Member Info for 100notout

Two announcements, is that they only thing you think that I'm referencing?

How about the Suay Chin off take buy back agreement . The change of the mining code. Having to pay $15m to the Hainan government. The governments buy in price for 35%. Strong JP relationship. No news on the gold projects.

But hey it's just a typo. If that is the case Bernard needs to inform the FCA.

It is a complete and utter $hit show and this is how Kod will now be perceived by the market. This has just become a gamble.

One thing you were right about Laverda was suggesting that Bernard wasn't up to the job. If this would have been Leo or Prem you would have been all over it. Look what happened to them.

With Respect Laverda - Many on here have used their hard earned cash investing in this $hit show. I think you will find that they expect better from the directors. Kodal and Hainan should have sorted this mess up behind closed doors and if they couldn't come to an agreement they should have instructed their perspective lawyers then to hash it out and informed the market at that time. Surely both parties would have realised how this would be perceived by the markets but more importantly what it would do to Kodal's reputation. How many serious investors would buy into this now?

Shareholders were told that the relationship with Hainan was strong but it would appear that's not the case.

We were told the US$17.75 million raised from the Subscription will be used to advance the Company's portfolio of gold exploration assets in Mali and Cote d'Ivoire, as well as the assessment of new exploration and development opportunities in West Africa. So these funds were not earmarked for paying tax.

If Kodal has to pay $15m I doubt there will be any money left in the KOD coffers. Make up your own conclusions but it's a little suspicious as to why little or no money has been spent on the gold portfolio.

Bernard needs to be squeaky clean with this and no doubt his legal team would have urged him to contact the FCA to cover himself and the company. I don't think some on here realise how serious this is and saying it's just a typo won't cut it. How many shareholders lost money with regards to Hainan's announcement and Kod's last RNS. This is supposed to be the LSE not the wild west. Shareholders deserve better.

No Laverda, it would seem you are the one who is not the investor. You do a fantastic job on the propaganda front when it comes to Kod. I'm an unhappy shareholder with good reason. Perhaps if you invested a lot you would be a bit miffed.

Do you work for Kod or an interested party as you are very biased in Kod's favour? It would appear that way.

Kod issued the RNS not me, I'm only reading what was issued. If everything is so great then please tell us why the share price is where it is. Hainan are Kod's largest shareholder and Joint Partner, this isn't great.

I suppose all shareholders are supposed to pat Bernard and Steve on the back and say great job and by the way can we have a Kodal cap. I have lost money on this sh±t show so yes I'm annoyed and any shareholder in their right mind isn't going to be happy. Can you not realise that perhaps some of us are fed up with listening to the 'fully funded, fully licensed, strong JV partner' guff.

I urge investors to go through all of the previous RNS's and come to their own conclusions. No spin is going to work here anymore. If you say the truth you are treated with disdain and contempt and labeled with 'shorter, not a shareholder and bear etc' . I'm none of these I just don't buy the propaganda anymore and tell it as how I see it. The day we can have open conversation without telling people they are what they are not, and rather at least attempt to understand other peoples points of view, without throwing unfounded personal accusations; when we can do that, maybe we will be at a point where the world is a better place - otherwise we learn nothing. I'm open to being persuaded. I want to be persuaded. I just don't see it anymore.

It seem that for some Kodal can do no wrong. No genuine shareholder can be happy with the shenanigans which have taken place here. Many on this board were quick to point out the shortcomings of Prem and Leo but will take no criticism for how this company has been run. It's nothing short of a disgrace. The Suay chin off take buy back was a surprise for shareholders, the change in mining code, tax implications and now the not so strong relationship with Hainan not only our partner but Kod's largest shareholder. How any shareholder can paint a rosy picture is in denial. If Bernard is innocent in all this he needs to start sacking his advisors and get a new legal team, take some positive action and look after the interests of all shareholders not just the largest two.

This is now a gamble on the spod price increasing and the hope of a third party like Ganfeng coming into the fray as the relationship with Hainan looks very sour and there must be very little trust for the Malian government from Bernard's perspective. The silence from Hainan isn't great, surely they would have made an announcement straightaway if it was down to a typo.

Fortunately Bfd, I don't mind admitting when I'm wrong and I did over the weekend with regards to my investment here. Like I was explaining I have invested in precious metal etf's that's turned out to be right.

Perhaps it would have been better for some holders if they had followed my lead and sold, they could have bought back in the 0.20's today if they wished.

I wasn't wrong for calling the concerns I have. I look at investments from a realistic and pragmatic approach. Perhaps the shareholders berating me over the weekend should ask the question about who was right and who was wrong. If you look at the share price today I think I wasn't wrong but you obviously see things differently. Don't shoot the messenger, I have just pointed out my concerns.

like i have explained, kod sholdn't have invested in mali until all the licenses, clarification on payment s and taxes were in place. bernard and steve are out of their depth and have literally built a house on land they don't own and are now in the process of trying to buy the land at a high cost to the detriment of shareholders. hainan along with the malian government will be calling the shots and as for kod, they are the little fluffy poodle who will have to do as they are told. my concern though which nobody can answer is how will they pay for stage 2? shareholders have been taken for muppets, hainan and the malian government will be ******* themselves laughing to the share price reaction. bernard needs to do one of his interviews to clarify this mess as this has become a joke for genuine longterm shareholders.

I am still a shareholder unfortunately Laverda but fortunately not to the level I was a few months ago. Something didn't sit well with me. I was concerned with Kod's relationship with Hainan and it doesn't look great does it. I have already lost a considerable mount and that was selling at 0.4 and above. I'm just relieved I didn't have 'the minerals' as somebody pointed out over the weekend and went with my gut feeling and managed to sell a good portion when I did. I just hope some saw my concerns as genuine and to reduce. I could buy back a larger amount if I wanted but with the spod price where it is and the dubious relationship with the joint partner which we were also told was strong along with the fully funded and fully licensed guff. I just have little faith and hope that Hainan will buy us out but I'm being realistic about the price and if they offered 0.5 that would be a good outcome in my book. I'm sorry I don't have the conviction but I'm glad my losses were below 15% for the majority of my holding. I can live with that.

like i said hainan bought in at 0.5 when the spod price was considerably higher. the offer will be lower than this surely. what a complete and utter **** show.

Perhaps Bernard and Steve should show a bit of confidence and but some shares.

It's ok as Kod is fully funded and fully licensed. Nothing to worry about.... Bernard and Steve are out of their depth and have taken shareholders down with them. Bloody great.

You are right Laverda I was unaware but not surprised ...

Laverda, You asked me what I will worry about next well this RNS is a little concerning isn't it....

with respect laverda have you seen where the share price is. perhaps some of us are a little annoyed of hearing the fully licensed and fully funded rubbish when in fact the licence agreement has changed and we are certainly not fully funded for stage 2. so perhaps bernard should stop saying this until kod is.

if the funding is to be done by lmlb will it be delayed or will they really make enough to fund it in two years time unless the spod price trebles. it would be interesting to hear this form bernard in one of his interviews and also if they have had any interest in the stage 2 off take agreement as it would appear that hainan are not in a rush to commit to it. as somebody mentioned yesterday this a **** show and investors have a reason to be annoyed. the share price fell on funding signing and now on the license agreement. the share price was higher than this before hainan were on the scene. it seems that if you have any genuine concerns on this bb you are considered a bear or a deramper. there has only been 2m traded so far today and they are below 0.4 to buy, that says it all.

But how do Kod intend on funding stage 2 in the first place. No wonder they haven't spent any money proving up the gold reserves as they will need every penny to fund stage 2.

Do any of you really expect a dividend in the next few years? I never though this was on the agenda as funding stage 2 will be a priority and I can't see Kod doing this unless the spod price drastically increases. Where will they get the money from to pay for their share of the funding?

Elcob - I must say I have become disillusioned with the London stock market for awhile now and have been investing in precious metals which is working out better. In the past I would invest in the companies but now I just buy the metal itself usually in etf's. Perhaps not so rewarding but safer. I hope you manage to pick some winners too. Best wishes, 100 and have a great weekend.

Thanks elcobbledore. You have been a sterling contributor and I have enjoyed your commentary and Lav's and I wish you well too and the best of luck.

I think you realise that I'm coming from a place of frustration rather than malice and have just tried to look at Kodal from a pragmatic and realistic position as I've got a lot of skin in the game. I have stated many times that they shouldn't have started building the mine before all of the agreements were in place. I'm sure most on here wouldn't build a house on land they didn't own and then discuss the land price after it's built !!. I like Bernard but I think he has been naive.

Aher - You honestly think I want in lower? You are misguided, I'm selling and I bought in considerably higher than the current price. Don't take my opinion personally but I will never invest in Kod again after the last update. I still have shares to sell. Believe me it's been extremely difficult trying to sell large amounts of Kod and has been for a considerable period of time. Every time I try to sell, they can only take a small amount at a time. The most I could sell in one transaction yesterday was 7m shares. Previously I have been able to sell in 10m blocks but the mm's wouldn't take larger amounts now.

Fell free to buy more and push the price up so I can sell out completely at a better price. It's not easy to write this because I am basically saying that I got it wrong. I have lost a lot of money investing in this company. My opinion of the potential future for kod has changed but I hope that the company does really well but for me the risk is too high for the potential rewards. It's not personal and I don't short, never have, never will, so don't shoot me down. I'm just a frustrated long term shareholder who has had enough. I wish those of you who hang out for the long term all the luck in the world but it's just not for me anymore.

If you believe that stage 2 will be wholly funded by LBLM it won't happen in the next three years unless the spod price reaches previous highs. Stage 1 was $65m, stage 2 is a different kettle of fish and will Hainan have the appetite for it! I think not with regards to the Malian government's greed. If anybody on here can honestly justify that they got 35% for $4.3m then good luck but I personally think it's been poorly handled and left KOD in a precarious position.

I stated ages ago that Kod should have been looking into proving up the gold projects considering the price of gold but alas they haven't done anything and this was a mistake in my book.

What happened to the 50mt resource? Why has there been a delay?

The risk here is just not worth it. Another jam tomorrow company at the peril of a dodgy military government and the price of spod. There are better opportunities elsewhere.