RE: What is Kod worth?8 Apr 2024 23:00
Celle it is slightly more complicated than you make out.
The actual mining licence will be held by a subsidiary of KMUK, which we are still waiting to be created. The government of Mali has a right to 10% of profit generated from Bougouni for nil cost and a right to purchase an additional 10%. I'm not sure at this stage how the profit calculation will exactly work or if the Mali government will have it's stake in KMUK or the subsidiary, although I suspect it will be the latter.
Either way, KOD won't get 49% of the profit from Bougouni, it will be reduced by the Mali government stake. The mechanism for Kod to receive cash profit , if it follows standard corporate practice ,will be via a dividend paid by KMUK I think