https://www.miningweekly.com

Kodal warns shareholders of limited work on Bougouni this year

7th April 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

As travel restrictions are impacting on Aim-listed Kodal Minerals’ ability to conduct or partake in necessary meetings, the company has advised that it cannot say when its financial and Ministerial review meeting will take place, nor the overall mining licence application process.

The company also advises that it expects field work at the Bougouni lithium project, in Mali, to be limited this year.

Kodal has a budget prepared for work on the project to restart, but this will not be before September.

Kodal is, however, continuing an engineering review and studies focused on improving the proposed mining operation at Bougouni, using internal and external consultants. This workload is also limited and the company has reduced payments to consultants accordingly.

This while the company is reducing corporate overheads and board fees.

Meanwhile, Kodal has decided that a financing facility is needed to provide sufficient monthly funding for the company.

The company entered into a financial facility comprising a subscription for 1.4-million ordinary shares at a price of 0.035p apiece in the company, effectively raising £500 000.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 1.077s - 111pq - 2rq
Subscribe Now