--News Direct--
Kodal Minerals CEO Bernard Aylward joined Steve Darling from Proactive to provide an update on the project development activities at the Bougouni Lithium Project in Southern Mali. The project is fully funded following the completion of a $117.5 million funding transaction. The company reports that the manufacture of the DMS processing plant and crushing circuit is progressing as scheduled, with equipment shipping from China to West Africa expected to begin in early June. Initial shipping of structural steelwork to the project site is also anticipated in June.
Aylward mentioned that a consortium of mining contractors has been mobilized to Bougouni, with site clearing completed ahead of plant construction, which is due to commence in early June. Civil construction contracts have been awarded and are set to start in early June.
Additionally, resource definition and extension drilling are continuing at the project's Boumou prospect, located within the granted mining license. Geological logging of the drill holes indicates continuity of the pegmatite bodies over a strike length of 970 meters. All assay results for the drilling are pending, with 2,128 samples awaiting testing by ALS Global laboratories. The first production of the Bougouni Stage 1 DMS, with a total output of 125,000 tonnes per annum, is on schedule for Q4 2024 and remains within the capital expenditure guidance of $65 million.
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