Kodal Minerals' shares are trading higher on Tuesday after the company said it received correspondence from the Direction Nationale de la Geologie et des Mines (DNGM) in Bamako notifying them of the acceptance of the Feasibility Study for the Mining Licence application at the Bougouni Lithium Project.
They have also received the request to pay the application fee for the delivery of the Mining Licence, which is £135,000.
The AIM-listed company said they would pay the fee promptly to advance the application and maintain communication with the DNGM.
Once the fee is paid, DNGM will draft the mining Licence, which is forwarded to the Ministry of Mines, Energy and Water.
Kodal Minerals Share Rally Driven By Investor Optimism About Its Prospects
Bernard Aylward, CEO of Kodal Minerals, commented: “Our Mining Licence application is progressing through the final regulatory stages and the receipt of this letter confirming the Feasibility Study for the development of the Bougouni Lithium Project and the request to pay the Mining Licence application fee is a very positive development and brings us significantly closer to a fully permitted project.”
Kodal Minerals' share price is currently trading at 0.292p, up 20% after Monday's 5% gain.
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