Member Info for Laverda

This is the RNS, only about the written announcement, nothing about talking to each other or dispute, Hainan offices will be open soon then they can communicate

Kodal Minerals, the mineral exploration and development company, notes the announcement made earlier today by Hainan Mining Co., Ltd ("Hainan") in relation to the binding Memorandum of Understanding (the "MOU") between the Government of Mali, Kodal Mining UK Limited ("KMUK") and KMUK's subsidiaries, Future Minerals SARL ("Future Minerals") and Les Mines de Lithium de Bougouni SA. Kodal summarised the key terms of the MOU in its announcement of 1 November 2024.

Hainan has stated in its announcement today that the US$15 million payment due to the Mali Government by KMUK and Future Minerals is in respect of taxes due to the Mali Government. Hainan also notes that, pursuant to the KMUK financing agreements entered into between the parties on 19 January 2023, taxes arising from the US$117.5m Hainan funding transaction relating to the Bougouni Lithium Project located in Southern Mali (the "Hainan Transaction") shall be borne by Kodal and that KMUK is reserving its rights in respect of any claim against the Company in relation to the US$15 million payment.

Kodal notes that it was not consulted by Hainan on its announcement released today and that the position stated by Hainan is not consistent with the discussions and correspondence between the parties and the Mali Government in connection with the finalisation of the MOU. Kodal's understanding of the position reached with Hainan is that all parties acknowledged that the US$15 million payment would be borne by KMUK.

Further announcements will be made as appropriate.

Rory, where is the mention of a dispute?

I only saw a mention of an inaccurate communication.

What have I missed?

Remember this is about a communication in China not on the stock exchange, in Mali or in the general news.

Kodals RNS was after Hainan offices closed. Kodal had to release an RNS under London Stock Exchange Rules.

Hainan's communications appear through translation to be much looser than here.

Hainan's offices open in the morning and then Kodal can raise it with them. It could just be another RNS.

I wonder how Kodal found out? An investor?

Roger I haven't got a clue where you got a 10% government holding from, you have been here a long time and know better.

The move to the 2023 code loses us around 7%. You sound a lot like fartjet repeating incorrect information.

Roger- lol.

Yeboha, yes, oh so sorry did we write it that way, we will rewrite it immediately.

It is a strange scenario where a non stock exchange company and therefore not under the rules of the stock exchange, release news etc and set off a run.

Loads of little new UK buyers.

This lot seems to embellish things a bit

https://www.mining.com/kodal-disputes-hainans-claims-over-15m-mali-tax-payment/

Https://m.miningweekly.com/login.php?url=/article/kodal-disagrees-with-hainan-statement-related-to-mou-in-mali-2024-11-05

Nettles - the exchange may not think so if it was.

The office at Hainan has been closed since the RNS and does not open for another 10 - 11 hours.

Ups downs it just appears that some disguises slipped on the board today with a couple of posters.

The old duo are amongst us.

Mikb, he just looked as if he had been working hard, he used to fly back then do an interview and often looked like that.

If it is simply that KMUK do pay, but Hainan think Kodal will reimburse due to the details being posted below by vatian, then equally Hainan may not be happy with Bernard if they are correct.

Awkward.

Agree some people have thrown away their cash.

Irritating as it is, and I am as annoyed as anyone else, it is just an irritant.

The exchange may not be happy if it was an error.

A lot of smurfs buying?

100notout, yet you kept saying you invested?

Your posts make absolutely no sense if you believe what you type.

This financially is nothing just a small blip - so that side is relatively unimportant.

The big puzzle is why if they agreed something else change and endanger their relationship?

Unless they knew KMUK would pay - because that is the mechanics of the payment - but as Vatian highlights it can be recovered from Kodal PLC in which case nobody is wrong unless Bernard as he says in the RNS has a communication which amounts to a binding agreement - a bit lax on Hainan's side if they did without a disclaimer.

Elcobble also I am not sure about the mechanics because the payment for that needs in my opinion to come from KMUK. The association is broken now from any other company and should not be opened again. So if Kodal plc pay, they pay into KMUK which in turn pays the government.

Dazguard a bit over dramatic.

It is about where a bill lies.

It was too good to be true, no additional loss of percentage and no bill on our side alone.

However if Hainan just release a different communication everyone needs to be careful about not saying too much.

Vatian, cheers.

Legend only for that amount of cash. I would raise it through shares if it is the case, I would want at least one year of cash in the company.

We still would be ok with the mine.

Just would no longer trust Hainan.

Legend certainly don't want to go in with them on Fatou if it is the case.

Remember Bernard has to send us an RNS in this scenario he can't wait and discuss with Hainan there are strict rules.

This is unexpected.

Matt, it could be an error. As Hop 2 states it is a small amount of money and you would have expected it to be paid by us in some ways.

But apparently the agreement was KMUK would pay, both in government discussions and Hainan written correspondence.

Hopefully an error.

If not it spoils the relationship and we should build the plant build the resource make an offer to Hainan if they won't take it sell elsewhere.