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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 Shares Traded Last Trade
  -0.0025 -3.33% 0.0725 77,057,590 08:20:53
Bid Price Offer Price High Price Low Price Open Price
0.065 0.08 0.075 0.0725 0.075
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -0.63 -0.01 8
Last Trade Time Trade Type Trade Size Trade Price Currency
15:28:55 O 2,500,000 0.072 GBX

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DateSubject
25/10/2020
08:20
Kodal Minerals Daily Update: Kodal Minerals Plc is listed in the Mining sector of the London Stock Exchange with ticker KOD. The last closing price for Kodal Minerals was 0.08p.
Kodal Minerals Plc has a 4 week average price of 0.07p and a 12 week average price of 0.04p.
The 1 year high share price is 0.17p while the 1 year low share price is currently 0.02p.
There are currently 11,464,229,052 shares in issue and the average daily traded volume is 68,256,702 shares. The market capitalisation of Kodal Minerals Plc is £8,311,566.06.
30/9/2020
10:52
noirua: Kodal looks to lithium production in rising price environment BUY News that Sinohydro are looking at financing and engineering the developing Kodal’s Bougouni lithium project is great news for the company. The MoU between Sinohydro and Kodal gives Sinohydro a six-month exclusivity to complete its review and close a financing package for the mine. Sinohydro are working with Suay Chin and Shandong Ruifu who process spodumene concentrate into lithium products in China. Eranove a French electricity producer has locked in Sinohydro as the site constructor for the Kénié hydropower project in Mali which could provide green energy to Kodal in future years to meet the drive for environmental production. Lithium: demand for lithium is rising in China with sales of electric vehicles continuing to grow market share. New NMC811 batteries with greater range and faster charging capacity are likely to drive further demand particularly for SUVs and larger EVs. The European Commission put Lithium onto its critical raw materials list highlighting the vulnerability of new European battery manufacturing to Chinese supply as the Trade war tensions between the US, China and Europe ramp up. We see lithium carbonate prices rising with new battery manufacturing output as the world emerges from the COVID-Crisis with lithium prices likely to double from here over the next few years. Kodal minerals will hopefully start production into rising prices. Forecast payback period of 1.7 years; IRR of 58% (51% post tax). Pre-tax Project NPV7% of approximately USD$300m (NPV7% USD$200m post-tax). We see significant potential for a supply squeeze with the potential for European battery factories being squeezed out of a number of critical raw materials particularly due to Europe’s lack of processing capacity. Kodal Minerals is fortunate to have a high-grade lithium in spodumene project in a mining friendly region. The lithium concentrate from Bougouni has been demonstrated to be suitable for the furnaces at Shandong Ruifu making this a preferred project from a Chinese perspective.
09/9/2020
10:30
the chairman elect: Kodal Minerals* (KOD LN) – 0.08p, Mkt cap £8.9m – Kodal looks to lithium production in rising price environment BUY News that Sinohydro are looking at financing and engineering the developing Kodal’s Bougouni lithium project is great news for the company. The MoU between Sinohydro and Kodal gives Sinohydro a six-month exclusivity to complete its review and close a financing package for the mine. Sinohydro are working with Suay Chin and Shandong Ruifu who process spodumene concentrate into lithium products in China. Sinohydro is already busy in Mali focussed on green energy, hydropower and construction. The Chinese parastatal company is also rebuilding the airport in Mali, building roads and working on a drinking water project to the town of Bougouni. The company is also busy working on a hydro project in Guinea while mining in South America. Eranove a French electricity producer has locked in Sinohydro as the site constructor for the Kénié hydropower project in Mali which could provide green energy to Kodal in future years to meet the drive for environmental production. Lithium: demand for lithium is rising in China with sales of electric vehicles continuing to grow market share. New NMC811 batteries with greater range and faster charging capacity are likely to drive further demand particularly for SUVs and larger EVs. The European Commission put Lithium onto its critical raw materials list last week highlighting the vulnerability of new European battery manufacturing to Chinese supply as the Trade war tensions between the US, China and Europe ramp up. Auto manufacturers fear that China will Prices for Lithium carbonate at US$4,965/t are unsustainably low causing some mines to reduce production and work off stockpiles. We see lithium carbonate prices rising with new battery manufacturing output as the world emerges from the COVID-Crisis with lithium prices likely to double from here over the next few years. Kodal minerals will hopefully start production into rising prices. Bougouni key stats: Production 220,000tpa of 6% spodumene concentrate over an initial 8.5 years Recovery of 71% of contained lithium Total revenues >USD$1.4bn assuming a concentrate sale price of $680/t starting H2 2021 and rising 2%pa Throughput 2mtpa with DMS and conventional flotation circuit. Recoveries are acceptable with the DMS on its own. C1 cash costs of USD$431/t (USD$466/t inc royalties and sustaining capital). Capex USD$117m est. plus contingency: Forecast payback period of 1.7 years; IRR of 58% (51% post tax). Pre-tax Project NPV7% of approximately USD$300m (NPV7% USD$200m post-tax). Conclusion: The move by the European Commission to place lithium on the critical raw materials list indicates how concerned European auto manufacturers are to be sure of secure lithium supply. We see significant potential for a supply squeeze with the potential for European battery factories being squeezed out of a number of critical raw materials particularly due to Europe’s lack of processing capacity. China Inc is very quick to secure mine supply for its mineral processors and to do what it can to tighten its dominance in these markets. Kodal Minerals is fortunate to have a high-grade lithium in spodumene project in a mining friendly region. The lithium concentrate from Bougouni has been demonstrated to be suitable for the furnaces at Shandong Ruifu making this a preferred project from a Chinese perspective. *SP Angel act as financial advisor and broker to Kodal Minerals
07/9/2020
12:41
bidmsa: ALL OUT NOW Kodal Minerals PLC (LON:KOD) has been informed that all the shares issued under the equity sharing agreement with Riverfort Global and YA II have now been sold. As a result Kodal has received total cash proceeds of £654,000. An additional £100,000 has also come in from the exercise of warrants. There are no further payments to be made or received or shares to be issued pursuant to the equity sharing agreement. The success of the agreement is in part due to Kodal’s strong recent share price. The company has said it believes the share price strength is due principally to the announcement of its recently announced memorandum of understanding with Sinohydro in respect of the Bougouni lithium project in Mali.
01/9/2020
13:36
the chairman elect: The share price Angel share price target for KOD was 0.50 but this is now likely to be reviewed UPWARDS perhaps to 1p+
08/6/2020
10:53
cpap man: Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining 8 June 2020 Kodal Minerals plc ('Kodal Minerals' or the 'Company') Response to Share Price Movement Kodal Minerals plc (AIM: KOD) notes the recent increase in the Company's share price and is not aware of any company-specific reason for this. However, the Company notes recent pronouncements about the level of investment in the electric vehicle and battery markets, which are the principal driver of demand for lithium, with Europe attracting EUR60 billion of investment in the last year and also the German government's announcement of an increase in subsidies for purchases of electric vehicles. The Company refers shareholders to its announcement on 28 May 2020 which provided an update on the current status of the Company's Bougouni lithium project and its gold exploration assets. For further information, please visit www.kodalminerals.com
28/5/2020
10:30
cpap man: Kodal Minerals* (KOD LN) – 4p, Mkt cap £4.4m – Kodal awaits approval to start mining (Kodal holds 100% of Nangalasso and Dabakala. Kodal currently holds 90% of the Bougouni Lithium project, this will adjust to 81% when the Mali government 10% free carry is applied) Kodal Minerals report that the Ministry of Mines and Petroleum in Mali has accepted the Bougouni Lithium Feasibility Study The Ministry also confirms that no further technical or financial meetings are required prior to approval of the mining license. The new Mining License area and new permit boundaries are also agreed along with the proposed areas for mining and associated infrastructure. COVID-19 restrictions have impacted the approvals process making the timing of the mining license approval less certain. Gold projects: Kodal has a number of gold prospects in Mali and the Ivory Coast which are attracting interest from investors and other exploration and development companies. Management have worked up a strategy for further exploration at Nangalasso in Mali and Dabakala in Cote d'Ivoire. Both prospects offer interesting potential based on drilling at Nangalasso and surface geochemistry at Dabakala. Nangalasso has a 5,500m strike length and covers three concessions covering 310sqkm with: 21m at 1.25g/t gold, including 3m at 7.1g/t gold 3m at 7.84g/t gold including 1m at 13.5g/t gold (eoh) 1m at 7.8g/t gold. The Nangalasso geological model is based on the Sissingue’s deposit which is located just 30km to the south. The district also contains the Syama, Tongon and Sissingue mines. We have previously visited the Syama and Tongon mine sites. Dabakala is at an earlier stage with a new gold anomalous zone discovered extending over 8km within a 300skqm concession. Conclusion: Kodal is just a step away from receipt of its mining license in Mali. The approvals to date indicate strong support for the project within the government. We expect significant new demand for lithium concentrates as new battery manufacturing ramps up to match the €60bn of capital investment planned for the Electric Vehicle sector in Europe. Kodal’s ongoing support from its partners should give the company a head start on many other lithium projects. The partners have confirmed the metallurgical properties of the concentrate from Bougouni and we believe they should be keen to press ahead and build the project. Ongoing interest in the other gold projects indicate potential for further discovery, joint venture propositions and potential asset sales. *SP Angel acts as broker and financial advisor to Kodal Minerals
28/5/2020
06:55
cpap man: Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining 28 May 2020 Kodal Minerals plc ("Kodal Minerals" or the "Company") Company Update on the Bougouni Lithium Project and Gold Exploration Projects Kodal Minerals, the mineral exploration and development company, is pleased to provide this update on the progress of the Bougouni Lithium Project ("Bougouni" or the "Project") Mining Licence application in Mali. In addition, the Company provides an update on its gold exploration properties in Mali and Cote d'Ivoire. Highlights: Bougouni Lithium Project · Kodal informed that the Feasibility Study accompanying the Mining Licence application has been accepted by the Ministry of Mines and Petroleum · The Ministry of Mines and Petroleum confirmed that no further COMINE technical and financial meetings are required prior to Mining Licence approval · The Directorate Nationale de la Géologie et des Mines ("DNGM") has agreed the new Mining Licence area and new permit boundary that encompasses all resources and the proposed mining and associated infrastructure area · Kodal still awaiting formal issuance of final Mining Licence documents and notes that the COVID-19 restrictions have impacted on the Mali Government's process and timing of delivery cannot be confirmed. Gold Exploration Project Review · The gold assets in Mali and Cote d'Ivoire have attracted interest from investors and other exploration and development companies · The portfolio of gold assets has been maintained in good standing, and the tenure has been refreshed where possible · The projects have been reviewed by our geological team and a strategy for further exploration has been developed for the Nangalasso project in Mali and the Dabakala project in Cote d'Ivoire · Nangalasso project review has highlighted a 5,500m gold anomalous trend with intersections including 21m at 1.25g/t gold, including 3m at 7.85g/t gold · Dabakala project has an extensive surface geochemical anomaly extending for 8km in strike length in a new region with classical Birimian gold geological setting and structures. Bernard Aylward, CEO of Kodal Minerals, remarked: "The acceptance of the Feasibility Study, submitted in support of the Mining Licence application, by the Mali Governments is a reflection of the level of detail supplied and incorporated into the study and supports our belief in the economic potential of the project. The Mali Government continues to be very supportive of the development of a lithium mining industry in Mali, and the progress of our permitting reflects the governmental support Kodal has received. Although an exact timeline cannot be given for the final approval of the Mining Licence application, our communication with the Government will continue regularly and we will keep shareholders updated with our progress. "Kodal's gold projects have continued to attract interest in light of the ongoing strength in the gold price and recognition of a high quality land position in the world class Birimian sequence of West Africa. We have maintained our landholding in Mali where our priority Nangalasso project is located adjacent to the Syama Gold mine, and just 30km to the north of the Sissingue Gold mine. Preliminary exploration has been undertaken at Nangalasso, returning very encouraging intersections over an extensive strike length and follow-up exploration is being developed. In Cote d'Ivoire we have recently renewed licences and at our Dabakala project we expect to undertake infill geochemical sampling to define new drill targets. "This continues to be an active time for Kodal as we prepare for the granting of the Bougouni Lithium project mining licence and we have the opportunity to advance the exploration on our gold assets to enhance the long term value for the Company."
08/4/2020
14:43
skiboy10: Kodal Minerals puts financing agreement in place Kodal has several years of experience operating in Mali Kodal Minerals PLC - Kodal Minerals PLC (LON:KOD) is raising new money via a financing agreement with Riverfort Global Opportunities PCC Limited and YA II PN Ltd. The company has limited working capital and, therefore, the board has determined that the financing facility with Riverfort is in the best interests of the company and shareholders. Although the monthly payments to the company under the facility are variable, it is expected to provide sufficient monthly funding for the company to operate at the limited capacity and reduced budgeted costs it has outlined previously. Riverfort and YA have subscribed for 1.4bn Kodal shares at a price of 0.035p, raising £500,000. The subscription proceeds will be used immediately to satisfy the company's obligation to pay £500,000 to the investors to enter into an equity sharing agreement, under which the Investors shall make monthly cash payments to the company for a period of 12 months. Kodal Minerals continues to pursue its mining licence application and the company has maintained communication with the Mali government to determine when the next meeting will be called to complete the Financial and Ministerial review. Kodal has completed all information to be submitted. The government of Mali has restricted international travel and closed its borders to people travelling from countries with coronavirus infection. In light of the travel restrictions, the company said it cannot at this stage provide guidance for the timing of the meeting or the overall mining licence application process. The company has also announced that directors will be paid in shares rather than cash for all fees owing over the past six months. https://www.proactiveinvestors.co.uk/companies/news/916775/kodal-minerals-puts-financing-agreement-in-place-916775.html
30/1/2020
11:40
cpap man: Kodal Minerals* (KOD LN) 0.065p, Mkt Cap £6m – MOU signed with Mali Lithium to explore synergies of Bougouni Lithium project In a rare case of common sense Kodal Minerals reports it has signed an MOU with Mali lithium to explore synergies of the Bougouni Lithium project in Mali. A tie-up between the two companies makes great sense due to cost and time savings in the phased and sequenced development of both projects and the sharing of transport and other logistics. The two companies are looking at: Sharing of facilities in the town of Bougouni pre-development to support exploration and fieldwork; Establishing common workshops for servicing, storage and catering (a mine marches on its stomach); Creating common supply chains for spares, reagents, fuel and other consumables; A joint strategy for transport and shipping which are critical and could lead to very substantial savings not to mention the avoidance of logistical problems A joint approach to community development which will again save on costs and probably be more effective overall than two separate community programs. The two companies also intend to negotiate an access agreement for the Bougouni West Project currently owned by Kodal Minerals through the Bamabara option agreement. Questioning of Kodal Minerals Feasibility Study reveals the involvement of DRA, Standing Wave (Red Star Construction), Orelogy, Knight Piésold, and Kodal’s Steven Zaninovich DRA providing oversight and the overall estimate review function for the Feasibility Study. Kodal Minerals Feasibility Study estimates are based on similar projects completed in the region and the experience of Kodal’s Steven Zaninovich Metallurgy, recovery rates and concentrate quality was reviewed by DRA who have experience the design and commissioning of the two Pilgangoora lithium project in Australia run by Altura and Pilbara Minerals. Feasibility Study costs were estimated in Q4 2019 in US dollars and developed on the basis of a mining contractor operation with quotes from AMS Ausdrill, BCM and ETASI, a local Mali contractor. They include: Contract mining costs. Contract grade control costs. Capital works relating to establishing mining operations. Owners mining costs. The timetable for initial concentrate in 2021 looks tight and is dependent on funding solution. Permits: Kodal has an Environmental permit and Community development plan approval which has been submitted with Mining License application. The company will also need licenses for Water abstraction from the Baoulé river, camp construction and more routine items like: radio licence, fuel storage, solid waste management, land fill, explosives, chemical storage, power production, etc. Consultants are to be used for the permitting of trucking through Mali and the Ivory Coast. We expect the company to review the road route from a safety perspective due to the very large tonnage to be hauled to the San Pedro port. Duties include Mali export clearance at €3.00/t and border crossing at €3.50/t all of which are included in the transport cost estimate. Funding: Discussions are ongoing with Kodal’s Chinese partner who have expressed interest in working with Kodal on the plant and other items… Lithium price assumption: Kodal used US$680/t for the Feasibility study following a review of operating companies, other proposals and industry review. We agree current price for Spodumene concentrate of $480-550/t for 5-6% Li2O min should improve though it is normal for Feasibility Studies to be run at prevailing price levels with scenario valuations at differing prices. Conclusion: Combining the two lithium projects should create a new centre for lithium mine production and could offer potential for further processing and value addition in Mali. Trucking spodumene concentrate to the port of San Pedro should create early cash flow to get the mine’s stated while stakeholders consider the potential for further processing in Mali or in the Ivory Coast. *SP Angel acts as Financial Adviser and broker to Kodal Minerals A partner at share price Angel acts as Chairman to the company.
27/1/2020
11:10
cpap man: Kodal Minerals* (KOD LN) 0.05p, Mkt Cap £4.4m – Bougouni Lithium Feasibility Study shows interesting economics Kodal Minerals reports today on its Feasibility Study for the Bougouni Lithium project in the south of Mali. The feasibility study is necessary for submission with the mining license application in Mali as it is in most other sophisticated mining countries. The proposed Bougouni currently shows a 8.5year mine life Production - 220,000tpa av. Spodumene concentrate - 6% Recovery rate 71% Concentrate freight costs $93.60/t – this is based on quotes for road haulage to the port of San Pedro in Ivory Coast which is a shorter and simpler distance that the port of Abidjan, a distance of Distance 880km by road. Life of Mine production 1.94mt of concentrate Throughput 2mtpa. - process plant uses a conventional flotation circuit to maximise spodumene recovery C1 cash costs est. USD$431/t conc Cash cost including royalties and sustaining capital USD$466/t CAPEX est. US$117m plus contingency Capital expenditure may reduce on further optimisation of the mine, plant, infrastructure and mine scheduling Current project design works on 16mt of ore within the reported 21mt resource First production of spodumene concentrate forecast for H2 2021 depending on financing, the mining license and permission to run trucks through the Ivory Coast to the port of San Pedro Price assumption $680/t initially increasing 2% year-on-year “The estimate for revenue is based on a year-on-year estimated sliding scale lithium selling price for a 6% concentrate, Free on Board at the Port of San Pedro in Côte d’Ivoire.̶1; Eg. including the cost of delivery at the sellers expense to a specified point. The current price for Spodumene concentrate is reported at $480-550/t for 5-6% Li2O min, cif in China. Spodumene prices were last at $680/t FOB over a year ago. If we assume a cost of around $40/t to China this indicates a price of $465/t for Kodal’s concentrate delivered in China. Conclusion: While we are impressed by the detail and presentation of Kodal’s Feasibility Study but are concerned at the lack of named consultants or apparent third-party verification on the given numbers. The study appears to have been produced for the application of the mining license in Mali and may require significant further work and verification for Western project finance approval. We note the statement refers to a degree of conservatism in the company’s financial modelling based on assumptions that were made for the study before better results came in from laboratory testwork. Kodal’s study may also have the benefit of following on from work done by Mali Lithium on its nearby Goulamina spodumene project. The Kodal estimates may be subject to amendment on the development of a full Definitive Feasibility Study using firm quotes from contractors for financing purposes. *SP Angel acts as Financial Adviser and broker to Kodal Minerals A partner at share price Angel acts as Chairman to the company.
Kodal Minerals share price data is direct from the London Stock Exchange
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