Member Info for elcobbledore

Found the detail on gold. In essence Kodal is focusing on 2 of the key propsects, Fatou and Nielle. The others seem to be a real pain to get licenses for/aren’t worth focusing on. Seems like a sensible strategy to me.

“The Dabakala and Tiebissou projects in Côte d'Ivoire have been removed from the concession table due to significant delays in receiving approval for the renewal of concession in the case of the Korhogo project, and for the Dabakala project the ongoing review of the potential forestry permit and discussions with the DGMG of Côte d'Ivoire have lowered confidence with these licences.

In Mali, the Djelibani Sud, Nangalasso, Sotian and Tiedougoubougou concessions have been removed from the table following the Company's review of the age, prospectivity and low potential for exploration expenditure relative to the focus on the Fatou project. The Company has negotiated a sale of the Djelibani Sud, Nangalasso, Sotian and Tiedougoubougou concessions to the original vendors of the concessions which is being documented and these concessions are therefore included within assets held for resale at the year end.

As a result of the review of gold projects outlined above, an impairment charge of £1,572,000 (2023: £nil) has been recognised in the year.”

Yep agreed, doesn’t make sense. But it’s not that relevant anyway, until the MRE is sorted it’s speculation. I like the continued narrative of additional exploration for projects, so clearly the JV is keen to add value elsewhere…one to sit on your hands (and top up if you so wish)

Yep totally agree Stock Cheque. Personally I will be adding more to lower my average as I believe in the long term nature of the project. I hope the BOD realise moving forward not to over promise, fingers have been burnt. Looking at the positive though it’s one of the lowest cost producing projects which will be vitally important for many years to come, still making a healthy profit when spod prices are low.

Herbert will be as annoyed as us…he has loaded in heavily and think from memory he bought a load at mid 20s. So he’ll be sitting at a big loss right now…and will want to get this sorted

Yeah no probs, think we all need some humour right now eh. Just think potentially some people may be put off buying shares if they feel CGT will be put in line with income tax which would mean some having to pay up to 45 per cent tax when they sell shares (vs flat 20 per cent now). We will see but concerning Starmer is already saying there will be pain…tbf I don’t trust any politicians, they all lie, whatever will be will be but could well put people off buying

Also guys any thoughts on what starmer will do with CGT? I think he will increase it in line with income tax…as if we don’t pay enough tax

Perhaps it’s people worrying about Starmer screwing with capital gains tax. Likely to be hit so people selling up?

I’m not so sure they’ll make a decision when they reconvene. I’d love to think they will, who knows I know the local communities were working up a petition so perhaps it will put added pressure on…but my expectation is that a decision will be made in October.

Also this is on the kodal website so it can’t be any clearer…

Our Bougouni Project is unaffected by Mali's recent revision of its mining code published by the Republic of Mali in September 2023.

“The New Mining Code specifies that its provisions

prevail on those of the establishment agreements

and indicates that current exploitation permits remain

subject for their remaining term, to the provisions of

the laws and regulations that have governed their

issuance.”

If you can’t read it as sometimes asks to register it says new mining code only applies for new permits. Kodal has a permit, it’s just a transfer.

This clears it up Focca and shows you are 100 per cent incorrect.

https://www.lexology.com/library/detail.aspx?g=d34f08f2-c46a-4d50-8669-932a49dc1a4a

Https://kodalminerals.com/about/mali-our-host-country/#:~:text=DMS%2520processing%2520site.-,Malian%2520Mining%2520Code,an%2520area%2520of%252097%2520km%C2%B2.&text=Our%2520Bougouni%2520Project%2520is%2520unaffected,of%2520Mali%2520in%2520September%25202023.

Hope that link works

Focca you’re spreading false information.

See below. Mali have 10 per cent plus option to buy another 10 per cent. That has been confirmed.

https://kodalminerals.com/about/mali-our-host-country/#:~:text=DMS%2520processing%2520site.-,Malian%2520Mining%2520Code,an%2520area%2520of%252097%2520km%C2%B2.&text=Our%2520Bougouni%2520Project%2520is%2520unaffected,of%2520Mali%2520in%2520September%25202023.

Https://www.iea.org/reports/lithium

Https://www.graphic.com.gh/news/general-news/parliament-recalled-for-sitting-on-september-3.html

Agreed Merc, think resource upgrade should have a few more eyes on kod. Lithium market sentiment generally poor still but I’m sure will turn the tide soon!

I prefer things can only get better by D Ream!

See below there is still M&A activity in the lithium space which is encouraging (not guaranteed Hainan will offer a TO but it’s defo an option)…

https://www.mining.com/web/pilbara-minerals-to-buy-latin-resources-for-369-million/#:~:text=Australian%20lithium%20miner%20Pilbara%20Minerals,move%20to%20diversify%20its%20operations.

Also thought would be useful to show calcs.

At $800 pt based on 31.9mt kodal estimated profit of £19m DMS and £77m for floatation.

I have our break even at $700 based on estimates of floatation build from Leo.

At $1000 pt estimated profit is £53m DMS and £236m for floatation.

Based on current resource, expecting this to be 50 mt plus at some point.

Many others would be making a significant loss at sub $1000 so kodal are in a good position!