Kodal Minerals Share Discussion Threads

[cpap man] 23/7/2018 10:00

KOD SHAREHOLDER WEBCAST [see this mornings RNS for further details]

[polysale] 18/7/2018 15:54

BGS - PFS Roadshow Presentation

[cpap man] 16/7/2018 11:15

Kodal Minerals* (KOD LN) 0.132p, mkt cap £10.2m – Drilling results from Sogola-Baoule and Boumou

Kodal Minerals reports further drilling positive results from its lithium exploration programme in Mali where drilling has now confirmed that mineralisation in the Sogola-Baoule prospect extends over a strike length of more than 1400m and shallow mineralisation has been demonstrated over 400m of strike length at the Boumou prospect located v3.5km northeast of Sogola-Baoule.

Although assay results are awaited for a further 15 drill holes at Sogola-Baoule, the results received so far and the initial geological interpretation “confirms the continued intersections of the pegmatite body, and in places the pegmatite body is significantly wider indicating a convergence of structures or structural repetition of the vein.”

Among the results from Sogola-Baoule highlighted in today’s announcement are:
Multiple intersections in BH MDRC087 of 5m averaging 1.99% Li2O from a depth of 84m, 10m averaging 1.02% Li2O from 114m and 14m averaging 1.66% Li2O from 127m depth;
Intersections of 5m at an average grade of 1.52% Li2O from a depth of 77m and of 9m averaging 1.36% Li2O from a depth of 110m in hole MDRC089; and

An intersection of 15m averaging 1.49% Li2O from a depth of 41m in hole MDRC090
At Boumou, drilling from 41 holes totalling 4,597m has “intersected multiple lithium mineralised pegmatite veins … In the southern portion of the prospect, drilling has identified 4 closely spaced pegmatite veins with mineralised widths up to 19m (downhole) that confirm previous reconnaissance drill testing and surface mapping.”

The company comments that “This area requires further drill testing to target the strike extensions and the depth extensions of the veins, and geological review indicates a possible convergence of structures to the west” and that it proposes follow up drilling after the rainy season.

Among the results from Boumou highlighted in today’s announcement are:
A 19m wide intersection at an average grade of 1.40% Li2O from a depth of 69m in hole KLRC105;

An 11m wide intersection averaging 1.58% Li2O from a depth of 39m in hole KLRC108;
Intersections of 6m averaging 1.61% Li2O from a depth of 49m in hole and 7m averaging 1.34% Li2O from a depth of 59m both in hole KLRC120;

An 11m wide intersection averaging 1.55% Li2O from a depth of 41m in hole KLRC121;
Another 11m wide intersection averaging 1.72% Li2O from a depth of 82m in hole KLRC125; and

A 15m wide intersection averaging 1.46% Li2O from a depth of 45m in hole KLRC129
Commenting on the results, CEO, Bernard Aylward said that “We are continuing to push for a rapid development of the Bougouni project and will be undertaking diamond drilling in August at the Sogola-Baoule prospect to gain further metallurgical samples and continue definition of this prospect. In parallel we will be undertaking the maiden resource estimate for the project and conducting preliminary mining optimisation studies”

Conclusion: Kodal is continuing to intersect wide lithium bearing pegmatites in its drilling. We look forward to the remaining assay data and to the maiden mineral resource estimates and the findings of the mining optimisation work as they become available.

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

[cpap man] 16/7/2018 08:30

Bernard Aylward, CEO of Kodal Minerals, said: "We are very pleased that the encouraging assay results for the Boumou prospect are confirming our geological interpretation. This prospect is continuing to develop, and we have a northern zone of pegmatite veins defined for over 400m, and in the southern portion of the prospect we have multiple mineralised veins that remain open along strike. This is very positive for the economic potential of this area and is now our third advanced prospect.



"The Sogola-Baoule prospect continues to return strong mineralisation, and the strike length of 1,400m is very encouraging for significant mineralisation to be defined here. This field season has allowed us to complete a large amount of drilling, with a focus on the Ngoualana, Sogola-Baoule and Boumou prospect to support our resource estimates.



"We are continuing to push for a rapid development of the Bougouni project and will be undertaking diamond drilling in August at the Sogola-Baoule prospect to gain further metallurgical samples and continue definition of this prospect. In parallel we will be undertaking the maiden resource estimate for the project and conducting preliminary mining optimisation studies. We are entering a very exciting phase for the Bougouni project and we look forward to reporting further over the next few months".

[edgein] 16/7/2018 07:52

Looks like BA is looking for a mammoth resource and a well defined one when the JORC comes out to make it easier to obtain funding. They now have 3 advanced projects for development all in the one area. Mt is likely to be quite large and grades remain excellent. I guess we'll find out just how large this JORC is in the next few months. They've drilled so many holes and are waiting for so many assays I've now lost count to have many metres these fellas have drilled, its a lot!

"We are continuing to push for a rapid development of the Bougouni project and will be undertaking diamond drilling in August at the Sogola-Baoule prospect to gain further metallurgical samples and continue definition of this prospect. In parallel we will be undertaking the maiden resource estimate for the project and conducting preliminary mining optimisation studies. We are entering a very exciting phase for the Bougouni project and we look forward to reporting further over the next few months".

Regards,
Ed.

[dingo75] 16/7/2018 07:36

100m pounds

[thelung] 16/7/2018 07:24

August is a bit early to restart drilling?

Resource estimate needs more meat on the bone, in terms of date guidelines and prospects inclusion. I hope to be wrong but it will probs be Oct and just on Ngou to start with.

[cpap man] 04/7/2018 11:00

Lithium sell-off is 'overdone' — Goldman Sachs

The sell-off in lithium equities this year is ‘overdone̵7;, according to Goldman Sachs as investor concerns about a wave of supply of lithium from new mines are unfounded
The bank believes it will be harder to develop new lithium mines than most people think, and demand for lithium could rise fourfold by 2025 due to rising sales of electric cars

‘Coupled with ongoing rising demand expectations as auto OEMs look to electrify their fleets, we expect lithium markets to remain sufficiently tight to handsomely reward incumbent producers,’ Goldman says

[cpap man] 04/7/2018 10:55

Birimian Limited (BGS AU) A$0.54/sh, Mkt Cap A$124.5m – Goulamina maiden lithium reserve and pre-feasibility update

Birimian Limited reports a probable ore reserve estimate of 31.2mt at an average grade of 1.56% Li2O for its Goulamina lithium project in southern Mali. The company has also updated its pre-feasibility analysis to demonstrate the economic viability of project development.

The progress at Golamina underlines the region’s potential as a future source of spodumene concentrates for the lithium industry.
The reserve, which was prepared by Cube Consulting in accordance with the requirements of the JORC Code (2012), is derived from the indicated part of the resource estimate of 43.7mt at an average grade of 1.48% Li2O. Goulamina contains, in addition, an inferred resource of a further 59.5mt at a grade of 1.21% Li2O.

The key underlying parameters to the reserve estimate, which uses a nil cut-off grade to reflect the planned “whole of ore mining methodology”, are a life-of-mine average recovery of 70.4%, a 6% concentration of Li2O at average life-of-mine C1 cost of US$281/tonne of concentrate. The estimate assumes an average selling price of US$666/t of concentrate, implying a cash margin of around 58% or US$385/tonne of concentrate.
The company has also published updated pre-feasibility level results which show that a 2mtpa open-pit mining operation producing an average 362,000tpa of 6% Li2O concentrate over 16 years generates a post-tax NPV10% of US$690m from a total capital investment of approximately US$200m, including US$33m of contingency.

The pre-feasibility study indicates a project pay-back of 2.6 years and the company indicates that there is scope to further expand the mine life, or presumably to increase production rates, through the expansion of the reserve base through additional drilling.

Graphical data shows that the project NPV is most sensitive to the assumed spodumene price closely followed by the mineral recovery rate as key determinants of value. Lower sensitivity is generated by changes to operating costs and to capital expenditure.

Conclusion: Goulamina shows a robust project at the pre-feasibility level and further, more detailed study may well identify potential project enhancements while continuing drilling may expand the current 31mt reserve base of the project

[edgein] 03/7/2018 09:14

TheLung,

Agreed chap, KOD have super assets that just keep getting bigger and bigger on every round of assays. Can't wait to see how they compare to BSG in terms of tonnage and scoping/PFS.

Regards,
Ed.

[thelung] 03/7/2018 08:42

TBH Ed, I didn't know what to take from it except that the project has obviously been mooted to Middle East investors.

Looking forward to BGS revised PFS this evening.

Have a skim through TSI results from yesterday as there's some references to BGS / KOD / TSI lith assets as being within a world class Provence.

[edgein] 03/7/2018 08:05

TheLung,

Interesting find, you think that these Ventures Middle East company are providing management consultancy services to KOD for the development of the lith assets? Seems that way. Wouldn't be tracking the future development of the project otherwise I guess.

Regards,
Ed.

[datait] 02/7/2018 09:23

Just bought 3m thought I should take a we gamble here after all my profits from UKOG and PMO

[polysale] 02/7/2018 09:11

From our neighbours BGS
Trading halt

Maiden Ore Reserve and findings of the updated pre-feasibility study of the Goulamina Lithium Project.

REQUEST FOR TRADING HALT (ASX CODE: BGS)
Pursuant to Listing Rule 17.1, Birimian Limited (Company) requests a trading halt in the Company’s securities
listed on the ASX, effective at the commencement of trade on Monday, 2 July 2018.
In accordance with Listing Rule 17.1, the Company provides the following information:
(a) The Company seeks the trading halt pending announcement (Announcement) of a maiden Ore Reserve and
the findings of the updated pre-feasibility study of the Goulamina Lithium Project.
(b) The Company requests the trading halt continue until the earlier of the Company releasing the anticipated
Announcement or the commencement of normal trading on Wednesday, 4 July 2018.
(c) The Company is not aware of any reason why the trading halt should not be granted, or of any other information
available at this stage that is relevant to the trading halt.
If you have any further questions, please do not hesitate to contact me.
Yours faithfully
Greg Walker
Executive Director and CEO

[cpap man] 29/6/2018 11:45

Birimian Limited (BGS AU) A$0.54/sh, Mkt Cap A$123m – Goulamina lithium resource estimate doubled exceeds 100mt

Birimian Limited reports that, as a result of identifying an inferred resource of 35.2mt at an average grade of 1.14% Li2O at the Danaya prospect, the overall resource for its Goulamina lithium project in Mali, at a nil cut-off-grade, is now 103.2mt at an average grade of 1.34% Li2O.

Approximately 42% of the overall resource estimate is classed as inferred and is located within the Main, West and Sangar 1 and 2 structures. We note that the estimated average grade of the indicated resource, at 1.48% Li2O, is markedly higher than the 1.2% average for the inferred portion of the resource.

The Danaya resource area lies to the southwest of the previously reported resources and contains more than 12 near-vertical individual pegmatite structures of which 9 have been included in the current resource estimate. The company notes that all the pegmatites drilled to date “remain open to the north, south and at depth”.

The company also considers that “it seems likely that at least some of the pegmatites intersect or coalesce with the Sangar I or Sangar II pegmatites at their northern extents”.

Relatively deep weathering occurs over parts of the Danaya area and although the pegmatites crop-out at the surface in the central part of the zone “weathering has been intersected down to a depth of 75m in the northernmost section. Weathered pegmatite has been excluded from the resource estimation because metallurgical testwork has yet to be conducted on this material.”

We note that in April 2018, Birimian Limited reported a doubling of the mineral resource estimate for Goulamina to 65mt at an average grade of 1.43% Li2O from the June 2017 estimate of 32.9mt at a grade of 1.37% Li2O.

Commenting on the latest resource increase, which he described as “meaningful221;, CEO, Greg Walker, pointed out that it provided the company with “flexibility as we also assess the Main, West and Sangar zones, which will form the basis of the initial pit design for the Project.”

Mr. Walker went on the say that “Additional drilling will be required to provide a more detailed understanding of the true potential of Danaya. The Company is planning a further campaign after the current rainy season ends in Mali.”

Conclusion: Mineral resource tonnages at Goulamina have more than trebled during the last year without impairing the grades. The deposit contains multiple mineralised structures and remains open laterally and at depth which may also offer potential for further resource growth as drilling proceeds again after the end of the wet season.

[edgein] 27/6/2018 13:55

yes if they cross over 30% they have to bid, they can increase to 29.99% though without a problem. I won't take less than £30m as a bid at present and likely multiples of that after JORC and scoping study.

Regards,
Ed.

[eyerishmann] 26/6/2018 16:19

so if SC reach a 30% holding they would be required to make a mandatory offer for the whole company?

[cpap man] 26/6/2018 15:50

Kodal Minerals* (KOD LN) 0.135p, mkt cap £9.1m – Receipt of £1.2m from Suay Chin

Kodal Minerals reports that it has now received the previously announced £1.2m additional investment from its principal shareholder, Suay Chin.

The further investment takes Suay Chin’s interest to 29.0% of the company’s enlarged issued capital. As described in the company’s announcement of 11th June, Suay Chin’s additional shares will be “subject to the existing lock-in agreement between the Company, Suay Chin and others under which all of Suay Chin's holding of Ordinary Shares are subject to orderly market restrictions until 12 May 2019.”

The additional investment from Suay Chin is the major part of a £1.5m fundraising announced on 11th June the proceeds of which “will be used to further the exploration and development programme at the Bougouni lithium project in Southern Mali”.”

This exploration is to include additional drilling, the preparation of an initial mineral resources estimate and bulk sampling and metallurgical test work “with the aim of progressing our project as rapidly as possible.”

Conclusion: The additional funding and continuing support of Suay Chin enables Kodal Minerals to press on with the evaluation of the Bougouni lithium project. We look forward to further progress reports as the programme evolves.

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

[edgein] 26/6/2018 13:04

Hyper,

Don't quote me but I think DA over at SAV is sending the bulk sample to Oz rather than China. So the answer to your question is no. I think all SAV's lab work is done in Oz and Germany springs to mind too. Ged on the SAV thread would probably know.

Regards,
Ed.