Kodal Minerals PLC (LON: KOD) shares are up 252.4% in 2021, ahead of the mining license issuance for the Bouguoni lithium project, which has been pending for a long time.
The award of the mining license will be the culmination of a multi-year process and would unlock significant revenue potential for the mining company and its shareholders.
Investors have a right to be excited about the mining license award, given that the current Malian government has already accepted the project’s feasibility study.
The Bouguoni lithium project has received approval from the Ministry of Mines, Energy and Water. It has been forwarded to the Secretary General’s office before its presentation to the Conseil des Ministres.
It’s been two months since the project was forwarded to the Secretary General’s office, and many expect the license award to happen any time now.
Kodal is set to profit significantly from the rising global demand for lithium among electric vehicle manufacturers and the electronics industry in general.
Meanwhile, investors are eagerly waiting for the license approval, which could trigger a rally in Kodal shares, given that they have been trading sideways since the last update in early August.
*This is not investment advice.
Kodal share price.
Kodal shares are 252.38% this year and could rally higher once the Bouguoni lithium license is issued.
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