Interview with Bernard Aylward, CEO of lithium explorer, Kodal Minerals (AIM: KOD)
**** Re-uploaded as our previous attempt suffered some technical issues following a YouTube software update. Fingers crossed this time ****
We meet with straight-talking former geologist Aylward to discuss his Mali projects. He gives us an honest appraisal of their finances and how they hope to approach the market with their story. Despite the current appetite for gold projects, their hard-rock lithium asset is the most advanced and is the focus, especially their Bougouni Lithium Project, as this has the best chance to move in to development.
We ask about Mali as mining jurisdiction. We discuss doing business in Mali with reports of terrorist activity. Alyward again is frank and honest in his response. Sounds like business as usual, and as an explorer of lithium, we would expect that.
We want to get in to the Management teams thinking, and understand Alyward's plans and exactly how they hope to continue to fund this project through exploration and in to Development. With limited finances in place, the Kodal team has been very frugal with its spending and plans to produce its own Feasibility Study (having done their own Pre-Feasibility Study in 9 months).
They have raised £6.5M to date. We ask what money has been spent on. Drilling and engineering? He suggests they will produce a Feasibility Study themselves. We questioned him on the validity in the market of doing that. Let us know in the comments section what you think of his response and indeed the company.
Understandably, they will need to raise money soon and look forward to hearing from them as to what they want to do with that money. There is an off-take agreement in-place and we try to understand what the nature of the relationship and what the terms of the agree mean to the company and the investors.
The gold assets are being maintained for future, and are working with Resolute who are earning in to one of the assets. Alywards values these gold assets enough to pay to hold them. These are not being valued by the market today.
And a FREE 'Not A Mug' Crux Investor mug to the first person to guess the song name and artist featured in the title of this video! (One mug per person).
(For fans of Tom, you can see him in the reflection in the glass window. Most of you will want to know if he has been fired this week. Yes, he was fired for the rubbish set up for this interview).
00:00 - Introduction
0:49 - Company Overview
1:30 - Why Choose Lithium? What Keeps Them and Their Shareholders Positive?
6:53, 34:44 - Mali as a Mining Jurisdiction: Pros and Cons
10:04 - Gold Asset: What Have They Got and What are the Plans
13:45 - Funding the Lithium Project and Plans for Spending the Money
17:28, 24:11 - PFS and Feasibility Studies: How Did They Manage it so Quickly & Cheaply?
22:51 - Share Price Drop: Why it Happened
26:14 - The Near Future: Cash Position and Going Back to Market, Financing the Projects and Taking the Next Steps
32:33 - Economics: How Will They Make Shareholders Money?
36:34 - Timings and Deliverables for 2020
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