Member Info for Compo62

So why are you here? Please do tell

Recovery rate... Hmmm... Who was it that was fixated on recovery rate? You may not know him, lee. He disappeared from here just before you arrived.

"I'd look on the bright side... if I could find it!" said Eeyore

I don't see any suspicious pattern in selling or buying. You are always going to get people who are happy to cash in for their 10%

Up with everything else on the ceasefire news

Lol - fair point, Lee. If you see him, maybe you could pass it on?

Unfortunately Lee, that's a bit back-to-front. People setting up a new small business with the intention of growing it (why else would they bother?) choose AIM because of the light-touch regulation and access to capital. Investors then buy in or they don't. Becoming a shareholder then demanding they move to another market would be like shopping at an out-of-town complex then shouting at the store owners that they should be on the high street. An AIM market stock is what you have bought.

That would be to apply human emotion to a corporate decision. Whatever is driving Hainan to force this issue, it is not emotional.

Jeez! How many times does this need explaining? If arbitration were to rule 100% in Hainan's favour and Hainan choose to enforce it, it would mean Kodal would owe $15m to KMUK, of which it is 49% owner. So the net effect would be more like $7.5m. And there is zero chance of such a settlement being enforceable in the form of a cash payment. More likely would be an adjustment in future disbursements until the debt is repaid. Add to this that arbitration is likely to take many months and the result = no drama!

Badomen, you insinuated that Bernard is delaying in order to pay himself another year of consultancy. That sounds cynical to me.

I agree with George. There is a reason for what you call the delay. Last year Bernard said that he was going to carry on drilling and didn't say why. Unlike anyone on here, Bernard and team can see and interpret the drilling results as they come in. They might determine that further deposits are indicated and worth exploring. And that would contradict your "sooner the better" argument, as the long-term value of the company is better served by maximising the resource estimate. And maybe George is spot on. Perhaps the psychologically significant 50mt is the target.

Either way, all of us are just making guesses based on the limited information we can see. Time will tell who is nearer the mark.

Unlike someone earlier, I don't see the attacks on the board as disgusting. Just that the constant sniping is tiresome and childish. And the moderators now seem to be prepared to remove the worst of it

Badomen, Bernard's remuneration is pretty typical for a CEO of a company of Kodal's size/position, and it saves the company money in geologist fees. Are you generally this bitter and cynical or do you reserve it for Kodal and Bernard? I am confident that he will focus on the JORC as and when it is in the best interests of the company. You are of course entitled to a different opinion.

Last drilling was in December, so 3 months would be a fairer whinge, if one were to whinge about it.

What some people here don't seem to understand is how much work goes into getting that JORC estimate approved. And for a small company like Kodal with plenty of other things to keep them busy, it is likely to slip down the priorities list. They won't really NEED the updated estimate until the FS for the flotation plant. Keeping nervous and impatient punters happy will not figure in their thinking.

I asked AI - In mining, how long does it normally take from receiving final drilling results to the production of a JORC-compliant resource estimate?

I'll save you the pages of details, but this was the "bottom line"...

For most real-world projects, ~2–3 months is a reasonable expectation if the dataset is clean and the geology is understood. But for early-stage or technically challenging deposits, 3–6 months is very common.

Howard - my apologies. I didn't realise that you were here representing "shareholders" and "the Stock Market" and "everyone". I stand corrected!

You are still offering the board a disincentive... Please stop what you are doing (running the company) and do some PR dog and pony shows to raise the SP in the short term so that I can sell (some of) my shares. As a long term investor this is NOT what you want the company to be doing.

Lee - you said that you "could do with the money". So you are planning to sell. So you are not a long-term investor, just a gambler. So why does the board of this company in which you have no real interest other than them making you a few bucks owe you anything at all?

Ivenoidea - So a company building a mine in Africa in a country that has been subjected to two coups in recent history and is plagued by disruptive insurgents and endures the general supply and infrastructure frailties that are ubiquitous in Africa has failed to completely accurately predict the future? But has managed anyway to complete the mine and establish a regular production cycle. I think I understand the issues pretty well. I just don't come on here whining because not everything goes to plan.

Kodal has a major stake in a lithium mine and ore processing plant. Collectively it amounts to ONE active asset. This asset is in a production cycle of approximately two months. It has announced that it will produce operations updates on a quarterly basis.

If you need drip-feeding with news on a weekly basis, the problem is with you, not the company.

They've been written by AI - with an instruction to produce a negative assessment

Badomen, I'm sure that Bernard gets treated with diplomacy by his direct contacts. You must surely understand how that won't ripple up to the Hainan corporate level. Kodal is a very small fish as well as a "western" fish, and annual corporate reports need to be punchy and succinct and not loaded with waffle about unverified estimates, etc.

So ist das Leben!