and processing the ore, as well as ensuring compliance with applicable environmental and social standards.

Kandana/Malijet.com

Source: Malijet

Gareth

I'd anticipate 1.3p, then 2p when first shipment goes out, then 3p on nameplate production

BFD

the key word here is 'Adopted'

When a draft decree is adopted, it means the decree has been formally approved and becomes a legally binding document, outlining specific regulations or policies. This process typically involves a review and approval by relevant government bodies, followed by publication and implementation. The adopted decree will then guide the actions of individuals, businesses, and government agencies within the specified area.

For a decree to be adopted, the president has to sign off on it prior, which has clearly been done, for it to be adopted

Https://x.com/SharesChat/status/1912752667228594616/photo/1

Worst case, RNS comes out of hours, or on Tuesday after the holiday weekend. Dare I say it?

Wouldn't want to be out of this over the weekend :-)

Either way, we know the license has been granted as it's been reported in the local press

That's right Chef, 6.58% up isn't anything really - Dunce

Pre RNS leak - for those that missed it

https://saheltribune-com.translate.goog/bougouni-capitale-du-lithium-une-decision-strategique-pour-lavenir-minier-du-mali/?_x_tr_sl=fr&_x_tr_tl=en&_x_tr_hl=nl&_x_tr_pto=wapp

Merc - Wait till the news hits the mainstream over the weekend, and then when that lovely RNS drops :-)

There you go Chef - Just shy of 3 million on the bell

Thank you, your order has been executed:

Bought 2997250 KOD - KODAL MINERALS PLC ORD GBP0.0003125 at a price of 0.4p

While the RNS is not here, that works for me, I'll be looking to add 3 million shares on the opening bell

Who cares? In other news, KOD finally have the mining licence transferred as of late yesterday, will 11k tonnes of spod all bagged up ready to ship

I'm hoping the RNS is delayed, then I can top up more shares on the cheap

Looks like LSE RNS system is broken again, not even any FTSE or the daily test message showing

RNS Out.........

Very shortly

No George - It gets the signature, then gets adopted in parliament - It can't be adopted without the signature - as the signature is what enshrines it into law

BOOM!!!!!!!!!!

On the report of the Minister of Mines, the Council of Ministers ADOPTED a draft decree 'authorizing' the transfer to Les Mines de Lithium de Bougouni-S.A.

My mistake - the key word here is 'Adopted'

When a draft decree is adopted, it means the decree has been formally approved and becomes a legally binding document, outlining specific regulations or policies. This process typically involves a review and approval by relevant government bodies, followed by publication and implementation. The adopted decree will then guide the actions of individuals, businesses, and government agencies within the specified area.

So it's a draft then, and not officially enacted?