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Here’s Why Kodal Minerals Share Price Fell 10% Today

Simon Mugo trader
Updated 9 Oct 2020

Practice Stock Trading
Kodal minerals logo

Shares of Kodal Minerals PLC (LON: KOD) today fell 10% after the mining company welcomed the appointment of an interim government in Mali. The company expressed confidence in the new government saying that work on the Bougouni lithium project was moving to the next stage.

The appointment of the new government led to the lifting of the sanctions imposed by the Economic Community of West African States (ECOWAS), which is good news for the company’s products.

According to the statement: “Kodal welcomes the appointment of the interim government and looks forward to working with the government and progressing the mining licence application for the Bougouni Project and moving into a development phase for the project.”

The new government is expected to organise fresh elections in the next 18 months.

Kodal Minerals share price

Tradingview chart of Kodal Minerals share price 09102020

Kodal Minerals share price today fell 10% to trade at 0.0766p having dropped from Thursday’s closing price of 0.0852p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading