The Bougouni Project covers an area of 350km2 and is located approximately 180km south of Bamako, the capital of Mali, and benefits from established infrastructure via a sealed road from Bamako. Bougouni has the potential to host multiple open pit lithium mining operations and a Mining Licence was granted in Q4 2021 ahead of planned mine development. Kodal is now planning the construction phase of the project and is confident of achieving support to finance the project, which has the potential to be the first lithium mine in Mali.
Kodal Minerals’ primary focus is on the development of a mining operation at the Bougouni Lithium Project in southern Mali – an emerging lithium province which has already attracted the attention of investors and off-take partners seeking to secure long-term supply of strategic commodities including lithium.
The Company is currently evaluating the potential to accelerate into production through the development of a DMS processing plant which offers several key advantages over a flotation plant including a significant reduction in capital cost, halved construction period and estimated payback period of two months.
Longer term, the full potential of the project will be realised through the addition of a flotation plant, significantly increasing annual concentrate production, and is expected to be funded by DMS plant cash flows. Further exploration upside potential exists across Kodal’s lithium land-holding, providing an excellent opportunity to further increase the mine life.
The Company also holds a highly prospective suite of gold assets in West Africa. Exploration and resource definition programmes are underway across a number of priority licences in order to deliver a sizeable JORC Resource inventory.