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Corporate Spotlight

Birimian Limited is now Mali Lithium Limited (ASX:MLL). The Company has made the change to highlight our commitment towards developing the world-class Goulamina Lithium Resource in Mali, into Africa’s first major spodumene lithium project.
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Interview with Chris Evans, MD Mali Lithium Ltd

PROJECTS

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 Projects Overview


Mali Lithium holds a significant amount of highly prospective lithium and gold tenure in Mali, which is an established pro-mining and geopolitically stable jurisdiction in West Africa. The Company is currently focussed on the rapid advancement of its Goulamina Lithium Project , following the completion of a Bankable Feasibility Study on the project by Q1 2020 and a positive final investment decision. The Company also controls the Massigui and Dankassa Gold Projects


In March 2016, Mali Lithium acquired the Goulamina Lithium Project (previously known as the “Bougouni Lithium Project”). The Goulamina ground-holding hosts a significant, bulk tonnage hard rock lithium pegmatite deposit at Goulamina, where the Company has defined a maiden JORC-2012 compliant Mineral Resource of 103.2Mt @ 1.34% Li2O (0.0% Li2O cut-off), for 1,383,000t of contained Li2O (MLL, 29 June 2018)


A Pre-Feasibility Study (PFS) update for the Project (MLL, 4 July 2018), based on an earlier 65Mt Mineral Resource as well as updated metallurgy and material cost reductions, demonstrates excellent project economics and significant potential for further upside.

The PFS indicated a pre-tax NPV10 of US$920 million and a pre-tax IRR (real) of 49.5% for Goulamina

While focussed on the advanced Goulamina Lithium Project, Mali Lithium will also progress opportunities to realise value from the Company’s gold assets within Mali.


Under the terms of an agreement with Société des Mines de Morila SA (Morila) Mali Lithium surrendered two areas of interest at the Massigui project, N’tiola and Viper, to Morila in return for an exercise option and a net smelter return royalty (currently being received). Morila is a joint venture between the Government of Mali, AngloGold and operator, Randgold Resources plc (Randgold). Randgold has announced that mining at N’tiola and Viper will continue into early 2019 and Mali Lithium received its first gold royalty payment in August 2018 (MLL, 10 August 2018).

 

Mali

The Republic of Mali (Mali) has an outstanding track record for facilitating and rapidly permitting mineral development projects, with a supportive government actively seeking to diversify the country’s minerals sector and boost its revenue base.

As Africa’s third largest gold producer, Mali has an established Mining Code and pro-mining culture and is ranked in 25th position out of 91 global mining jurisdictions (Fraser Institute) in terms of attractiveness as a mining investment destination.

Mali Lithium is in good company in Mali, with a number of world class mining houses operating in the country including Randgold, IAMGold Resolute, Anglogold and more recently Hummingbird Resources, which built the Yanfolila gold mine in 2017.


WWW.MALILITHIUM.COM

VIDEOS

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