Shares of Kodal Minerals PLC (LON: KOD) surged 10.9% higher as investors await the issuance of the Bouguoni mining license that will unlock the premier lithium resource.
Investors have been extremely patient with the company given the multi-year long process culminating in the recent progress toward finally being awarded the mining license.
Most people expect the current Malian government to issue the license to Kodal within the short to medium term and with good reason.
Kodal Mineral has shown exemplary prowess in dealing with the ruling class in Mali despite the multiple changes in government in recent years.
The company has worked effortlessly with successive governments while pushing the Bouguoni lithium project towards final production, and we are currently in the homestretch.
Kodal is well-positioned to profit from the rising demand for lithium from car manufacturers, smartphone manufacturers and other companies that make electronic devices that rely on battery power.
The lithium-ion battery remains the most popular choice among most manufacturers due to its stability, allowing easy storage and transportation, combined with its ability to store large amounts of static electricity.
Meanwhile, it appears that investors are taking on bullish positions ahead of the future announcements, which might work for long-term investors and aggressive traders.
Conservative traders might find it best to wait for the price to pull back and trade near the 0.30p support level before jumping in.
*This is not investment advice.
Kodal Minerals share price.
Kodal Minerals shares surged 10.95% to trade at 0.385p, rallying from Tuesday’s closing price of 0.347p.
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