Last checked at 2 Jul 2019 13:07
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
2 July 2019
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
Directorate Change
Kodal Minerals announces that Luke Bryan will step down from the Board of the Company and from his role as Technical Director with effect from 5 July 2019. Luke has decided to focus his time and effort on the other mining projects in which he is involved.
Robert Wooldridge, Chairman of Kodal Minerals, remarked: "Luke has been a key member of Kodal's management team since he joined in 2013, initially as CEO overseeing the Company's IPO in December 2013 and its subsequent move into West Africa, and more recently as Technical Director. His technical expertise and commercial advice have been of great value to the Company and Board and will be sorely missed.
"Luke is actively involved in a number of other projects, notably with Vardar Minerals Ltd which has an ongoing exploration programme in Kosovo and with Kalahari Metals which is exploring in the Botswana Copperbelt, and he will now be able to devote more of his time to these opportunities. We thank him for his significant contribution to Kodal and wish him all the best in the future."
Board Committees
Following the departure of Luke Bryan, the Audit and Risk Committee will now comprise Charles Joseland as Chair and Robert Wooldridge and Mark Pensabene.
The Remuneration and Nomination Committee will now comprise Robert Wooldridge as Chair and Mark Pensabene, Charles Joseland and Qingtao Zeng.
**ENDS**
For further information, please visit www.kodalminerals.com or contact the following:
Kodal Minerals plc Bernard Aylward, CEO |
Tel: +61 418 943 345
|
Allenby Capital Limited, AIM Nominated Adviser Jeremy Porter/Nick Harriss
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Tel: 020 3328 5656 |
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay
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Tel: 020 3470 0470 |
St Brides Partners Ltd, Financial PR Catherine Leftley/Cosima Akerman
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Tel: 020 7236 1177 |
About Kodal Minerals
Kodal Minerals' primary focus is on the rapid advancement towards production of its flagship Bougouni Lithium Project in Southern Mali. The JORC Resource Estimate places the Bougouni Project in the top 15 hard rock lithium projects globally and was calculated using only three of the eight currently recognised prospects demonstrating the significant exploration upside potential remaining across the 450km2 project area. The Mineral Resource estimate for the Ngoualana, Sogola-Baoule and Boumou prospects are tabulated below. These mineral resources are reported in accordance with the JORC Code:
Prospect | Indicated | Inferred | Total | ||||||
Tonnes (Mt) | Li2O% Grade | Contained Li2O (kt) | Tonnes (Mt) | Li2O% Grade | Contained Li2O (kt) | Tonnes (Mt) | Li2O% Grade | Contained Li2O (kt) | |
Sogola_Baoule | 8.4 | 1.09 | 91.9 | 3.8 | 1.13 | 42.8 | 12.2 | 1.10 | 134.8 |
Ngoualana | 3.1 | 1.25 | 39.2 | 2.0 | 1.12 | 22.1 | 5.1 | 1.20 | 61.3 |
Boumou | 4.0 | 1.02 | 40.4 | 4.0 | 1.02 | 40.4 | |||
TOTAL | 11.6 | 1.13 | 131.2 | 9.7 | 1.08 | 105.3 | 21.3 | 1.11 | 236.5 |
Notes: Mineral resources are reported using a 0.5%Li2O cut-off. Figures may not sum due to rounding. The contained metal is determined by the estimated tonnage and grade.
The Bougouni Project and recently acquired 200km2 Bougouni West project are located in an emerging lithium province that is already attracting the attention of investors and off-take partners interested in securing a long-term supply of lithium. With the support of its strategic investor and off-take partner Suay Chin International Pte, a Singapore-based lithium and chemical trader, Kodal Minerals is well funded to continue its ambitious development programme at Bougouni.
Further to this, Kodal Minerals is the manager of additional lithium and gold projects that are undergoing low cost exploration programmes in addition to JV funded gold properties in Cote d'Ivoire that offer potentially significant long-term value.