DYOR....but this is looking promising imvho!



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30 August 2016

Kodal Minerals Plc



("Kodal" or the "Company")



Acquisition of High Grade Lithium Project in Southern Mali



Kodal, the mineral exploration and development company with interests in West Africa, is pleased to announce it has entered into an agreement with Gorutumu Mining SARL ("Gorutumu"), giving Kodal the exclusive rights to explore and acquire a controlling interest in a prospective high grade lithium project in Southern Mali (the "Agreement"). This is in line with Kodal's strategy to identify value accretive strategic mineral opportunities in West Africa.



To view this announcement with the maps included (Figures 1 and 2) please click on the following link: http://www.rns-pdf.londonstockexchange.com/rns/3589I_-2016-8-29.pdf



Highlights

· The Agreement grants Kodal exclusive rights to explore the 250km2 Madina concession in southern Mali ("Madina" or the "Project") (refer Figure 1);

· As part of the Agreement, Kodal has the option to acquire a 90% interest in Madina by completing payments totalling US$140,000 over three annual stages with the initial payment of US$25,000 having been made to Gorutumu;

· Lithium bearing pegmatite units identified in the Project, with initial sampling returning high-grade lithium anomalies (>2% Li2O) (refer Figure 2);

· Historic geochemical sampling has indicated zones of anomalous lithium response associated with known pegmatite and has identified new areas to be reviewed;

· Field review and reconnaissance mapping of pegmatite occurrences to be undertaken immediately - geochemical sampling and prioritisation for drill testing will be completed with the aim of drilling as soon as possible;

· Key targets identified that have potential to advance the Project rapidly with the aim of delineating a mineral resource estimate;

· Lithium has been identified by the Board as a high-value strategic mineral having recently seen strong demand for batteries (electric cars and static storage) and tight supply apply upward pressure on prices;

· Madina is also prospective for gold mineralisation, with previous geochemical sampling returning anomalous gold values - review of exploration work and further follow-up will be undertaken following assessment of lithium potential;



Bernard Aylward, CEO of Kodal Minerals, said: "The market dynamics surrounding lithium are highly compelling, and I am delighted to announce the acquisition of, what I believe has the potential to be, a quality, high grade lithium project with identified priority targets and known mineralisation. The acquisition of Madina is a direct result of our team leveraging its extensive West African experience to identify value accretive opportunities to build a portfolio of quality assets. We now intend to apply our exploration expertise to the Project and rapidly advance it towards proving up a JORC compliant mineral resource. Further news regarding this exploration process, and concurrent work programmes across our gold properties, will be made in due course."


It's all looking very encouraging and perhaps the sp is finally starting to recover.

0.49p +0.05p

nice to see the bounce is now very strong, and there is volume on the rise

0525p +0.0775 (+17.51%)

First Drilling Assays at Bougouni Lithium Project

Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to announce the receipt of the first assay batches for the reverse circulation ("RC") drilling programme at the Bougouni lithium project, Southern Mali.

Highlights

· First drill hole at the Ngoualana prospect has returned 21m at 1.7% Li2O from 62m depth, including a high grade core of 12m at 1.81% Li2O from 69m

· A further seven drill holes from Ngoualana are awaiting assay results, with drilling continuing to intersect a wide (up to 30m down hole) main pegmatite vein and multiple subsidiary and parallel veins

o A strike length of over 250m has been intersected in drilling and remains open along strike

· Drilling at the Sogola prospect has confirmed high grade, near surface mineralisation and intersections include 3m at 1.92% Li2O from surface, including a maximum value of 2.94% Li2O

· Results indicate that at Sogola the pegmatite has split into several narrow veins that remain open at depth and along strike

· Drilling at the Kola prospect has confirmed the pegmatite veins and returned high grade assays up to 2m at 1.94% Li2O

· Kola is a narrow, continuous pegmatite unit that remains open at depth and along strike

o Coarse spodumene has been noted in drilling and this closely relates to the assay results - assay results are pending for the additional two Kola drill holes
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bonkers chart
http://bonker99.com/chartpictures?chart=KOD%20Kodal%20Minerals.png

All looking good imho. onwards and upwards!

S P Angel who are KOD's broker....

Kodal Minerals* (KOD LN) 0.53p, Mkt Cap £27.4m – Bougouni lithium project shows 21m grading 1.7% lithium

Kodal Minerals reports its first batch of drilling samples from its ongoing drilling campaign at its Bougouni lithium in Mali.

The best results out of the first seven ‘RC’ holes out of 18 drilled to be reported using a 1.0% cut-off:

Ngoualana: 21m at 1.7% Li2O from 62m including 12m at 1.81% Li2O from 69m

Sogola: 3m at 1.92% Li2O including 2.94% Li2O - Sogola has a strike length at surface of >300m

Kola: 2m at 1.94% Li2O.

The drill results show the pegmatite veins to be lithium rich with relatively high-grade lithium mineralisation when compared against other spodumene pegmatite veins and lithium producers.

Prices for spodumene concentrate are reported to be around $600/t, with Birimian Limited using an assumed price of $537/t in their scoping study released yesterday.
Of the 328 samples assayed and received the maximum grade returned is 2.92% Li2O with >16% of samples returning values of >1% lithium.

Conclusion: We have to say well done to Kodal. Drilling for lithium in Spodumene pegmatite veins might look like ‘shooting fish in a barrel’ but as anyone who has tried to shoot a fish in a barrel will know, it’s not as easy as it first looks and we know many a geologist who has missed the most ‘obvious’ of targets. It’s even more impressive if the targets are at depth but fortunately for Kodal the targets start at surface and the mineralisation appears to continue to >100m.

The drill ‘truth machine’ has spoken and it looks as if Kodal has a new lithium discovery on its hands.

Observers of Birimian Limited, which published a scoping study on the similarly-named Bougouni (Goulamina) project yesterday will be aware of the potential economic parameters of Birimian’s project. Birimian is to publish a Feasibility study in the June quarter which will give greater definition to and better establish the potential value of the Bougouni project. Kodal may be able to draw similar conclusions for its own lithium prospects depending on the results of this and further rounds of drilling.

KOD 28.25p ( 28/28.50p)

Full retracement done @ 27p time to bounce from here.

Chart done yesterday

0.31p - -0.0275 (-8.15%)

extract from Ubique's 150 upvotes post

" CAPEX requirement to get us started is crazily low. A reputable Chinese firm would be able to sneeze out $47M. Increasing to a 2Mtpa operation would probably only increase the requirement to ~$70M for stage 1. I really like the idea of staging CAPEX as proposed in this study, minimizes risk and dilution to shareholders.

Our mining and processing costs are the lowest in the world. These will only decrease further as the size and grade of the deposit increases plus with the IP and resources of a Chinese mining partner onboard. Refer to cash cost comparison table below:..."

...... Lithium produced from brine is generally in the form of lithium carbonate, I assume, as it is more cost effective and simpler to manufacture. However in order for it to be suitable for battery production, it must meet a certain assay specification, which brine-produced lithium does not meet. The unsatisfactory lithium carbonate is then converted to lithium hydroxide or other lithium salts. This process removes the undesired impurities when the final product is “worked up”. This obviously adds a significant additional cost of goods to the end user of the lithium as the product is essentially being manufactured twice.

Lithium hydroxide can be produced directly from spodumene concentrate, and it can be produced to purities greater than the required battery grade specification.

Https://hotcopper.com.au/threads/positive-scoping-study.3209300/#post-22414004

Last Friday closing Candlestick has formed.........

.........Last Pattern:BULLISH HARAMI

0.345p +0.05p

signs that finally wants to move forward after the recent bottom and up and down around that point

The Chinese are coming.........

Completion of £500,000 Placing, Proposed Off-Take Agreement & Proposed £4.3 million Strategic Investment

Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to advise that is has completed a £500,000 share placing (the "Placing") and entered into an agreement to commence negotiations for an off-take agreement for the future spodumene concentrate produced from its Bougouni Lithium Project, in Southern Mali (the "Project") as well as a potential further investment into the Company of up to £4.3 million (the "Agreement").

Highlights

· Agreement is with Suay Chin International Pte Ltd ("Suay Chin"), a Singapore registered company formed to take advantage of its extensive connections to supply the Chinese lithium market with a range of clients from acid producers to lithium carbonate producers and to the final lithium-ion battery manufacturer.

· Suay Chin has strong support from Shandong Mingrui Chemical Co Ltd, which is a long-term supplier to existing lithium carbonate producers in Shandong Province.

· £500,000 placing completed with Suay Chin at an issue price of £0.003 per share for the issue of 166,666,667 new ordinary shares of 0.03125 pence each in the Company (the "Placing Shares") - representing a 30% premium to the closing share price on the date prior to this announcement.

· The Company and Suay Chin have agreed to commence negotiations immediately for an off-take agreement over 20% of the spodumene concentrate to be produced from the Project, with potential for this to increase to 100% at a later date.

· The Agreement allows Suay Chin a period of 30 days to undertake due diligence on the Company and the Project, including conducting site visits, preliminary metallurgical testing and confirmation of geology.

· Following the due diligence period and if successful, the Agreement contemplates Suay Chin completing a second share placing within a further 15 days (or 30 days with Kodal's consent) to increase its shareholding in Kodal to 20% at a price of £0.0038 per share (expected to result in a further cash investment of approximately £4.3 million) (the "Second Placing"). The price of the proposed Second Placing represents a 65% premium to the closing share price on the date prior to this announcement .

0.295p

Seller on the stock gone with the lot reported on one delayed trade 169M

Pelamis had left ..........169,575,760 - 3.15%
Had almost a retracement of 61.8% 0.2635p considered a bounce point
it bounced from 0.27p once the trade was released

chart done on the 21th

High-Grade Lithium Mineralisation at Bougouni Project Confirmed by Assay Results

Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to announce that initial assay results have been returned from the exploration drilling programme currently underway at the Company's Bougouni Lithium Project in Southern Mali ("Bougouni" or the "Project"). The initial results are from the first-pass drilling at new prospects "Sogola-Baoule" and "Boumou" and confirm high-grade lithium mineralisation within the pegmatite intersections.

Kodal Minerals is also pleased to advise that the potential further investment into the Company of up to £4.3 million by Suay Chin International Pte Ltd ("Suay Chin"), details of which were announced on 10 March 2017, is progressing well. Suay Chin has informed the Company that it has satisfactorily completed its due diligence procedures and the parties are now negotiating the final terms of the investment agreements. Completion of the investment is subject, inter alia, to finalisation of the definitive agreements and further updates will be provided as soon as possible.

Highlights
· Initial assay results have confirmed lithium mineralisation at two new prospects.
· Sogola-Baoule prospect: results received for four of the five drill holes with significant mineralisation including:

o 9m at 1.84% Li2O from 186m;
o 11m at 1.65% Li2O from 131m; and
o 8m at 1.53%Li2O from 117m.
more..........

0.315p +0.0125 (+4.20%)

Large volume by lunch time 90M

I'm still in and have added a few times recently. All looking good and imho.

A hold and wait strategy seems best for now

Holding around this price with ups and downs, but ready to surge soon. Due another exploration update after the last RNS - the rig was finishing up follow-up drilling at the Sagola-Baoule prospect - . Low mcap of £18m

spread 0.28 v 0.29p

buys at 0.286p and sells at o.2825p

level 2 of 2 v 1

Never thought I would get in at these levels again!! So undervalued IMHO.

best of the day @ 0.29p

has been weak of late, but for the last couple days is moving ahead well with volume

0.3075p +0.0325p

rising with volume 105M

No wonder ..... Chairman buying

Director/PDMR shareholding
Kodal Minerals, announces that Robert Wooldridge (Chairman of the Company) has today purchased 26,520,195 ordinary shares of 0.03125 pence each in the Company ("Ordinary Shares") at a price of 0.2825 pence per Ordinary Share. Following this purchase Mr Wooldridge is beneficially interested in 76,938,144 Ordinary Shares representing approximately 1.23 per cent. of the Company's issued ordinary share capital.

After some time of going nowhere last Friday there was another good move up with volume.

more chinese investment at 0.38 by 31st july.. 2nd lot is due at this date.

The Times article here if you don't subscribe.

Until the 1970s, there was limited demand for lithium, the lightest metal. It is used in industrial applications such as ceramics and glass and metallurgy. It is a treatment for mental conditions, such as bipolar disorder. It is a component of nuclear bombs.

Generally, though, in areas such as Cornwall, where lithium seeps out of the ground, it was overlooked for centuries, miners concentating on more valuable metals such as tin. All that changed with the development of the lithium-ion battery, first used in home electronics and now in demand for electric cars. As manufacturers such as Volvo look to phase out the internal combustion engine and Tesla, the Palo Alto carmaker, prepares to roll out its Model 3, the first car to be squarely aimed at the mass market, demand for lithium-ion batteries can only grow, presumably peaking at the time when the internal combustion engine is consigned to history and every vehicle is electric.

Some have wondered whether the planet can produce enough of the metal to keep up with that demand from the automotive industry and whether Tesla and the others are producing cars that eventually will contain no batteries — it plans to make half a million cars next year.

The miners, including four tiddlers quoted on the London Stock Exchange, are scrambling to find new sources and ramp up production. As SP Angel, the broker specialising in mining stocks, said in a note this week: “The race is on for miners to secure their place within the lithium supply chain while lithium processors appear fairly desperate for feedstock at the right quality and the right price.”

John Meyer, an analyst at the broker, plays down fears that we may run out of the metal. “There’s more than enough lithium in the world. It’s getting the whole supply chain up and running. It’s getting enough mines into production.”

The global industry is dominated by an oligopoly of big players who will strive to keep their stranglehold intact. They include the New York-quoted Sociedad Química y Minera de Chile, operating in a country where plentiful supplies of lithium are produced, and another two NYSE companies, Albemarle and FMC. The three are reckoned to account for about half the whole market. For anyone who wants to invest in a lithium boom, the shares are easily traded and can be bought via the usual dealers here.

Two other big operators are Chinese. China is central to the lithium story, Mr Meyer says, because that is where the action is. Processors who refine the metal into the form used in batteries are desperately sourcing new supplies. One Singaporean business that supplies the Chinese chemicals industry and the lithium processors, in particular, is taking a 19.99 per cent stake in one of those four companies on London’s Alternative Investment Market, Kodal Minerals.

This is seeking to produce lithium in Mali, western Africa, with first production expected within a couple of years.

A second, Bacanora Minerals, is seeking to develop its Sonora project in Mexico. A feasibility study is expected by the end of the year. If the project gets the go-ahead, first production could start in 2019.

The third is Savannah Resources, which this month has raised £1.3 million and is developing newly acquired assets in Portugal. Last comes Cadence Minerals. This, the renamed Rare Earth Minerals, adopts a more portfolio approach, taking stakes in mainly lithium mining projects and companies in areas such as Australia, Mexico, Namibia and the Czech Republic, and has more than £40 million invested so far.

“I think companies like Kodal and Savannah and Bacanora are the way forward,” Mr Meyer says, “but there’s risk associated with it.” And how. The fledgling lithium mining industry makes those wildcat oil and gas explorers that have made and lost investors’ fortunes over the years look like a sure thing. The upside is that if they become too successful, one of those big players will roll over and buy them.