Member Info for Laverda

Potato, the first two shipments are not p&l shipments.

A working capital facility was provided which produced the stock we hold now and the cash in LMLB.

These loads are distributed between working capital in LMLB and repayment of loans before they start making payments to the government.

So they are not indictative of profit and loss..

PH, best to focus only on NAV then you won't get emotional.

When NAV rises eventually the share price increases and if a buyout the value has increased.

If you bought the entire business yesterday rather than today, how much less would have it have cost yesterday?

No difference - then why would anyone pay more today?

Just 85 million shares traded today. The spread won't help.

The average last 30 days was around 100m and average for a year 56m per day.

Pincer he obviously has something else to tell which he is doing in the next announcement.

Interesting.

Nielle?

Something to do with Bougouni?

Or have they bought something?

Pay down some of the facility from this shipment.

LMLB now well funded upon receipt of this first payment.

Market sensitive news to be included in an announcement, possibly after the receipt of the cash.

Not giving away any more detail until after that announcement.

77m trades so far today

Https://m.miningweekly.com/article/first-shipment-from-kodals-bougouni-project-departs-san-pedro-port-2025-12-01

It is a fantastic day. We are moving off this step at last.

So much more to happen in a short number of weeks too.

Brilliant.

Lol Elcobble, relax we are moving forward at last.

You wouldn't declare a corner shop a success on selling one packet of mints.

Will, there are loads of trades we have been up 10% and down to -3%.

The price does not move without trades.

Willteam, I don't think there are any games.

Bernard needs to tell us how much is retained for working capital, what will be paid with surplus ie working capital facility, then confirm the next shipment.

We need the floor price sorted - or not, but offtake finalised then Bernard explain the path ahead.

I don't think there is any great mystery or conspiracy just simple business moving forward at last.

Caledonian you get tiny moisture in crystal and rock it is negligible.

I have moved mountains of loads of materials and you either have to have something absorbant or so fine it can hold moisture to be significant.

Moisture is not worth a mention.

As far as liquification is concerned, asked the question and Bernard said their responsibility ends once on the ship.

While it is a big moment it is just one payment invoice into LMLB.

Most shares don't leap on a fart like Prem, FUM, UKOG and co.

Great moment for us. Second ship and floor price next.

Bernard may mention something about Nielle or he may leave it until after the floor price we will see.

Kodal not quite one in a million but certainly one of very few explorers who manage to get to a revenue producing junior miner.

Superb job.

Excellent and we flip straight to taking stock to the dock for the next ship.

Quick loading, 30,000 tonnes in under 24 hours.

Look forward to the interviews.

P119 cranes/grabs are relatively slow.

My fastest example is conveyor.

Elcobble, re ship loading it is impossible, unless you get very detailed information or visit the port to know what speed they can be loaded.

A slightly more dense material in the quickest here that I know of can hit 6,000 tonnes per hour. In the UK.

Https://www.linkedin.com/posts/kodal-minerals-plc_lithium-aim-criticalminerals-activity-7400136114516279296-G9ST

George that Spodumene spot price is well over your target.

Https://m.miningweekly.com/article/barrick-to-pay-430m-to-settle-mali-gold-mine-dispute-bloomberg-news-reports-2025-11-25