Member Info for Potatohead

A few months ago, the spodumene price was $625, with the lowest KOD share price at around 0.0025p. The spodumene price is now $1,440, but this increase is not reflected in our share price. We don't know what's going on, but whenever we see a rise, someone sells into it. Yesterday, I noticed that one million shares were sold throughout the day and another million this morning.

The spodumene price is going up. This is bad for our share price. The quicker we get a takeover the better.

Firstly, the term 'mug punter' is not one I would use to describe myself. I always conduct thorough research before investing. When I saw the presentation and photographs of the flooded pit two weeks ago, I did ask why there were pictures of a flooded pit. I also asked others on this forum whether the pit was flooded. Why didn't they tell us whether or not the pit was flooded? Why were photographs of the flooded pit included in the presentation? Other users of this forum said that Bernard was using stock photographs and that they were months old, and that there was no need to worry. Then, at our last presentation, we found out that the pit was flooded.

They could have informed us that the pit was flooded. Instead, they provided two photographs of a flooded pit, leading us to believe that the images were several months old. Then, we received another RNS informing us that the pit was indeed flooded. We were also told that we would receive only $770 per tonne, which makes mining the ore virtually unprofitable at that price. The RNSs we have been receiving are not good enough to stimulate the market and encourage new investors — they are doing the exact opposite.

The basic ASIC price for us is $647, but we only own 49% of the mine. Taking into account the 32% Malian government tax, mining the ore at that price ($770) is barely worthwhile, leaving virtually no profit for Kod.

It's not the trolls or de-rampers that are affecting the share price, but the awful RNS releases that we have been receiving lately. Yesterday's release stated that we were receiving $770 per tonne, whereas two weeks ago, an RNS stated that we were receiving $930 per tonne. The spodumene price is now $1,326 for 6%, but for the 5.39% that we produce, the price is just $1,191, which was $1,060 at the time of shipping. These discrepancies are what's affecting the share price.

I see that nobody has posted the latest spodumene spot price yet. Well, it's currently $1,326. It's great to see the price of spodumene increase, isn't it? It's a pity that this increase is not being reflected in our SP, though.

There is no need for trolls or de-rampers on this forum. Our RNS is sufficient for that purpose. I'm a bit disappointed with the share price. I'm trying to work out how much I'm willing to lose. It's a pretty dire situation after more than four years, especially with the spod price going up again.

The spodumene price is going up and up while we're getting next to nothing for our ore. The spod price has doubled since the summer, but our SP price has barely moved. I am disappointed.

The price we received for our ore has dampened the positive impact of this RNS. This seems to be a regular occurrence lately: we receive a great RNS, but there's always something not quite right in the background.

I thought we were getting more than $920 per tonne, which I thought was rather low, but now we're getting just $770 per tonne. There is no clear explanation for this discrepancy. Spod at 5.39% was valued at £1,060 on the day of the first shipment. Why, then, has the price ended up at $770?

I've just received an estimate of the shipping costs for iron ore from South Africa to China, which is around $14 per tonne. Therefore, shipping 30,000 tonnes would cost $420,000. Does anyone know more about shipping costs? It would be good to see a breakdown of these.

BFd...

'Hainan can set a floor price substantially above the spot price and still make a good profit.'

Yet they gave us $930 per tonne when the spot price for 5.39% was $1,060.

If the price of spodumene continues to rise, as seems highly likely, we could be ripe for a takeover. However, how much Hainan will offer us is another matter. With our SP currently hovering around 0.0030p and SC continuing to sell in the background, it's hard to predict what we might be offered.

Our partner, Hainan, converts our spodumene into lithium hydroxide.

Depending on extraction efficiency, you would require approximately 6.5 to 8.5 tons of spodumene with a lithium content of 5.39% to obtain 1 ton of lithium hydroxide.

As of 16 December 2025, the price of lithium hydroxide is around $10,573.71 per tonne.

Hainan pays us $930 per ton of spodumene, so they are making a substantial profit producing hydroxide with our spodumene.

Stage one is definitely profitable at $647, but it has an LOM of only six to seven years. We need an update on the cost of stage two, as this would provide more clarity on the market.

AISC ($647): Stage 1: 'Not FS-predicted future average prices.'

George....

Nobody knows what the future price of anything will be. If we did, we would all be billionaires.

Bernard should really update the shareholders on the cost per tonne produced in Stage 2.

The Bougouni project has two stages. Stage 1, Dense Media Separation (DMS), cost $647 per tonne.

Stage 2 will consist of a flotation plant due to commence operations in 2028 at a cost of $2,000 per tonne.

This information is at least 18 months old.

We would need a spod price of $2225 if we supplied/produced it at 5.39. Before he released the $2,000 RNS, people assumed it was $647, and the SP has never been the same since, as there is an obvious difference between $647 and $2,000.

SpecialValue: A good comment, and I bet most of us would like to see the updates you mentioned.