Member Info for ivenoidea

We have gone from "anticipated" date to no timeline at all! .... now it could well be just a minor delay due to the late arranging of the community consultation meeting. I imagine that took some organising getting all those different people together for a couple of days.

BA - Just let us know why its been delayed and how long for?... because it has now been left for the negative element of this forum to fill the gaps with unsubstantiated noise.

Remember that the RNS for the placing in March stated:

- Completion of the Environmental and Social Impact Assessment, anticipated to be lodged by the end of Q2 2019;
- Further metallurgical test work with an update expected by the end of Q2 2019;

The RNS at the end of May we are told this: "...with all specialist baseline studies complete and draft reports received and reviewed by Kodal.... .....These are key documents for the ESIA and combined with the community consultation indicate that the ESIA is nearing completion. "

Today we are told that they are still compiling "techinical reports". are these not "baseline studies" then? Why no mention previously? I have worked with many people who slip "new" information into the mix to justify a project delay, doesn't look good to me.

Aside from that we are missing the promised update on metallurgical test work.

I agree we need real assurance that this really is being fast tracked to production. There is a window of opportunity here that we really can not afford to miss out on.

I am happy to add my weight behind any action group and own a fair few of these now.

Not yet James, come back in 6 months and you might be pleasantly surprised!

Has anyone seen this from proactive investors dated 10th June?

https://www.proactiveinvestors.co.uk/companies/news/215124/kodal-minerals-beginning-to-get-a-real-handle-on-the-potential-on-offer-at-bougouni-215124.html

The bit I was surprised at is the first bullet point below:

- JORC resource imminent for Bougouni
- Well-funded, but all junior explorers return to the market for more cash in due course
- Metallurgical testwork will provide further detail on viability of Bougouni
- Design engineering is ongoing for the proposed processing plant

Time to get this mine up and running is drawing nearer and just in time I think: https://www.bbc.co.uk/news/business-48630656

https://www.miningreview.com/gold/mining-code-mali-on-the-cards/

sxxswe, I would support the EGM if its required and more than meet GFDs stipulated requirements.

I am expecting by the end of next week an RNS which provides details on:

- ESIA Submitted
- Metallurgical Testing results

That is what we have been promised in previous RNS posts by end of Q2. If this information is not made available via an RNS then I would like to know why?

Here is a reminder of the timeline BA confirmed back around 5/2/19:

2-3 Months:

Resource Upgrade Finalise - COMPLETE
Metallurgical testing - IN PROGRESS ( news on this via RNS in the next few weeks)
Exploration drilling of our highly prospective target - IN PROGRESS (BA mentioned upgrading and extending some of the current JORC to Reserve status later this year)

6 Months:

Complete ESIA
Complete Feasibility Study
Prepare mining licence application

12 Months:

Complete Mining licence application and negotiation with Mali government
Finalise mining optimisations and open pit design for processing plant construction which the target to commence is during 2019.

Bib, The last annual report contains a snippet about the contractor having difficulty mining the ore... I've been out celebrating saving my wife's life but will look it up in the morning. Stay with this, it will come good I'm sure of it. Good luck.

Bib,

Have you seen this link provided by somebody a while ago?:

https://iclg.com/practice-areas/mining-laws-and-regulations/mali#chaptercontent1

I am no expert on mining but I think the permit you maybe eluding to is the 'small scale mining' permit which needs to be accompanied by an Environment Impact Statement. I am not sure if its required for the 'bulk sample' because I would expect that to be covered by the exploration permit..

..because surely you would need to extract a bulk sample to "prove the existence of an commercially viable deposit"? I guess the size of the sample could be an issue perhaps?

I would like the company to explain why near 1000 tonnes of ore has sat in the port of Dakar collecting dust for the last year. This may have to wait for the AGM.

Anyway, I don't think any of the risks you describe are 'new' and I am not sure the relevance of BAs physical appearance at a mining conference has with regard to the SP. -- The SP actually increased following BAs performance in Cape Town!

I think I'll be joining you captpat. I've done very well on a couple of other shares which I'll be cashing in next week, I think some of the profit might have to be used to bag me another 4 or 5 million of these. The risks are no different to my first purchase last year in may, in fact they've been reduced. I'll continue to accumulate with any profits made elsewhere until financing is announced.

Volume and is low, hang in there like everyone else. The ESIA will land within the next two weeks, that I'm sure of. The negative comments are unavoidable in this kind of share during news drought but things are happening behind the scenes. Now is the time to sit tight.

I wonder if the bod will dip their hands in their pockets at these prices?

Looks like one of those T20 rollovers... Waiting for news before a disposal I'd imagine....

It's definitely game on SorB https://www.vanadiumcorp.com/news/industry/world-first-grid-scale-lithium-vanadium-hybrid-project-will-be-in-the-uk/

Jamesroo, I don't believe the aim is to obtain exclusive information although I'm sure gfd can correct you on that. My understanding is the group would be used to apply pressure on the bod to be more forthcoming with information. For example the bulk sample work clearly had issues last summer, it's taken twelve months to disclose any real information and even then we're left very much in the dark. Better communication could result in a better investment story. The only reason I'm not getting involved for now is that ivenoidea who gfd is and until I meet people at the AGM I will not be contacting private email addresses.

Thanks hornedrum, appreciate the info. Regarding the bulk sample, RNS's show we signed a contract with a Chinese company last year in April and following the first payment said company mined 1000 tonnes of ore which has been sat in Dakar since may last year. No further updates on payments or mining of ore were made via RNS. I suspect problems with the contract or quality of work happened around this time and no more payments were made until matters were resolved which ended in terminated contract. Our next accounts will hopefully confirm the payment side of things. It matters not as we are still progressing the project and whilst there's a bigger story being swept under the carpet is it relevent any more? If we get these permits sorted and an update on the feasibility study I'll be a lot happier. I saw the most recent RNS as a clearing of the decks ready for a series of more positive information flow over the coming weeks and months until Christmas... We will see.

I'll take a look hornedrum.

https://mobile.reuters.com/article/amp/idUSKCN1TA04F Interesting article for anyone interested.

Hornedrum, you've raised this unrelated issue before and it's been addressed before by others far more eloquent than me. Where are the parallels? Are you suggesting BA is dishonest? Can't see how bellzone compares to this project if I'm honest? Nobody is your friend in investments but I've chosen to invest here because I believe in this project and BA. That's my choice and my judgement, if you can prove I'm wrong with factual evidence then please do so.

I'll be at the AGM but not the special meeting. My mum warned me about strangers.

On the home straight soon Ned, hang in there!!