The long stop date for Kodal Minerals has been extended until 31 May 2023.

Bougouni Lithium Project Funding Package 

Kodal Minerals, a mineral exploration and development company that focuses on gold and lithium assets in West Africa, has announced an extension of the completion deadline for the funding package, which was initially announced on 19 January 2023.

The deadline has been moved from 30 April 2023 to 31 May 2023, to allow for certain conditions precedent to be fulfilled. These include the transfer of the Bougouni Project to a new Mali mining firm owned by Kodal’s recently established UK subsidiary, Kodal Mining UK Limited (“KMUK”), which is still in progress.

All parties involved remain fully committed to completing the funding transaction as soon as possible. Furthermore, Hainan and Xinmao have received all necessary approvals from the Chinese Government authorities to complete their funding and investment, including the “Overseas Project Investment Filing Certificates” from the Hainan Province National Development and Reform Commission (“NDRC”) and Company Overseas Investment Certificate from the Department of Commerce of Hainan Province, as previously reported by the company on 13 April 2023.

The Company will provide further updates on the Bougouni Lithium Project’s funding progress as appropriate.

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