23rd Nov 2020 13:32
Kodal Minerals PLC - developing Bougouni lithium project in southern Mali - For six months ended September 30, posts pretax loss of GBP255,259, narrowing from GBP338,574 loss the year prior on a fall in administrative expenses to GBP170,545 from GBP314,118.
Looking ahead, Chair Robert Wooldridge says: "The company maintains its confidence in the future of the lithium market and recognises the increasing support of various governments to provide incentives to accelerate the move towards the electric battery future. Kodal is well positioned to take advantage of the expected increase in demand for battery metals, with lithium being an irreplaceable part of this future."
As at September-end, Kodal had cash of GBP870,000, increasing to GBP1.3 million at October 31 following a fundraise.
Current stock price: 0.078 pence
Year-to-date change: up 95%
By Ife Taiwo; [email protected]
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