Ready, Steady......Go!22 Sep 2023 09:15
A few indicators that the deal is very, very, close.
Not my words or speculation, all referenced from todays RNS:
- The DMS plant design is close to completion, with procurement specifications finalised in readiness for the drawdown of the US$100 million funding package from Hainan, which remains subject to final regulatory approvals in Mali (as announced on 31 August 2023).
- Bernard Aylward, CEO of Kodal Minerals, remarked: "Kodal and Hainan continue to work closely together to finalise the major funding package as announced 19 January 2023 and significant progress is being made towards completion. Kodal and key Hainan representatives have met in Mali to meet with government officials and undertake site visits in preparation for the commencement of development.
- The development of Bougouni continues to receive strong support from Mali Government officials and within the local community, and the Company will be commencing the upgrade of local access roads in the coming weeks in preparation for major development activities to commence on site at Bougouni.
- Further bolstered by the already significant resource at Sogola-Baoulé which alone totals 12.2Mt @ 1.10% Li2O.
I don't know what the panic is all about and what a lovely surprise from Sogola-Baoulé - Kodal - the gift that keeps on giving.
It seems to be Kodal are prudently completing all the relevant due diligence work - better to do this correctly now, as opposed to storing up issues for further down the line (as other companies have done)!