Last checked at 23 Aug 2019 13:15
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
23 August 2019
Kodal Minerals plc ('Kodal Minerals' or the 'Company')
Environmental and Social Impact Assessment ('ESIA') Lodged for the Bougouni Lithium Project, Mali
Kodal Minerals, the mineral exploration and development company focused on its Bougouni Lithium Project in southern Mali (the 'Project', 'Bougouni', or the 'Bougouni Project'), is pleased to announce the completion and lodging of the ESIA for the proposed open pit mining and processing operation at Bougouni.
Bernard Aylward, CEO of Kodal Minerals, remarked: "The submission of the ESIA signals the achievement of another significant milestone for Kodal as we continue to focus on the development of the Bougouni Lithium Project. The formal ESIA submission to the Mali Government authorities represents the first critical step in the process of obtaining a Mining Licence.
"The ESIA comprises of an overarching Project review and assessment as well as specialist environmental baseline studies, which have already commenced, and is combined with the community consultation process, which has been successfully completed. The ongoing support we have received from the Mali Government and local community has been very encouraging and demonstrates the significant interest in our Project's development.
"Our focus continues to be on completion of a Feasibility Study that will be key for our application to obtain a Mining Licence at Bougouni. We continue to strengthen our relationship with the Malian administrations, communicating regularly with local communities and authorities, from whom we are receiving excellent support. I look forward to updating shareholders with further developments in due course."
The Company expects to provide an update on the Engineering and Processing Study next week and will also include an update on the expected shipping of the Bulk Sample material currently in Dakar. The Bulk Sample has been fully prepared for shipping and the Company has negotiated with a shipping firm for transport to China, however, the Company is awaiting the arrival of the ship.
Further Information
Environmental and Social Impact Assessment
Kodal Minerals has completed all baseline specialist studies in support of the ESIA submission to the Mali authorities. The ESIA document has been submitted formally in French to the Direction Nationale de l'Assainissement et du Contrôle des Pollutions et des Nuisances ('DNACPN'), the governing administration for environmental matters in Mali.
Following this formal ESIA submission, the DNACPN will send a delegation to the Bougouni site to conduct a standard validation visit, after which the delegation will attend a workshop session with the Company to provide their feedback on the ESIA. Following the incorporation of further material to address any matters raised by the DNACPN in this feedback session, an updated final ESIA submission is tendered, and the DNACPN statutory approval period of 45 days commences.
The Company has maintained close communication with the DNACPN and all relevant groups throughout the period of ESIA report preparation and anticipates no significant issues with the submission. The Company expects formal approval of the ESIA within the legislated timeframe. The Company will provide updates of progress in due course.
**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, 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 placed 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.