2nd Jun 2023 11:20
Kodal Minerals PLC - London-headquartered West Africa-focused lithium and gold-focused exploration and development company - On Wednesday said final assay results at Bougouni lithium project confirm high-grade mineralisation with additional high-grade lithium mineralised intersections at the Boumou, Bougouni South and Ngoualana prospects. Boumou is a high-priority target for further drilling to extend and define pegmatite bodies and allow for new resource estimate. Company also confirms further extension to June 30 of deadline for completion of funding package announced on January 19, agreed with Kodal Mining UK Ltd, Hainan Mining Co Ltd and its UK subsidiary Xinmao Investment Co Ltd. Hainan had agreed to acquire 51% of Kodal Minerals for USD100 million plus USD17.75 million equity subscription at 0.5p per share. Original deadline was April 30, first extended to May 31. Conditions still not yet satisfied include the transfer of Bougouni to a new Mali mining company owned by Kodal Mining. Read More