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Kodal Minerals (KOD) Shares Jump on Gold Exploration and Mali Update

Updated: 28 May 2021

AIM-listed Kodal Minerals (LON: KOD) share price is rising on Friday following its update on its gold exploration activities.

The company's shares were falling this week after political upheaval in Mali. This could have impacted its Bougouni mine, however, in a statement today, Kodal said it continues to monitor the developments closely, but the country representatives and employees have said the situation remains calm and that commercial activities are continuing as usual. 

Regarding Kodal's gold exploration, it has commenced aircore drilling at the Nielle Project in northern Cote d'Ivoire. The 5,000m drilling programme is expected to take two weeks to complete, with samples submitted for assay at completion.

A second drill rig, a reverse circulation drill rig, has also arrived on-site and is expected to commence drilling as soon as all checks and preparations are complete.

At the Dabakala project, located in central Cote d'Ivoire, Kodal has completed the infill sampling programme and has submitted all samples for analysis to the ALS Laboratory in Bamako.

Meanwhile, at the Bougouni Lithium Project, the company confirmed that the updated Feasibility Study has been lodged with the DNGM in Bamako.

Kodal representatives have spoken to the DNGM, and the company is now awaiting a request for payment of the mining licence fee. Once paid, it would trigger the drafting of the mining licence decree for final ministerial approval.

Kodal Minerals' share price is currently up 5.21% at 0.25p. 

Should you invest in Kodal Minerals shares?

Kodal Minerals shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Kodal shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

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