---
title: "Kodal Minerals PLC (AIM:KOD) Bougouni Lithium Project"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-04-30T14:03:34+00:00"
modified: "2024-04-30T14:03:34+00:00"
date: 2024-04-30
canonical: "https://www.share-talk.com/kodal-minerals-plc-aimkod-bougouni-lithium-project-2/"
category: "Mining"
categories: ["Mining"]
tags: ["Alphabet", "Amazon", "Apple", "Bernard Aylward", "Bougouni", "CEO", "china", "investment", "KOD", "Kodal Minerals", "Lithium", "marmite", "Meta", "Share Talk", "Small Cap", "Tesla"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/F-4doZgXgAAYDZR.webp?fit=750%2C406&ssl=1"
format: "news"
language: "en-GB"
---

# Kodal Minerals PLC (AIM:KOD) Bougouni Lithium Project

**Published:** April 30, 2024
**Author:** sharetalk
**Categories:** Mining
**Tags:** Alphabet, Amazon, Apple, Bernard Aylward, Bougouni, CEO, china, investment, KOD, Kodal Minerals, Lithium, marmite, Meta, Share Talk, Small Cap, Tesla
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/F-4doZgXgAAYDZR.webp?fit=750%2C406&ssl=1)

---

Kodal Minerals has adjusted the terms for terminating the right of first refusal (ROFR) originally granted to Suay Chin on 80% of the spodumene output from the Bougouni lithium project in Southern Mali.

Previously agreed to be US$14 million, the termination fee payable by Kodal Mining UK (KMUK), which is 51% owned by Hainan Mining, will now be paid in three instalments instead of two.

An initial payment of US$3.5 million has already been made, effectively ending the ROFR and the associated term sheet.

A further US$3.5 million is due within 10 business days following the signing of an offtake agreement between KMUK and Hainan Mining. The final instalment of US$7 million is scheduled within 10 business days of the first spodumene concentrate shipment from Bougouni or by 31 October 2024, whichever comes first.

Kodal also mentioned ongoing negotiations between KMUK and Hainan to secure an offtake agreement for 100% of the spodumene produced at Bougouni.

Any resulting offtake agreement between KMUK and Hainan will be contingent on current market prices for spodumene and must receive explicit written approval from Kodal Minerals as a shareholder of KMUK.

Following these announcements, shares in Kodal increased by 4.6% to 0.46p as of 3:00 p.m.

---

**Original URL:** https://www.share-talk.com/kodal-minerals-plc-aimkod-bougouni-lithium-project-2/
*Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*