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That new institutional investor has done there due diligence and are happy to lend at a small discount, that says it all, they would be privy to far more info than the mere PI, bring on that yellow stuff
Not bad at all, not only will we have gold pours on a regular basis we can now expect news flow from the high grade prospective arokeri licence, what’s not to like minimal dilution for expedited delivery and license expansion, I would take this any day, double time production…
I posted this over on advfn this am, seems others are of the same opinion
FWIW
Having spoken to board level late last week, I can say that the delay on the original elution facility was nothing to do with GRL, the ministries pulled the license on the original contractor for some reason or other, this was 2 days before we were due in, conversations continue with the ministry as too the use by Grl of the facility in its own right, which is ongoing, so there COULD be 2 elution facilities available allowing us to ramp up activities always DYOR
Another goldie in Mali is KOD, there recent drill results and market cap are astonishing £60 million and if I’m reading this correctly their drill results are based on small intersections like 2m at .o6 and a whopping 1m at 1.14g, anyone shed any light on this
Aircore drilling significant anomalism includes:
o 2m at 675ppb gold from 26m eoh in drill hole NLAC295
Including 1m at 1140ppb gold from 26m.
o 6m at 240ppb gold from 18m in drill hole NLAC230
o 1m 780ppb gold from 21m in drill hole NLAC277
(eoh signifies an end-of hole anomalous intersection)
(ppb gold is parts per billion - 100ppb gold equals 0.1g/t gold)
-- Aircore drill results consistent with the initial reconnaissance drilling that discovered the Nielle mineralised zone.
-- Kodal's recent drilling campaign has successfully extended the Nielle gold mineralised trend as well as confirmed high grade gold mineralisation.
-- Follow-up and infill drilling to be carried out in the next phase of work.
Bernard Aylward, CEO of Kodal Minerals, commented: "Our Mining Licence application for the Bougouni Lithium Project is now in the final stages of approval. The new Mining licence decree has been drafted and verified by the Mali Ministry of Mines and forwarded to the Secretary General's office. From this point the licence application is prepared for presentation at the Conseil des Ministres of Mali and following agreement will be formally approved. We will be monitoring the progress and will update investors as we receive further information.
"Our first gold exploration drilling campaign at the Nielle concession has been very successful. As previously announced the reverse circulation ("RC") drilling returned high-grade gold mineralisation and now our reconnaissance aircore drilling is demonstrating major strike extensions as well as additional parallel zones of mineralisation. This aircore drilling is wide spaced, however the tenor of gold anomalism returned is consistent with the initial drilling that discovered the Nielle gold mineralised zone. The Nielle prospect is at an early stage however the results received so far have given encouragement as to the possible resource potential here. Further exploration drilling will be undertaken later this year with the objective of delivering a maiden mineral resource estimate."
FURTHER INFORMATION
Nielle Concession
Kodal completed this reconnaissance aircore drilling campaign with a total of 152 drill holes for a total of 5,084m completed. The drilling was planned to target the strike extensions of the defined gold mineralised zone that has been confirmed by our initial RC drilling as well as target new parallel targets that were indicated in surface geochemical anomalism.
The aircore drilling averaged 33m depth and intersected a weathered geological profile with the intersected gold anomalism associated with quartz veining and evidence of alteration. The bottom-of-hole gold anomalism further confirms that t