Member Info for Compo62

You planning to be a fly on the wall, Rog?

It amazes me how some people can blather on and on whilst missing or ignoring some of the most basic details. Absolutely NOBODY has to stump up $15m now. Half is due within 5 days of the MOU, the remainder by (if I recall correctly) the end of March 2025. And the Hainan communication confirmed that KMUK would make the payments whilst reserving the right to claim it back from KOD without indicating when that might happen.

Spread FUD if that floats your boat, but at least try to be consistent with the information that is publicly available

Apologies - didn't realise my fat thumb had hit the send button. If Mali's cut comes out of KMUK profit, taking their tax payment out of those profits might seem like evasion - is what I meant to say. The Hainan RNS leaves room to resolve that if necessary

Here is a possibility...

Hainan HQ were aware that the tax should be paid by KOD and has been mutually agreed to be shared by paying from KMUK. Happy with the agreement per se (they were party to it after all) they realise, with only a few days to pay the initial tranche, that they need to publicly reserve the right to recover it from KOD. This is to maintain the appearance of propriety. The MG could take it very badly if they thought anyone was moving things around between accounts to avoid paying their

Nothing

Leverage? Maybe! But it could also be for an added incentive - to get production going in January

Bfd... TImes have changed. Most villages these days just let their idiot come and go as they please. All down to local government cutbacks, apparently!

Anyone who has been involved in a project of this size could make an informed guess as to what might be going on. A potential loophole has been spotted, bean-counters and project director argue about how to play it. Legal step in and insist on "reserving the right". We may not know the answer for some time.

I doubt that any clarification in the short term will result in the right being unreserved. But we could do with a public commitment from both sides to continue working together towards achieving the project objectives.

The $15m will be paid by KMUK - of which KOD effectively takes half the burden. KMUK reserves the right to recover all $15m from KOD - of which KOD then effectively benefits from roughly half. So yes, the net effect on KOD is approx. $7.5m.

$7.5m is the equivalent of 0.03c per share in issue.

The market reaction clearly reflects on the potential impact on the relationship, rather than the financial effect.

I would also note that "reserves the right" does not necessarily equate to "intends to pursue"

Good grief! BA is running a company, not spoon-feeding toddlers. He said he expected to complete negotiations with the authorities in October. He did not promise to announce it to impatient investors in October

If I recall correctly, Bernard said that he expected agreement in October. No mention of approval. Agreement may or may not have been reached. We don't know. Agreement on which elements apply from which code would not translate into an immediate announcement via RNS.

MMs probably not concerned with a bit of an overhang right now

AAAAAANNND............ as you were!

AIM wouldn't be nearly as exciting without the lemmings

So investors only value a company on its current balance sheet and order book? Right!

The only news I am really waiting for is the license transfer. The ships will arrive, the plant will get to the site. It will be built, tested and become operational - with or without hiccups along the way. One way or another.

The license transfer was going to take weeks but here we are over a year later. Yes, I know the valid reasons why, but to me it is this that is suppressing the SP right now. Every bit of "normal" progress has this dark cloud hanging over it. I will happily wait for production to start, with or without delays. But news of the license transfer will get me opening a bottle of the good stuff!

Ghost - I'm sure that is true. They will also not want to advertise the timing or size of any convoys, or the value of the cargo to the company. We probably won't hear any more until the main elements are safely on site.

There are a number of scenarios that might play out. Bernard may have no intention of selling our stake. Once the revenue stream is flowing he can recruit an entire management team to run the mine whilst he and Steve turn their focus to the gold prospects, if that's what he wants to do.

Hainan might want to own the mine outright. Maybe as soon as possible. But they might also want to leverage Kodal's excellent local relations until the flotation plant is built. They might also be happy to take, say, a 90% share to leave Kodal with some revenue coming in to fund drilling. Especially if they are interested in a JV with the gold.

Who knows! But one thing that gives me confidence is that all the evidence points to a really good working relationship between Kodal and Hainan. I am not expecting any kind of lowball smash and grab effort.

Blues... That's the problem for holders, but particularly BA, in a takeover before the gold prospects are priced in. Bernard has backed himself as a geologist to have seen value in those prospects that others have missed. Hence why I think a Lithium mine selloff is more likely than a company takeover. If a hostile bid came in now I'm sure he would fight very hard for it to be rejected. If he is agreeing a takeover, it wont be for peanuts.

I think Kodal selling off our share of KMUK to Hainan is the more likely scenario in the short term. BA wouldn't want to do that until at least the mine is in production, but I suspect all of that has been discussed (if not agreed) already. My assumption would be that the BoD could make that decision without recourse to a a shareholder vote, unless someone knows different?

Really? Was that me criticising our prime minister for calling far-right thugs, far-right thugs? I thought I just disagreed and faced a firestorm. Do you blame groupthink, or those who challenge it? Up to you! If you don't want to talk politics, don't raise it assuming everyone is in the same camp. We are not!