KOD - Kodal's $3.5mln prepayment a very clear indication of mutual desire to push on at Bougouni
(NewsDirect)
Kodal Minerals PLC (AIM:KOD) chiefexecutive Bernard Aylward speaks to Thomas Warner from Proactive afterthe mineral exploration and development company announced theprepayment of US$3.5mln from the Hainan Group as part of the fundingpackage for the Bougouni Lithium Project.
Aylward explains that he is currently focused on finalising afunding transaction announced with Kodal's future partner, theHainan Group's subsidiary, Jinmao. The $3.5mln received this weekfrom escrow was a prepayment that he describes as a "very clearindication" of the willingness of both parties to advance theBougouni Project. Aylward says that he considers the prepayment offunding from Hainan a vote of confidence in the management'sability to develop the project, as well as the projectitself.
He goes on to say that the Bougouni Project has shownpromising results with excellent drilling outcomes and ongoing work ona resource update, and discusses ongoing activities in South Africaand China related to the development of the DMS plant andmetallurgical test work for the flotation plant. The company aims tocomplete the transaction and achieve significant progress with theresource update and mining development by Christmas.
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