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Processing and refining is not the same as Hainan's plant.

That is where the run of mine is changed to concentrate.

Not sure they will be running a plant for that, I saw the article re a Russian company but suspect that will not happen.

Gold ore is a Mali issue - I am not fully up to date with that. I know the same Russian company had been named for that too, but that was a while ago and I am not aware of one being built with that company. I don't know if there are any others.

Onlyking the extra revenue is largely from stopping movement of ore from one gold mine to another.

In my link you will see overproduction etc penalties in the 2019 code. Some mines just ran ore out of their mine into another processing plant to avoid the tax - hence the clampdown in the 2023 code.

The government wants mining licences issued to be worked, for them to be remotely near their submitted figures so the mining office mining licences issued have relevance to tax income to the government and exports expectations.

Not so crazy.

Before the usual crew start with tax incentive rubbish being lost, that already happened in the 2019 code, for both VAT and customs etc.

https://www.nortonrosefulbright.com/en/inside-africa/blog/2019/12/mali-entry-into-force-of-the-new-mining-code

Mira, I am not sure at what stage that is signed and implemented.

At Leo (totally my thoughts) I think it was an issue because they were going to sell from the site (ore).

So for us I would expect that to be signed and completed before or near the end of December.

I don't imagine we will send anything more than samples before January 2025. We didn't ask where the first shipment will be stockpiled on site or on the Ivory Coast. Or what size shipments are expected.

Kodal= Kodal Minerals PLC

Mira, may be the same as you are saying:

The mine is wholly owned by the Mali company, the government will have a free stake and possibly a purchased stake in the Mali company.

KMUK own everything in the Mali company, minus the free stake (as far as earnings go). Hainan will own 51% of KMUK, Kodal own 49% of KMUK.

White buffalo agree regarding investors and risk.

I agree with Accionista and others re the government free stake.

Moving to the new mining code if it happens may be equally as much about not being too tied to timescales and production figures in the second plant. Phased development could be more tying.

If you look at each mining code and the changes they brought in as covered by consultants to the mining companies in Mali it is about productivity being closer to the mining licences issued, not mothballing and penalties for submitting DFS or BFS which bear no relation to productivity.

With lithium prices lower than the recent highs, but much higher than the previous averages it could be risky to be too tied in with timescales and production figures.

That whole area is complicated as I have been reading around it with the gold mines in Mali.

A lot seems to come back to the same thing some CEOs and mining consultancy companies pushing the envelope a little too far.

Just my opinion from reading around the codes and articles on some gold mining companies operating in Mali.

Elcobble when the Mali government get the Leo money in October it will be interesting to see if they invest at all, in Goulamina or us, or avoid Lithium and invest in gold by buying a share of a mine.

We will see.

Bean counting, they mean they lost the advantage that they built up, they were ahead of schedule lost that, which they informed us about, but then lost more time with the weather - which made headlines as Mali had to ask for external help.

Gazza, cash can buy time - not having it would be the problem.

I posted end of March. I have had many delays new things which should work being the biggest disappointment.

Odd situation, few weeks delay that the market does not like.

Licence expected to be sorted in the following 5 or 6 weeks.

Where will the shares go today?

Daz bad weather which required Mali asking for global assistance, not each year rainy season bsd weather.

We are fortunate there was not site damage.

Ijr, it was in the RNS take them to maiden.

Best not release people's real names there are some really bad trolls about.

I know someone who did some really light hearted non political, not connected to anything whatsoever sensitive in any way shape or form and had multiple death threats.

Weird world.

Merc, I keep saying it as others have, if it stays low the choice is easy 1.5p and it all gets a bit sweaty.

Good spot George.

Onlyking I agree.

In some ways you can see why the new mining code went to a percentage locally.

It is hard work doing good locally under the old licence.

Of course one thing about the mine doing it is it does happen while in some African countries the local money could go missing.

Must have been covered a hundred times. The gangs Starmer says he can smash!

They only affect Libya, Nigeria, Niger, Chad, Northern Mali, Burkina Faso, the Ivory Coast etc etc. money making border crossings.

There is a big dairy at Aylesbury which has a large fleet of them. Still operating. They must be loving Lithium batteries as they were still using the old type.

Elcobble - wow.

I recently watched a programme electric vs petrol and newer design batteries were dropping in storage ability much less than expected and obviously way less than original batteries.

The future for most is definitely going to be EVs. And a few years down the road cheaper conversions for low mileage leisure users is going to be exciting. People who only go to the shops tiny battery and low power motors, people who go further bigger battery packs and bigger motors. People will be putting them into all kinds of cars, maybe even Model Ts.