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Kodal Minerals PLC - mineral exploration and development company focused on lithium and gold assets in West Africa - Pretax loss for the year ended March 31 widens to £903,087 from £623,370, as share-based payment charges multiply to £342,876 from £77,979. Administrative expenses rise to £540,655 from £512,885. Records no revenue as it is still in its exploration and development phase.
Plans to invest in the exploration of its Fatou & Nielle and Dabakala gold projects going forward, following encouraging results from its reverse core drilling campaign. Further, it plans to ‘de-risk’ its flagship Bougouni lithium project in Mali, by further reducing expected operating costs.
‘We are in the enviable position of owning 100% of the concessions of what I believe will become one of the most significant lithium spodumene producing projects in West Africa, and the first in Mali,’ Chief Executive Bernard Aylward adds.
Current stock price: 0.24 pence
12-month change: down 38%
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