Kodal Minerals’ primary focus is on the immediate exploration and definition of the lithium mineralisation at the Bougouni 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.
A Feasibility Study published in Q1 2020 highlighted the potential for a very robust mining operation with a minimum 8.5-year mine life and a payback period of 1.7 years with an IRR of 58%. The Company received approval for its Environmental and Social Impact Assessment application in Q4 2019 and a Mining Licence application was lodged in Q1 2020. Once the Mining Licence is granted the Company intends to move forward with mine development at Boungouni.
The Company holds a highly prospective suite of gold assets in West Africa. The active joint ventures in Cote d’Ivoire are ensuring that funds are spent advancing exploration on our projects with the potential for new discovery. The Company is continuing to assess and rank the projects it holds directly to determine priorities for further exploration or for ways to deliver value for our shareholders.