SOLD!1 Oct 2025 20:01
So, after several years, I've sold the bulk of my Kod shares this afternoon.
Yesterday's podcast gave me no reassurance. All this waffle about other licenses and gold fields. For Christ sake, concentrate in getting the Spod which is sat there gathering dust, sold!
Kod has a serious lack of financial insight, as it's being run by a geologist and an engineer. Don't get me wrong, Bernard has done incredibly well to get this mine built and operational. He should be applauded. But Kod needs to be more financially cute.
The day before the export license was awarded our SP was 0.36P. Today, with a valid export license and 45kT of Spod, ready to be sold, our SP is 0.30P. That a bloody 10% fall FFS!!!
Why aren't they shouting from the roof tops that they have $X Million about to be shipped to port and invoiced with a cashflow forecast for the next 6 months? No one in the company is pushing this positive information.
At best, this is financial naivety, at worse financial incompetence. The hard work has been done, thank you Bernard, now let the CFO run the business.
I can only see this drifting for the next two/four weeks, because of his lack of hard-nosed clout, and am using the cash to buy more Kefi and Mila, as the gold price is flying.
Sorry guys, but have had my fill of their lack of dynamism/general pondering and inability to get anything to port (license was granted almost a month ago).