Kodal Minerals

Kodal is focused on the development of the Bougouni Lithium Project in Mali with construction now well advanced and production scheduled to commence in 1st quarter of 2025. Kodal's objective is to become the first UK listed producer of lithium concentrate. The Mali Government has granted both the environmental and mining licenses for Bougouni. Kodal has secured full funding for the project development through the Fosun Group in China, via it's mining focused subsidiary Hainan Mining. The funding will cover the full cost of constructing a conventional DMS facility, capable of producing 130,000 tpa of concentrate. The capital cost is modest at US$65M, generating a pre-tax NPV of $557M based on average product price of $2,080/t. This will be followed by a larger flotation plant to exploit another 10 years of production at Bougouni, fully funded by Hainan and project cash flows. The project will generate over US$2.0bn of revenue over the life of mine.

Management Profile

Bernard Aylward, CEO

Bernard is a geologist with over 25 years’ experience as a manager and exploration geologist in the mining industry in a variety of commodities. Bernard’s experience includes as Managing Director of Taruga Gold Limited from its listing on the ASX, COO of International Goldfields Ltd, GM of Azumah Resources Ltd (Ghana), and Exploration Manager for Croesus Mining NL. Bernard has experience operating in Europe, Siberia, South America and extensively throughout West Africa.

Steven Zaninovich, Engineer

Steven has over 25 years’ experience in project development, construction, commissioning and operations predominantly in West Africa. Steve served as COO with Gryphon Minerals prior to their takeover by Teranga where he assumed the role of VP-Major Projects and completed the BFS and licencing over the Wahgnion Gold Project, now mine, in Burkina Faso. Steve has been involved in feasibility studies, design, construction and operations of various projects in West Africa and Australia, including: Bibiani Gold Mine, Tarkwa Phase IV Gold Project, Akyem Gold Mine, Ewoyaa Lithium Project and the Bald Hill Lithium Mine.

What are your key goals for the next 3, 6 and 12 months?

3 Months

Complete construction and commissioning of the Bougouni Lithium Project in Mali.

6 Months

Start production of lithium concentrate at the Bougouni Mine and generate revenue.

12 Months

From start of production in 1Q25, produce over 125,000 tonnes of lithium concentrate.

What do you think makes your company such a compelling investment?

• Top 10 lithium hard rock spodumene resource in the world.
• Mining licence granted over the project providing the foundation for becoming the first lithium concentrate producer in West Africa.
• Fully funded to production of lithium by first quarter 2025 from Bougouni with a fast-track low capex phase 1 DMS operation.
• Massive exploration potential with target established to increase mineral resource by 50%.
• Phase 2 flotation operation to increase production by a factor of three by 2026/7, funded from cash flow and additional capital injection from project partner Hainan Mining.
• Kodal holds a positive outlook on EV demand and energy storage systems is set to continue and out perform.