Member Info for elcobbledore

Yep plus it’s great to see the project is within the budget. So many companies lose control of spending, so good to see actually coming in on, if not slightly under, budget. Good job Bernie and the team!

Not sure he did mention dividend payments as such, think was something he said to cover himself. Wasn’t clear tbh. Yep resource upgrade likely in q3 and export license due soon (hence his visit to Mali this week), probably after opening ceremony. Good to hear firm grip on costs and AISC may even come under $647 pt. He’s mentioned a few times now keen to look at other projects so they may be eyeing up other opportunities, guess time will tell. Hopefully gold projects get moving along once lithium plant is fully operational. I did ask how we’re going to finance stage 2. I’d imagine another loan perhaps if it gets that far (ie we get bought out before).

In case anyone was wondering, what Kodal has done is impressive and many junior miners fail. Feel free to put your money in prem, you might as well flush it down the toilet. GGP on the other hand I see value in.

“Pure-exploration junior mines in new unexplored areas are exciting, but more likely to fail than juniors in areas with geology that is similar to that of nearby producing mines. Some statistics indicate that only 1 in 5,000 to 1 in 10,000 grassroot exploration projects ever reach the production stage”.

So again I reiterate it getting to production is massive and it’s of a good quality. Share price re rate will happen at some point.

I’agree onlyking. The thing is with kodal being a low cost producer it actually makes us quite valuable even during this rubbish spod price environment as many others will make a loss whereas we can still make a profit with AISC of $647 pt. Also, with Mali govt taking a decent chunk, Hainan I think will want to swoop in for the rest ie 65 per cent. I am optimistic that we can get to 50 mt, then Hainan make an offer of at least 1p (would be top 10 resource), and we move onto the gold. Bernie suggested resource upgrade due by the end of the year. So a few more months to wait.

I do seem to remember he has history here of writing re ramping nonsense, and was close to green boxing. Think I’ll have to do that now, if he continues to sprout garbage. Shame that this board is turning into a cesspit again.

No you’re talking absolute rubbish. Clear deramper. Anyone who genuinely thinks kodal is like prem is an absolute muppet. Kodal are producing decent quality spodumene at a good quantity. Prem hasn’t produced anything, and unclear if they will. Prem has an awful CEO, kodal has a good CEO. Prem continues to dilute shareholders with placings at a crazy price, Kodal has not decided to go down that route. Enough said. So suggest you brush up on your analysis skills.

Yeah I get your frustrations for sure but you literally can’t win. Whatever you say they will pick at. And I know you want to provide good reasoning for new investors but they can do their own research. Bit like a fire…give it oxygen and it exists. If you don’t it goes out. If everyone filtered the cnts they would soon give up.

True bfd chef is an absolute nutcase, but if you filtered him and didn’t reply he might not continue…he might be jonnypc in disguise who is a total knob jockey. Best to just filter and let him argue with himself. You literally can’t win any argument with people like them 👍

It’s all good George, been here a few years and I am positive for the future. Hindsight is a wonderful thing and maybe should have top sliced at 0.8 but that’s life. I still believe that medium to long term will come good. Like a bottle of ketchup 👍

Ps I’m welcome to hear opinions from everyone except disruptors. Let’s keep a balanced board talking about the positives and the negatives. There are a few chumps who win the green box but always good to debate the good and bad. Ps beers and porn star martinis went down a treat today 👌

The basher what I would say is the ratio of buys to sells is absolute BS. Never pay attention to it as it’s almost always garbage. Many buys are sells and many sells are buys. So don’t rely on that as it’s rubbish. Just Dyor and make your own mind up on if you want to buy, hold or sell.

Cheers Merc on the porn star martinis now as it’s nice weather in London!! 👍

Https://kodalminerals.com/wp-content/uploads/2025/02/Kodal-Presentation-17-Feb2025_1st-Production_FINAL-PDF.pdf

He says resource upgrade targeting 50 mt by year end.

Things may have changed since then as am knee deep in beer right now 👍

Yep agree Lav. I do think a buyout may well happen but only once resource upgrade happens which is due by the end of the year according to Bernie. As you’ve alluded to before, the fact that it’s a v low cost mine with spod prices as low as they are, this is v valuable. Long term prices have to be $1kpt plus or else higher cost mines simply get shut down. For me, probably like others, is to get lithium buyout then move onto gold. Gold prices I think will only go up. Excited about the future here. It certainly has not been plain sailing but that’s Africa and AIM for you…

Yep I agree, there are so many mining stocks especially on aim that continually do raises and heavily dilute shareholders. This is not the score here and that’s a big positive for me.

Yep fair enough, it’s quite a complicated picture. But most important thing is producing good quality spod at decent volumes.

So checked and KMUK as at 31 Dec 23 via companies house had £91m cash. That was a while back and of course $65m would be for the DMS build plus exploration and running costs £ to be paid.

Surely there’s enough in the coffers to have done this without a loan? For me it’s not a big deal as in the grand scheme of things it’s small fry but good to know thoughts.

Quick qu, so according to latest pres in feb on the website, we had £17m in cash. Why not pay final $7.5m tranche out of this and still leaves £11.4m in the bank instead of attaining a loan? I may well be missing something…

For me the most important things are….

Good

License transferred after $15m paid for Mali government

Spod at required concentration of 5.5 per cent (critical)

20k tonnes already primed for shipment

Unsecured loan rather than secured vs plant

Bad

Export license timings uncertain

Still optimisations to come on the plant, likely to be next quarter until reach nameplate capacity (but usual to have to do optimisations)

15 per cent interest on loan

No info on gold projects for sometime

Dealing with Africa

As it any share, there are positives and negatives. My view is the export license will come and they’ll optimise the plant but both may take time. Expecting resource upgrade to get to 50mt by end of the year and buy out to follow. But as always Dyor.

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