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Kodal Minerals Share Discussion Threads
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|Great news, nice of them not to waste recent funds.
"The Company has now determined to withdraw from the planning process so as to avoid expending further management time or incurring additional costs. "
Excellent. This is what I want to hear.
"This is in line with the Company's strategy to prioritise development of its recently acquired high grade lithium projects in Mali and its wider gold portfolio in West Africa. "
I'd expect there's news flow imminent. Similar happened at IRR when they shifted focus, and news on Gold came out within days.|
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
19 October 2016
Kodal Minerals Plc ('Kodal Minerals' or 'the Company')
Update on Kodal Project
Kodal Minerals, the mineral exploration and development company, announces that it has requested a temporary withdrawal from the planning process for its non-core phosphate and titanomagnetite project in Southern Norway (the "Kodal Project"). This is in line with the Company's strategy to prioritise development of its recently acquired high grade lithium projects in Mali and its wider gold portfolio in West Africa.
The Kodal Project was fully impaired by the Company in its financial statements for the year ended 31 March 2015 in response to the dramatic fall in the price of iron ore. The Company was seeking to continue to progress the planning process but was not undertaking any further exploration or development work on the Kodal Project.
The Company has now determined to withdraw from the planning process so as to avoid expending further management time or incurring additional costs. The Company has written to the relevant municipalities requesting a temporary withdrawal from the planning process on the basis that the Kodal Project is not currently economically viable and that this is unlikely to change in the short term. The licences remain valid until July 2023 and the Company may seek to restart the process if the economics of the project improve in the future.
Bernard Aylward, CEO of Kodal Minerals, said: "The excitement around, and potential value of, our recently acquired lithium assets in Mali, combined with the continued low level of the iron ore price, has prompted this pragmatic decision from the Board. We are now directing the majority of the Company's capital and management time towards West Africa and the areas of the business which we believe hold the most near term value for shareholders and we look forward to providing news from this core portfolio of assets in due course."|
|Love this mornings RNS from KOD|
|good stuff. Reward on the way for the brave.|
|hope u bought the dip|
|of course. btfd.|
|buy the dip|
|Master RSI6 Oct '16 - 15:44 - 105 of 105 1 0
After the recent placing at 0.10p it looks like the bottom has been reached and now want to move higher, higher volume buying since yesterday.|
|KOD are looking very good post placing....onwards and upwards!|
|Bernard Aylward, CEO of Kodal Minerals, said: "This area of Cote d'Ivoire has been very under-explored and this exploration confirms our view on the potential of this area to contain gold mineralisation. Although exploration at Korhogo is still at an early stage, our sampling programme has now been completed targeting major geological features, areas of artisanal workings and identified shear zones. We are pleased to have defined four new gold anomalous zones as a result, and follow-up exploration is now required to define these zones and prioritise targets for first pass drilling.
"Our current exploration programme is designed to target our highly prospective Bougouni Lithium projects in Mali having recently raised £750,000 to rapidly advance the project towards JORC compliant status in the near term, however we will also continue to advance our prospective gold projects to unlock the upside potential and ensure we realise value for our shareholders and the exploration expenditure."|
|Excellent RNS out of KOD this morning ref: KOD....Defines Four New Gold Anomalous Zones at Korhogo|
|I would disagree but as always imho. Watch it going up tomorrow.|
|Oh look a discounted placing. Just like I mentioned last week.Not only that, but it's all just defining work, so still a long long way to go yet, and that 750k won't last too long.May go away and come back at 0.03p next year.|
|That's one big discount|
|Good moaning gunner71|
|You obviously know absolutely nothing about the mining business!|
|Lol"reconnaissance" Wow, how about some "drilling" and real results.Not just a wander around and say oh if we tell investors we think we can envisage good stuff below our feet. The market will buy it.Lol.|