31st May 2019 13:26
LONDON (Alliance News) - Kodal Minerals PLC said Friday it is finalising its environmental technical reports for the Bougouni lithium project in Mali, while it has also terminated a bulk sample mining contract.
Shares in Kodal Minerals were 16% lower at 0.095 pence on Friday.
The mineral exploration firm said the technical reports for its Environment & Social Impact Assessment is being finalised and compiled for submission, while community consultation meetings have been completed.
Meanwhile, the bulk sample mining contract for the project was terminated due to the poor performance of the contractor. Concerns identified by Kodal included the lack of experienced technical staff and a lack go focus on safe work practices and environmental awareness.
An engineering review of infrastructure and transport is ongoing, with substantial cost savings identified in the transport estimates. Metallurgical testwork is ongoing, with the focus on starting with a dense media separation plant.
Kodal will also ship 980 tonnes of lithium spodumene material from the Dakar port to China for testing.
Looking ahead, exploration activities have identified further drill targets within the project and at the recently acquired Bougouni West concessions, with drilling expected to start in early June.
"The large amount of technical work that is currently underway represents significant components of our upcoming feasibility study and we are using the most experienced consultants to ensure we achieve the best result. Moreover, the completion of all specialist baseline studies for the ESIA, combined with the completed community consultation, will allow us to finalise our ESIA application and lodge it for approval," said Chief Executive Officer Bernard Aylward.
Related Shares:
Kodal Minerals