Kodal Minerals PLC Update on Bougouni Project Licencing (2373C)
18 January 2018 - 7:30PM
UK Regulatory
TIDMKOD
RNS Number : 2373C
Kodal Minerals PLC
18 January 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
18 January 2018
Kodal Minerals plc ('Kodal Minerals' or 'the Company')
Update on Bougouni Project Licencing
Bougouni Project, Southern Mali
Kodal Minerals plc, the mineral exploration and development
company focussed on West Africa, is pleased to provide this update
on the Company's concessions at the Bougouni Lithium Project in
Southern Mali ("Bougouni" or the "Project").
As announced on 13 December 2017, the Company had filed new
applications in the name of its Malian subsidiary, Future Minerals
SARL, over two new 100 square kilometre licences covering the high
priority areas within the Kolassokoro area. The Company can now
confirm that the applications for the conventions (being the name
of the licences applied for, for the first stage of exploration)
have been approved by the Directorate Nationale de la Géologie et
des Mines ("DNGM", the Malian National Direction of Geology and
Mines) and the Malian Inter-ministerial committee meeting (COMINE).
Official documentation is being finalised and is expected to be
received by the Company very shortly. As previously announced, the
Company will grant Triumvirat Mining Company SARL a 10 per cent.
economic interest in the new licences. The new licences will have
an initial life of three years and be eligible for two extensions
each of a further two years.
Kodal confirms that all key target areas and prospects within
the Bougouni Lithium project are retained within concession areas
that the Company has full and exclusive rights to explore and
operate.
Kodal is continuing its enquiries with DNGM regarding the
Kolassokoro licence that had previously been issued to EMAS Mining
SA ("EMAS") and in which the Company had a 90 per cent economic
interest. The Company is awaiting a definitive response, but it
seems that, with the award of the conventions over this same ground
as described above, the original licence is considered by DNGM to
have expired. The Company is continuing to determine the status of
the agreement with EMAS and any future obligations Kodal Minerals
and/or EMAS have under it. Further updates in this regard will be
provided in due course.
**ENDS**
For further information, please visit www.kodalminerals.com or
contact the following:
Kodal Minerals plc
Bernard Aylward, CEO Tel: +61 418
943 345
Allenby Capital Limited, Nominated
Adviser Tel: 020 3328
Jeremy Porter/Nick Harriss 5656
SP Angel Corporate Finance LLP,
Financial Adviser & Broker Tel: 020 3470
John Mackay/Laura Harrison 0470
St Brides Partners Ltd, Financial
PR Tel: 020 7236
Susie Geliher/Megan Dennison 1177
This information is provided by RNS
The company news service from the London Stock Exchange
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