Kodal Minerals


Primary ticker: AIM:KOD
Stage of development: Exploration, Development
Primary minerals: Lithium, Gold
Project to promote: Bougouni Lithium, Fatou Gold, Nielle Gold
Project location: Mali and Ivory Coast
Website: kodalminerals.com

Corporate pressentation: Click here


Kodal Minerals is a ground-breaking mining and exploration company listed on AIM with primary focus on lithium and gold projects in Mali and Ivory Coast. At the Bougouni Lithium Project in Mali Kodal’s objective is to become the first lithium producer in West Africa. Kodal has been granted by the Mali Government, both the environmental mining licences at Bougouni.  Kodal is progressing with funding opportunities to support the fast-track construction of a conventional DMS facility at Bougouni, capable of producing 130,000 tpa of concentrate to generate US$1.05bn of revenue in less than 4 years. The project capital cost estimate is modest at $65M, generating a pre-tax NPV7 of $557M with a payback period of less than 3 months based on an average product price of US$2,080/t.


Cash: GBP$2,432,807
Debt: NIL


Major Shareholders: 
Suay Chin International Pte Ltd – 14.47%
Bernard Aylward – 1.40%
Robert Wooldridge – 0.97%
Qingtao Zeng – 0.04%
Charles Joseland – 0.04%
Management Ownership – 2.45%

Management Profile

Bernard Aylward – CEO
Bernard Aylward CEO is a geologist with over 25 years’ experience as a manager and exploration geologist in the mining industry in a variety of commodities. Bernard’s experience includes as Managing Director of Taruga Gold Limited from its listing on the ASX, COO of International Goldfields Ltd, GM of Azumah Resources Ltd (Ghana), and Exploration Manager for Croesus Mining NL. Bernard has been involved in the discoveries and management of the Bepkong, Julie, Collette and Kunche deposits in Ghana, and has experience operating in Europe, Siberia, South America and extensively throughout West Africa.


Steven Zaninovich – Operations Director

Steven is an engineer with over 25 years’ experience in project development, construction, commissioning and operations predominantly in West Africa. Steve served as COO with Gryphon Minerals prior to their takeover by Teranga where he assumed the role of VP-Major Projects and completed the BFS and licencing over the Wahgnion Gold Project, now mine, in Burkina Faso. Steve has been involved in feasibility studies, design, construction and operations of various projects in West Africa and Australia, including: Bibiani Gold Mine, Tarkwa Phase IV Gold Project, Akyem Gold Mine, Ewoyaa Lithium Project and the Bald Hill Lithium Mine. 

What is your rationale for taking part 121 Mining Investment?

Looking for access to equity investors, institutional funds and potential debt advisors.

What recent news would you like to highlight to investors attending?

29-Sep-22: Bougouni Project DMS Development Opportunity

15-Jun-22: Bougouni Lithium Project Update

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Finalise funding for the development of the Bougouni project.


6 Months:

Commence construction of the Bougouni Lithium project.


12 Months:

Commence commissioning of the Bougouni Lithium project, then progressing toward operational handover and thereafter into steady state production.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Execution risk and finance risk relating to the development of the Bougouni Project

What do you think makes your company such a compelling investment?

Top 10 lithium hard rock spodumene resource in the world.
Mining licence granted over the project providing the foundation for becoming the first lithium concentrate producer in West Africa. 
Excellent relationship with major shareholder, Suay Chin, who are experts within the lithium battery metals production market. Suay Chin hold an off-take agreement over the project and are engaged in potential funding options.

What are the top 3 key investor takeaways?

Significant, fully permitted and advanced lithium project, portfolio of gold exploration projects and Suay Chin as a strategic investor.