Member Info for Lumipat

Yes, I realise that. We are on the AIM. And yet the classic valuations can also be used here. Don't get me wrong. I am absolutely positive about KOD. But some positive things still have to happen for us to see higher share prices. But that can and hopefully will happen.

I agree with you. There are certainly many positive future possibilities. But your scenarios are all about eventualities, possibilities and future events. These have neither been realised nor are they a done deal...as far as I know. In other words, possible future events that could happen. And earnings per share (per annum) are always used to calculate a fair share price. I have received these figures from the management and they have been confirmed. And then the ownership structure must also be taken into account. And the capacity expansion is also planned and is still a long way off. And the expansion of resources you mentioned has not yet been officially confirmed either.

Hi Rob. Yes it has been confirmed like this. Weeks away...

Hi George

Thank you very much for your comments. I can absolutely understand them. A PE of 5 seems justified to me. As I wrote, I think that the upside potential is currently rather low. Contrary to the messages from other board participants. Unless big news comes out. Like the license issue, for example, or other projects etc. Or the price per ton rises sharply. Then the share price will also move. To the extent that production will take place in the first quarter, of course.

I have been in contact with the managment team. With the numbers i got, i made a calculation of a fair value of the stock. It seems actually we are on a reasonable price at the moment. The licence is still not transfered and it will take a few weeks more. So there is not much up potential at the moment so far.

Approx. Calculation KODAL MINERALS

Total Shares in issue 20247366260

Monthly expected production 10000 tonnes

Yearly expected production 120000 tonnes

Price per tonne expected 810 USD

OPEX AISC per tonne 647 USD

Profit per tonne 163 USD

Total expected profit per year 19560000 USD

Total expected profit per year per share 0.000966052 USD

Actual Share price 0.0052 USD

P/E Ratio 5.382735407