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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kodal Minerals Plc | LSE:KOD | London | Ordinary Share | GB00BH3X7Y70 | ORD 0.03125P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.015 | -3.23% | 0.45 | 0.44 | 0.46 | 0.465 | 0.45 | 0.465 | 24,693,726 | 15:09:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Nonmtl Minrls, Ex Fuels | 0 | -1.46M | -0.0001 | -45.00 | 91.09M |
TIDMKOD
RNS Number : 4867D
Kodal Minerals PLC
28 October 2020
Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining
28 October 2020
Kodal Minerals plc ("Kodal Minerals" or the "Company")
Loan conversion and change to total voting rights
Kodal Minerals, the mineral exploration and development company, announces that it has received a conversion notice in relation to its US$1.5 million unsecured convertible loan agreement (the 'Loan Agreement') with Riverfort Global Opportunities PCC Limited and YA II PN Ltd (the 'Investors'), details of which were announced on 15 July 2020.
The Investors have elected to convert a total amount of $70,358.92 (equivalent to GBP53,930.11), made up of a principal amount of $70,000.00 and accrued interest of $358.92, into 85,063,264 new ordinary shares of 0.03125p each in the Company ("Ordinary Shares"), at a price of 0.06340 pence per Ordinary Share.
Application has been made for the 85,063,264 new Ordinary Shares being issued to be admitted to trading on AIM and it is expected that admission will take place on or around 2 November 2020 ("Admission").
Total Voting Rights and AIM Rule 17
Upon Admission, the issued share capital of the Company will consist of 11,549,292,316 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 11,549,292,316. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please visit www.kodalminerals.com or contact the following:
Kodal Minerals plc Tel: +61 418 Bernard Aylward, CEO 943 345 Allenby Capital Limited, Nominated Adviser Tel: 020 3328 Jeremy Porter/Nick Harriss 5656 SP Angel Corporate Finance LLP, Financial Tel: 020 3470 Adviser & Broker 0470 Soltan Tagiev, Adam Cowl St Brides Partners Ltd, Financial PR Tel: 020 7236 Susie Geliher/Cosima Akerman 1177
About Kodal Minerals
Kodal Minerals' primary focus is on the rapid advancement towards production of its flagship Bougouni Lithium Project in Southern Mali. The JORC Resource Estimate places the Bougouni Project in the top 15 hard rock lithium projects globally and was calculated using only three of the eight currently recognised prospects demonstrating the significant exploration upside potential remaining across the 450km(2) project area. The Mineral Resource estimate for the Ngoualana, Sogola-Baoule and Boumou prospects are tabulated below. These mineral resources are reported in accordance with the JORC Code:
Prospect Indicated Inferred Total Contained Contained Contained Li(2) Li(2) Li(2) Li(2) Li(2) Li(2) Tonnes O% O Tonnes O% O Tonnes O% O (Mt) Grade (kt) (Mt) Grade (kt) (Mt) Grade (kt) ------- ------- ---------- ------- ------- ---------- ------- ------- ---------- Sogola_Baoule 8.4 1.09 91.9 3.8 1.13 42.8 12.2 1.10 134.8 ------- ------- ---------- ------- ------- ---------- ------- ------- ---------- Ngoualana 3.1 1.25 39.2 2.0 1.12 22.1 5.1 1.20 61.3 ------- ------- ---------- ------- ------- ---------- ------- ------- ---------- Boumou 4.0 1.02 40.4 4.0 1.02 40.4 ------- ------- ---------- ------- ------- ---------- ------- ------- ---------- TOTAL 11.6 1.13 131.2 9.7 1.08 105.3 21.3 1.11 236.5 ------- ------- ---------- ------- ------- ---------- ------- ------- ----------
Notes: Mineral resources are reported using a 0.5%Li(2) O cut-off. Figures may not sum due to rounding. The contained metal is determined by the estimated tonnage and grade.
The Bougouni Project and recently acquired 200km(2) Bougouni West project are located in an emerging lithium province that is already attracting the attention of investors and off-take partners interested in securing a long-term supply of lithium. With the support of its strategic investor and off-take partner Suay Chin International Pte, a Singapore-based lithium and chemical trader, Kodal Minerals is well positioned to continue its ambitious development programme at Bougouni.
Further to this, Kodal Minerals is the manager of additional lithium and gold projects that are undergoing low cost exploration programmes in addition to JV funded gold properties in Cote d'Ivoire that offer potentially significant long-term value.
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(END) Dow Jones Newswires
October 28, 2020 06:38 ET (10:38 GMT)
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