26/08/2020 – Mali Lithium Limited is continuing normal operations with the ongoing political instability in the West African country having no adverse impact.
It appears to be business as usual for the mining sector in Mali after a military coup ousted the President last week with no reported impact on operations or security at operating mines.
Mali Lithium’s operations, which are some distance from Bamako, the Malian capital and the centre of the political instability, have not experienced any adverse impact to date.
The company is monitoring the situation closely and is in consultation with local stakeholders.
Situation in Mali
Mali has suffered political instability in the last month leading to the resignation of the President and dissolution of the government with the military seeking to resolve the political crisis.
The latest difficulty relates to allegations of corruption around the outgoing President and his regime, as well as issues of pay and conditions amongst the soldiers who have seized power.
Mali Lithium said it was encouraged by the ongoing national dialogue to focus on the transition to a new civilian government, supported by the majority of Malians.
Goulamina Lithium Project
Recently, the company upgraded the mineral resource estimate at its world-class 100%-owned Goulamina Lithium Project in Mali with a lift in size and quality.
The Goulamina Definitive Feasibility Study is in the final stage of completion and the company hopes to release the results in coming weeks.
Mali Lithium also has significant gold assets in Mali and is actively assessing opportunities to increase exposure to gold.
The company has adequate liquidity to pursue opportunities.
It has received an R&D refund of $494,721 from the Australian Tax Office, and has also received various stimulus payments from both State and Federal governments and expects further payments.
BY John Miller / ProactiveInvestors