Member Info for Albatross747

Surely we know what’s wrong. It’s the investigation and whether the auditors need to impair the asset. I believe they want to not do that so are working to a resolution

So they’ve falsified an RNS for banter?

The key thing for me is the statement that they intend to come out of suspension, which means they expect to file the accounts, which means if they can’t file till licence renewal that they expect licence renewal.

Newgrange maybe they thought they could pull it off

0.24 to buy

NT to buy come on

“ Indonesia's Ministry of Energy and Mineral Resources (ESDM) has issued warning letters to 106 mineral and coal companies for failing to submit their 2026 Work Plan and Budget (RKAB), which miners largely attribute to MinerbaOne system glitches.”

If we’re going to capitulate today I’d like a sub 15 top up please

Probably everyone buying for a Monday RNS now losing their nerve

Can’t buy much below 0.3p

If they thwart it convincingly could increase stability. Or .. Armageddon. Place your bets

Expecting RNS to say it’s nowhere near the mine currently either way. Does anyone remember how we reacted last time there was fighting?

This does feel like a middle finger from Hainan. They previously publish a resource upgrade a Kodal says it’s not JORC ready and now Hainan specifically saying it is. I wonder if we’ll get another response RNS or they think the last one still covers it.

Where you seeing code 1 aimless? Didn’t we have one couple of weeks back and nothing happened

“The Indonesian Ministry of Energy and Mineral Resources (ESDM) has announced that as of mid-April 2026, approximately 90% of the 2026 Work Plan and Budget (RKAB) submissions for nickel and coal have been approved. Director General of Minerals and Coal, Tri Winarno, stated that the remaining 10% are still pending primarily due to incomplete administrative requirements during the submission process”

Laying the blame on the companies for missing their deadline it seems

Laura - PT IM (PYX sub which mines the main asset) has had its director and another staff member arrested and charged with a bunch of stuff. That’s the bad.

The hope is that the company will be allowed to restructure and resume operations possibly after a small fine.

PYX have been radio silent for months and have at no point disclosed this investigation, which is interesting, one has to assume it’s not catastrophic or they’ve surely broken disclosure rules. But we don’t know anything for sure. Have the seized assets been returned? Have they applied for a new mining licence and RKAB?

But this is priced to collapse, literally any news that isn’t saying they’ve collapsed and the asset has been permanently seized (unlikely IMO) will send this up. But again no one really knows what’s going on so the risk is there.

I’m not sure we’ll seen much upward movement without news now. Think people will be ditching not wanting to risk riding it into suspension. I’ll look for a final top up before riding through the gates of hell if it comes to suspension.

Weird the article says it’s $60m but the conversion does seem to suggest around $2m

Weird the article says it’s $60m but the conversion does seem to suggest around $2m

Reminds me of the presentation savannah resources put out with a load of lithium miners price per net asset value and Kodal was pretty much the lowest maybe tied with some in the explorer only category where some of the other producers were multiples higher and the average other producer was about 1.5x higher. We’re still trading around the same price as when that was published maybe lower.

LeeBruce. You may remember from your past life trying to convince us that Kodal maybe didn’t have an operational interest anymore so perhaps they’re trying to add as much clarity as possible. Classic Bloggs trying to spin a nothing statement into a conspiracy theory though. Just like the bad old days