Kodal Minerals Share Discussion Threads

[bsg] 13/12/2017 17:51

Probably find the Gov. will keep it for the locals.

[backinblack80] 13/12/2017 16:19

The above article is on Proactive Investors site - Sp Angel today's market view......
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[cyrilsneer1] 13/12/2017 14:31

Cpapman, have you got a link to this? Cheers.

[cpap man] 13/12/2017 12:55

Kodal Minerals* (KOD LN) 0.19p, Mkt Cap £12.1m – Kodal secures 90% of Bougouni mineral licenses in Mali

Kodal Minerals has accelerated payments to secure 90% of its Bougouni mineral licenses in Mali.

The company has rights to explore and to develop minerals within the 250sqm Kolassokoro licence area which included Bougouni.

Kodal has also reached agreement with a further company covering 100sqkm of high-priority ground within the Kolassokoro licence area where by Kodal will hold 90% and the Triumvirat Mining Company SARL, a local company will hold 10% of the assets.

Triumvirat has the right to be free carried through to feasibility study after which it will have to pay its share of costs. Kodal is also paying Triumvirat a fee of around £53,000.

It is interesting to note that Triumvirat, a local Malian company, had managed to stake some ground overlapping Kodal’s mineral licenses in Mali due to an oversight by the registered license holder, EMAS Mining SA, in Mali.

The ‘Malian National directorate of Geology and Mines’ (DNGM) has worked to resolve the matter so that Kodal has maintained its 90% holding in the ground.

We also note, legislation in Mali requires the government to hold a 10% free carry on all mines in the region.

Conclusion: Kodal’s listed status has helped the company to resolve this license issue without any meaningful impediment to its holding. More positively the effective issuance of new licenses on the ground gives the exploration license a longer life span than the older licenses with Triumvirat replacing the 10% stake formerly held by EMAS Mining SA.

*SP Angel act as Financial Advisor and broker to Kodal Minerals. A partner at share price Angel acts as Chairman to the company.

[runthejoules] 13/12/2017 12:01

Can the Chinese please just buy the rest of this for 0.38p now and put us out of our misery?

[mhin2] 13/12/2017 11:36

...a partner company, not the ministry of mines...

[thelung] 13/12/2017 08:26

Banksy - WRONG

KOD had 90% of 250sqm and expect to have 90% of 200sqm. The 50sqm which they may relinquish is non - core.

It's the 10% THAT WILL HAVE CHANGED HANDS not KOD'S 90% interest.

I increased my June 18 spread position at 0.16

[banksy] 13/12/2017 08:20

No tried to buy at lows but couldn't. So effectively until further notice we have given 10% of the company away on an admin error. Wow nice work if you can get it ... stinks of corruption

[runthejoules] 13/12/2017 08:10

Whoah! That should have hit a few stop losses. Did anyone actually manage to buy any more at -50%?

[edgein] 13/12/2017 07:49

Yeah it certainly does explain the selling, depressed price on what are excellent assays to date. Hopefully the department of mines will issue the new exploration licences in a speedy manner as its not directly the company's fault and they're continuing to explore the area regardless. So sounds more like a paperwork issue.

Regards,
Ed.

[waterloo01] 13/12/2017 07:20

Looking back they only paid $160k for the license last year. Maybe with this they should have updated on the main project.

[strongbuy] 13/12/2017 07:15

agreed but at least they seem to have resolved the issue, once the volatility is out the way and the licence secured it could be a decent time to take a position

[waterloo01] 13/12/2017 07:11

Well that's not great. Rather late in the day to realise you don't actually have the rights. Explains the share price

[edgein] 11/12/2017 14:55

Skiboy,

Yes, I'd imagine any day now. We should have multiple drilling updates and assays during this substantial drilling campaign. I'd expect at least 2-3 updates on the drilling before June. Again this is a multi target campaign, KOD did update regularly earlier in the previous campaign.

Regards,
Ed.

[skiboy10] 10/12/2017 22:12

This will be the 7th week of the new drilling programme. We should be getting some results soon?

[waterloo01] 05/12/2017 08:32

Hi Hyper. I've been adding a few.

[skiboy10] 05/12/2017 05:12

Neighbour BGS hit an all time high tonight. Should be our turn before too long.