EXPLORATION & DEVELOPMENT

Investors diving in before Kodal resource

Investors are getting excited about Kodal Minerals’ (AIM:KOD) maiden resource for the Bougouni lithium project, with the company’s ‘hold-on’ message spurring on more buying.

Staff reporter
Kodal moment: The developer is still working on its maiden resource for Bougouni

Kodal moment: The developer is still working on its maiden resource for Bougouni

At the end of last week, the company put out an announcement in reaction to its share price climbing from 0.14p (US0.18c) on July 30 to 0.22p at close last week. 

"Kodal Minerals … notes its recent share price movement and speculation regarding the publication of its maiden mineral resource estimate," the company said.

"As announced on 25 July 2018, the board is expecting to announce this in the autumn.

"The company has contracted CSA Global to prepare the report but is awaiting certain remaining assay results from its recent drilling programme before the report can be completed."

Kodal said its "best estimate" for the Mali project's resource was early September.

Following the announcement, the gains continued.

On Monday, the price climbed a further 18% to 0.26p.

Kodal has published promising drill hits in recent months and raised £1.5 million in June largely from existing major shareholder Suay Chin International.

 

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