Aim-listed Kodal Minerals has appointed Steven Zaninovich project manager of the company’s flagship Bougouni lithium project, in Mali.
Zaninovich has 25 years’ experience in project management, encompassing all stages of mine development.
His appointment reflects Kodal’s transition into the development phase as it targets initial production at Bougouni in 2020.
Kodal has also entered into a consultancy contract with Zivvo, which is controlled by Zaninovich, for the provision of advisory services.
Zivvo will be issued with 180-million warrants, in three tranches. Each warrant is exercisable into one ordinary share of Kodal and has a life of five years from vesting. If all warrants were to be exercised, Zivvo would have a 2.34% shareholding in Kodal.
“Having declared our maiden resource at Bougouni and moving towards application for a mining licence, now is the perfect time to bolster our team with the engagement of Zaninovich as project manager.
“With a strong team behind us, an exciting lithium project which is delivering consistent high grades and has a scalable Joint Ore Reserves Committee-compliant Resource, a strategic investor and offtake partner secured, as well as a defined development path in place, we believe we are strongly positioned to advance towards our target of first lithium production from Bougouni in 2020,” stated Kodal CEO Bernard Aylward.