Member Info for elcobbledore

For me best case is to have Hainan buyout at a good price, plenty of cash in the bank, then get gold licenses sorted and mine ourselves without a JV. May not be possible with the funds but that’s my ideal. Gold price is heading north and will do for some time.

Yep I’m with you nettles re 0.8p undervaluing kod over the long term (gold assets do surely have some value). Personally if it ever came to a buyout (again I don’t know if this will happen), I’d like to see 1p plus, sell Bougouni then go onto another project and maybe even mine ourselves? I bet Bernie is regretting handing 51 per cent to Hainan who are applying pressure. But they also had the funding…

Also worth noting roc oil which is a subsidiary of Hainan bought out Tethys for 31 per cent premium. Bacanora got taken out by Ganfeng for 62 per cent premium. Resource upgrade according to Hainan is 48 per cent higher. So if Hainan ever did offer a buyout price presuming spod price stays at this level I imagine it would have to be in the region of 0.8p plus. We will see. But delivering reasonable profits right now which is good.

If only we can have a rise like strategic minerals. Wow, fair play to anyone who bought there!

Cheers Element. Yep I think there is so much more upside to come. Even at current gold Ggp is undervalued when looking at relative P/E ratios. Then if you factor in zero debt, crazy cash balance, great AISC, massive exploration upside, copper etc along with an awesome board, what’s not to like?! I cannot see gold falling from this level certainly over the medium to long term so when you do some basic sums, the numbers are nuts.

My view is not necessarily manipulation but the good old sell on good news that seems to plague aim shares. I do think Hainan will line up a buyout so that they own 100 per cent of KMUK so push kodal totally out. They are Chinese and control is paramount. I also think arbitration and the release of their figs on the resource upgrade is being done deliberately to show power to line up a low ball offer at some point. I may be wrong of course but that’s my gut feel.

Yep agreed Sam. At the time gangfeng offer a 62 per cent premium to acquire. If tha happened right now it would mean close to 0.6 for kod holders. I’d imagine some would be happy with that. But others not. With Bernie holding a load of shares that’s good for us as means he will want a decent deal if it comes to it.

I’d be interested to know people’s thoughts on where they think this will be in 2030? I’m only mid 40s so planning on holding for a few more years…I honestly think this can get to £30 by 2030 if we see a decent rise in gold to $8k plus. Anyone else think the same? I’m tempted to wait until my price target on others, sell, then go all in here even though it’s at ATH. I’ve always been a risk taker and if gold heads north I’m struggling to see much of a downside. Feel free to disagree of course, up for healthy debate!

Surely a full buyout is of benefit as means they own all of KMUK so in the future when it comes to distributing any profits etc, they benefit and won’t have to give 49 per cent to kod?

Ps old JORC for one of them was 350koz so clearly there is a decent resource but lots of work to do.

Personally I’d love something to be done on gold and get to a JORC resource. Gold price is going one way…up certainly for the next few years. Part of the reason I invested here many years ago was for gold and diddly squat has been done.

Up again to $2350. Let’s hope it holds this level above $2k, at these prices a decent profit it made which is critical for stage 2

Ok thanks Badomen I was going through lots of previous stuff and couldn’t quite figure it out. Cheers.

I guess the issue could be the reclaiming of the $100m that Hainan gave initially too which needs to be born in mind too…any thoughts?

V rough calcs but think KMUK, best case , will have around $100m profit after running DMS for 1 year. Rough calcs $2kpt price achieved and AISC $750pt (allowing for some increase but we have no idea if this is accurate), 125kt total. If that’s a decent forecast, will require further funding of c$75m or so for stage 2. Good news is we can run the DMS at the same time as the build for stage 2 I believe so can we not continue to run stage 1 DMS whilst building stage 2 hence won’t need funding unless the lithium price drops significantly??

I think it’s important to remember Bernie is a massive shareholder here so clearly it’s in his interest to get the SP moving north. I’m disappointed being flat after so many years, but I live in hope. It’s making profit at these levels and many juniors never even make it to production. Kod is doing the right things. Let’s hope it translates to a better SP this year.

Hi compo, yep sure you can call me elc. My nickname comes from a time many many years ago where I drunkenly rugby tackled a cactus in Ibiza. Hence i became known as elcobbledore as it sounds Spanish (surname Cobb). I agree compo on your points, it will come out in the wash 👍

Fair enough badomen. I see both sides for sure. There are bits of good and bad news here. I do definitely agree we need more info on profits. Is the AISC still $647 pt? It’s still showing as that on the pres but I feel it is higher due to inflationary costs. Would be good to understand what this is though as investors we need this info. It’s clear Hainan are running the show here, I just hope that as shareholders we get a good deal whatever that may be…

I have no idea why posters are saying the wheels fell off? Seemed to be issues in Jan and Feb but sorted in Mar…

The production of over 10,900 tonnes of spodumene concentrate in March was above plan and demonstrates the impact of improvements following maintenance and repair activities. Initial review of April 2026 performance indicates that production is on track.

Ah yes Bloggsy in disguise!