Bougouni Lithium Project

Two-stage hard-rock lithium complex comprising the Ngoualana, Sogola-Baoulé, and Boumou pegmatite deposits. Located in southern Mali, accessed via the upgraded national road (RN9). Property mining licence transferred to local subsidiary Les Mines de Lithium de Bougouni SA under the 2023 Mining Code, with the State of Mali and national investors holding a 35% interest. First spodumene concentrate produced in February 2025 from the Stage 1 Dense Media Separation (DMS) plant processing Ngoualana ore. Stage 2 envisions a flotation plant to process Boumou and Sogola-Baoulé ore. 100% of Stage 1 production is committed to Hainan under a four-year take-or-pay offtake agreement. Flagship lithium asset.