19th Jul 2022 12:41
Kodal Minerals PLC - mineral exploration and development company focused on lithium and gold assets in West Africa - Pretax loss for the year ended March 31 widens to GBP903,087 from GBP623,370, as share-based payment charges multiply to GBP342,876 from GBP77,979. Administrative expenses rise to GBP540,655 from GBP512,885. Records no revenue as it is still in its exploration and development phase.
Plans to invest in the exploration of its Fatou & Nielle and Dabakala gold projects going forward, following encouraging results from its reverse core drilling campaign. Further, it plans to "de-risk" its flagship Bougouni lithium project in Mali, by further reducing expected operating costs.
"We are in the enviable position of owning 100% of the concessions of what I believe will become one of the most significant lithium spodumene producing projects in West Africa, and the first in Mali," Chief Executive Bernard Aylward adds.
Current stock price: 0.24 pence
12-month change: down 38%
By Abby Amoakuh; [email protected]
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