Member Info for Laverda

Matt, what rosy picture am I painting?

Just purely where we are, fully funded and permitted to build a mine which will be complete in weeks.

We have two communications from two different sources in two countries and two languages which differ. Quick to resolve in the same country not so quick when requiring a director of a company the size of Hainan with so little overlap in working hours.

100notout-with respect sh£t show is a ridiculous statement.

Currently it is two announcements which differ. That is the only fact.

For once Roger you accurately describe your post.

Matt - share price obsession is your and the other foot stampers.

Not me and not most others.

Most of us are working to inflexion points - this stage is not one of them.

No defending except in your thoughts..

BFD, it may or may not be, we did that deemed in trust business then we are going to transfer the licence.

If it was done simply the bill would lie with the company it transferred out of. But Mali codes cover for all eventualities because they have been had in the past so many times.

I can't decipher any of that stuff with any accuracy.

I am annoyed but I think my annoyance is much different to some posters, not really sure where they are going.

My annoyance is releasing an announcement without running it past Bernard - because we are on the London Stock Exchange and there are rules.

Secondly if Bernard is sure that is what they agreed it kind of sours the relationship a little if we were going to go on with Nielle, Fatou or another. We don't want all eggs in one basket unless we are very confident in our JV partner.

Regarding the money, that bill is there and would be there anyhow, the fact that there is a bill is no surprise at all, the amount we could not calculate we don't have the detail to do that.

A gain is on the previous owner, it was a nice gesture if KMUK funded all of it.

However whichever way you look at it, 49% minimum would have come out of our part anyhow.

We need to maintain a large amount of cash in Kodal PLC, if we are going to use any of it I would like to see a small fundraise to keep a decent fund until we have a few payments from the mine.

Not really sure where all that other stuff is going.

We just need first to find out which communication was wrong.

In their latest communication B2gold say that they entered into a MOU with the government in September.

Lousy journalism again if B2gold told the journalists at the time. The announcements that I read said reached an agreement, a MOU is a completely different level.

There is nothing sudden about the payment, we just did not know how much it was.

I spent ages looking at this before the JV because I wondered if it could be on the full value ie 400m dollars or whatever as lithium was going through the roof. But the workings behind it are anything but straightforward.

I think that the new reference point for future gain is reset too.

You can have hours of fun researching it.

It was ours it went up in value the gain lies with us unless the deal Bernard thinks he struck stands.

Aimforthestarz,

When the JV company writes in Chinese (morphosyllabic system), the mining office in French, mining regulations are some of the most complicated to understand, then you have taxation systems which include royalties, then you move to geology and extraction and processing systems where people are paid large wages for experience and the ability to understand the processes involved. Then currency exchanges, company structures abroad and in the UK plus shares and markets.

Really it is a wonder anyone gets along with anyone else on the chat board.

It is like an ever bigger deck of cards in that happy families game but people are now trying to remember over 7 years plus at times.

PS yes BFD I agree with you, exactly how I thought.

BFD, I looked at this before we had a JV because I was wondering if it was based on the value that JV partner put on the whole project, because that would be a massive chunk of cash and may require dilution.

Luckily I could find it again for this.

So this bill would normally be with us.

However in the MOU it was going to be paid by KMUK and we did not need to compensate that - so I thought happy days.

So if we pay we probably should have paid anyhow if not it is a bonus.

But just on the RNS business it is slap dash. Hainan must have approved our RNS (as Bernard talks about an agreement) and Hainan issued one from Hainan directly without running it past Bernard and it is different.

I imagine that Bernard is meant to keep every Hainan communication involving the JV and date of release to satisfy our stock exchange that nobody is given an advantage.

TT501

No guess it is in the 2019 code:

Broader capital gains tax: the capital gains tax continues to apply to the gains generated by a direct transfer of a mining title and is further extended to an indirect transfer of such mining title, as well as to the direct and indirect transfer of shares in the capital of a titleholder. Note that capital gain tax would apply to any direct or indirect transfer of shares, irrespective of whether a change of control has occurred. Capital gains will be taxed in accordance with the provisions of the General Tax Code.

Paul the bill should have been with us because this process had to happen and we are making money from the JV.

The gain is ours.

Surprisingly it was being funded, it appeared, by KMUK and not directly by us.

But the RNS issue created the stock market drop. We may get an RNS in the morning - I have no idea if Hainan have to do the same on the Chinese markets.

You can tell me how they work. Not a clue. Do they still stop for lunch?

Roger where on earth did your 10% come from?

That is your error.

Try reading things properly.

100notout - your post is all thoughts only not fact.

The fact from the RNS is very simple two announcements went out from two companies and they don't match.

One is incorrect.

That is all.

Matt, not quite sure I share your lost investment in smoke routine - even if we pay as far as the mine and investment goes it will be little difference.

Remember most of us on the board in our heads are still working on the original predictions not on the 3 and 4k lithium prices.

If it was just an error I am sure that the London stock exchange will be looking at it if it swings beyond their parameters for AIM, but there isn't much they can do if a thousand British Chinese make a few million off investors who sold out.

Everyone could make up all sorts of theories but who could prove it.

100notout. Now you are showing your true colours not an investor at all.

Read the RNS.

One of the two announcements IS incorrect it doesn't take a genius as that is obvious, so one needs correcting.

They are in two different time zones and two different markets so it is not straightforward, one company cannot make the same mistake as Hainan did and release without the other ones authority.

It triggered London Stock Market rules therefore where we are.

Like everyone else you will not know until they inform us.

Then you can tell us all how you knew anyhow.

GL - they will want to make sure the next RNS is correct.

Obviously one of them, either ours on the London Stock Exchange or Hainan's in China was incorrect and needs correcting.

Time difference is an issue depending upon where Bernard and or the key Hainan people are.

With that overlap it may be difficult to do today, they both have to be written, proof read by both parties and signed off.

Speaking of which you can be sure Bernard sent them our RNS to check before release.

If it was a communication error on Hainan's part, they have two hours overlap to send a message to both markets.

I see this RNS as stating Kodals own previous RNS is not incorrect, re states the agreement outlined in the previous RNS as per stock exchange rules.

Will speak to Hainan and then a following communication will be sent once there is something to communicate.

Not sure what else people are seeing.

Just annoying that Hainan did not show Kodal the announcement before release as they need to be proof reading before release.

Don't want it to spoil their relationship.