Key points from Bernard's interview yesterday!28 Oct 2023 10:47
Https://youtu.be/bUbZdjCWSyk?si=SzPBzuKoscAo7e0z
Just reviewed the interview now that i have more time to digest. Please find info below, for existing shareholders and those thinking of investing - this ship won't stay under a penny for long!
- Full funding package finalised with Hainan ($117.5m). This will cover the manufacture and assembly of the DMS plant and all other related costs to enable the company to commence mining and processing
- Significant funding in place for the continued drilling and testing of the gold, as well as the lithium assets (17.5m from the figure above)
- A couple of items still outstanding - mainly the transfer of the mining license, which is in the hands of the Mali Government
- Bernard reiterated that Hainan are a very ambitious company and this project represents there first mining investment in Africa
- Bernard stated that Kodal have built up a high level of trust and a conducive working relationship with Hainan
- Listen carefully to the interview - i loved this part. Bernard states that Bougouni will represent the FIRST mining project with Hainan. Bernard mentioned at the AGM that part of the $17.5m would be used to look at other investment opportunities. Might this mean Kodal are thinking about purchasing more lithium rich ground. Speculation on my part, but its a logical step!...maybe a 2nd, 3rd lithium mine in a couple of years down the line - who knows?...a similar JV arrangement with Hainan
- Bernard is meeting a group of Hainan representatives today, onsite in Bougouni (good for photo opportunities and positive PR)
- The site works are ongoing for the imminent lithium resource upgrades
- Roads networks are being developed at present
- Final orders can now be placed for all the components of the processing plant - this will be a significant step that will reduce the timeline to mining
Apologies if i've missed anything.
Exciting times - GLA.
Stephen11.
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