Member Info for Painless

Next door at ganfeng they started production on 15th December last year and have only just started exporting with a granted export license 6 months later

We started in February. So maybe a month to wait. Give or take. This is Mali after all

I’m not pitching to investors.

I’m just saying it how it is. People can sell up here. Buy in somewhere else and probably get diluted. Or they can wait for news. I believe this to be a good investment with a lot less risk than 90% of aim companies

bernie is a great man to have in charge. all the problems have been down to the mg. he could not of foreseen the new mining code would have delayed the build and the delay in the export license or the spod price fall.

the only criticism i have is the problem with the 15 million in tax that wasn’t written into the agreement with hainan.

at the moment. we are where we are and no amount of ******** about bernie is going to raise the price.

so if you’re unhappy sell and try your luck elsewhere. if you’re in it for the long term hold. kod owes you nothing.

I don’t think Bernie is bothered about the sp level. He’s in it for the long haul and knows KOD is a good bet

I’ve been buying last week at 0.253 and could’ve sold this morning at 0.27 or 28

The spread only applies if you’re buying under 1 million at a time and on some platforms. My broker first direct always seems to get a better deal than the spread.

I’m not so sure it’s one or even two sellers. I think it’s traders and rainbow chasers that are doing this. They got a 10% rise yesterday and are cashing it in today. My average is 31 so I’ve been topping up at anything under 26. Hopefully I can get news on other shares before the license comes though here but I don’t think I’m going to have the time

I’m expecting when the actual figures come out and with the economies of scale kick in. All investors will be pleasantly surprised.

Bernie is still talking about stage two. So even with the price of spod this low he hasn’t given up on the project

His original estimate was calculated on a spod price of 650 per tonne.

I all you LTH know all this but it’s worth a mention

Lav

The figures 647 and 2080 are estimated.

KOD will pay tax on profit and as the sale price is atm 630 were loosing 17$ per ton based on those estimates.

All I’m saying is that we’ve produced 40,000 at a cost a lot less than those estimates of 647 because we haven’t run out of cash yet. Even without the cost of transport.

KOD will pay little or no tax in the first year because they’re input is a lot more than they’re output

MG have obviously agreed the off take price and have come to the realisation that a small profit from their 35% is better than non after the overheads are paid.

With this in mind I think an export license will be granted this week or next.

Lav

2,080 is the average price they expect to receive for the sale of spod over the life of the mine

The opex aisc which is the all in sustaining cost. I E the cost of production and all other cost is quoted at 647

This is from an investor presentation released in February 2025

Lad=Kod

Lad asked for an extension for the second payment on 4th April I think. Haven’t heard anything on it since

I thought 15 million of that 18 million was paid to the MG for the tax ?

Lav

Where it you get the figure 2,080 from?

The 15 million was paid and is yet to be sorted out if Hainan are liable for half.

There can’t be value added tax if we are selling at a loss at the moment and have a 100 million that has been spent on getting to where we are now to be put against any corporation tax

So 20,000 tonnes over 2 months worth at today’s price 12,600,000$ and we’ve not used the full drawdown of 7.5 million.

Even with transport to port costs. That’s a profit.

I’m beginning to think Bernie’s guess of $645 production and transport cost included shipping and was overestimated by quite a bit

If KOD has produced over 40,000 tonnes. What’s funding this. At a cost of $645 per tonne. This is more than the 7.5 million drawn down from the loan and the 15 million paid in taxes. Either the production cost is a lot less or we’ve drawn down the other 7.5 million. If you lot can stop squabbling for 10 min

Do we know what the nameplate figure is as we’re up to 10,000 tonnes a month.

I know this because on the 30th of April we had 20,000 and two months later we’re at 40,000

Over $25 million of spod to ship out and rising

I think this is what the MG have been pushing for and have agreed this is the way forward.

So I’m hoping an export license will be granted soon

Nope. Definitely buys