Key points:
- Kodal shares edged higher after appointing an operations director.
- However, investors barely reacted to the news, which was insignificant.
- Instead, many are waiting for a significant development from the firm.
The Kodal Minerals PLC (LON: KOD) share price edged higher after announcing that it had appointed Mr Steven Zaninovich as its new operations director. Zaninovih has been with the company since November 2018 as a project manager for the Bouguoni lithium mine.
However, this is not the first board-level position that Mr Zaninovich has held in his illustrious career within the mining industry spanning over 30 years. He was previously the Chief Operating Officer at Gryphon Minerals before its acquisition by the Teranga Gold Corporation.
Also read: The Best Lithium And Lithium Mining Stocks To Buy.
Mr Zaninovich was later appointed as the Vice President in charge of Major Projects at Teranga Gold Corporation after it acquired Gryphon Minerals. This position allowed him to play a crucial role in the executive management team.
Kodal Minerals also cited Steven’s extensive knowledge of West Africa and his vast experience in managing mining projects throughout the entire project life cycle, starting at the feasibility stage to the production and maintenance stages.
However, investors barely reacted to the announcement, which in all honesty, did not change much at the company since Mr Zaninovich was already working for Kodal Minerals. Still, his appointment is a strategic move, given the current political uncertainty in Mali.
Having leaders who have previous experience working in countries with volatile politics can be a significant advantage at such times. However, this is the second announcement from Kodal that has attracted minimal attention from investors following the release of its annual report last week.
Investors appear to be waiting for important news before bidding up Kodal’s share price, but today’s appointment cannot be regarded as significant news.
Kodal shares are trading in the middle of a wide trading range, and I wouldn’t buy them at current prices. However, I would be interested in buying if KOD shares fell to the 0.225p support level or broke above the 0.264p resistance level.
*This is not investment advice. Always do your due diligence before making investment decisions.
Kodal Minerals share price.
The Kodal Minerals share price rose 2.04% to trade at 0.250p, rising from Tuesday’s closing price of 0.245p.
