StockMarketWire.com - Mineral exploration and development company Kodal Minerals said its application for the Bougouni lithium project in Mali was now in the 'final stages' of approval.

'The new mining licence decree has been drafted and verified by the Mali Ministry of Mines and forwarded to the Secretary General's office,' the company said.

'From this point the licence application is prepared for presentation at the Conseil des Ministres of Mali and following agreement will be formally approved. We will be monitoring the progress and will update investors as we receive further information; it added. The company also provided a positive update on its first gold exploration drilling campaign at the Nielle concession.

'The Nielle prospect is at an early stage however the results received so far have given encouragement as to the possible resource potential here. Further exploration drilling will be undertaken later this year with the objective of delivering a maiden mineral resource estimate.'


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