Name of the Project
Bougouni lithium project.

Location
The project is located in southern Mali.

Client
Kodal Minerals.

Project Description
A scoping study completed on the Bougouni project has confirmed its outstanding potential.

The study has evaluated the technical and potential economic viability of an openpit mine development at the project’s Goulamina deposit, where a maiden mineral resource of 15.5-million tonnes at a grade of 1.48% lithium oxide (Li2O) has been defined.

Various processing options have been considered to optimise throughput capacity and recoveries. The current preferred option is to develop Goulamina as a one-million-tonne-a-year, high-grade openpit mine to supply material to a conventional dense-media separation plant (DMS) Stage 1.

Scope has been defined to transition the processing plant to treat medium-grained material by DMS and flotation in later years (Stage 2).

Stage 2 will comprise the addition of a 450 000 t/y grinding and flotation concentrator to process fines and secondary DMS floats that contain economic lithium grades from finer-grained spodumene bearing rock. Subject to further detailed studies, the project could deliver average yearly production of about 190 000 t of 6% Li2O concentrate over an initial 13-year life-of-mine.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
Initial start-up capital has been estimated at $47.2-million and includes associated project infrastructure.

Stage 2 capital costs have been estimated at $36.2-million, which could potentially be funded by Stage 1 cash flow.

Duration
Not stated.

Latest Developments
Kodal Minerals has appointed Steven Zaninovich project manager of the company’s flagship Bougouni lithium project.

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, to provide 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 are to be exercised, Zivvo will have a 2.34% shareholding in Kodal.

Key Contracts and Suppliers
Zivvo (consultant).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Kodal Minerals, tel +61 418 943 345.