Member Info for straightntrue

NED - Have sent you lots more information but there is even more !!

shaun86 - If you had bothered to read my post replying to similar comments from dazaliam you would know the answer to your questions.I am still invested because I believe in the project but not the man at the top who I suspect will dilute present holders investments to oblivion as he has done before.I am warning shareholders of the dangers they face by believing that Aylward is working in their interests and can be relied on implicitly to bring them untold riches.A certain fund manager recently claimed to do that but sadly the result was very different.I am not advising shareholders to sell but rather warning them of the potential pitfall that may lay ahead.

NED - Right that is not what you put earlier - I will try again.

NED - see my post of 19.45
Googlemail says your email address does not exist

Sorry that last message was to NEDHAMMER

Have tried to forward some of my research but it keeps coming up that your address is "not recognized" and asks me to check address !!!

Simple - the man at the top earns the big bucks and has to carry the can and answer when things don't go to plan.However all that Bernie seems to do is refuse to talk to shareholders concerns whilst continuing to draw his salary and look for ever more jobs on the side whilst continuing to FAST TRACK Kodal 's project FULL TIME. Interesting to see presentations for Taruga Minerals are always FAST TRACKED too !!!

When you are so far down on your investment it is difficult to say enough is enough and sell up.Especially when the problem lies in the management and NOT the project itself.Attending the AGM is the ONLY chance to try and nail them to get an answer to your questions since they continue to ignore all emails. NO not just a regular Director - maybe a regular AUSTRALIAN director.Any other questions Daz ?

Worse !!!

Will do but sitting down to eat soon so may not be for an hour or so

No problem but be warned there is LOTS and LOTS of it - literally probably in excess of a hundred hours solid work

Would not miss it for the world although I will not be shaking his hand as I need all of my fingers myself !!!
Oh and feel free to send it to him as I have asked the Company NOMAD as to why Aylward never told the market about the Azumah situation. ATB All genuine shareholders here

Bearing in mind Aylwards lack of commitment to Kodal Minerals - he has NEVER actually bought any shares in the company - I would not be the slightest bit surprised if he plays this out as in his previous companies and having bled Kodal Minerals dry with his excessive unjustified salary he runs off back to Taruga Minerals where he holds over 3% of the company shares maybe even taking his gold projects that he loves so much with him.It is interesting to read his write-ups in the latest Annual Reports of each at his other "jobs" - Taruga Minerals and Lachlan Star.Normally a Director will first state his role and duties at his present job and then go on to mention positions held at former employers but this is not the case with Aylward as you can see that his position at Kodal is only mentioned in the list of present directorships. Maybe he/they already knows he is on the way to the exit !!!!
https://www.asx.com.au/asxpdf/20180928/pdf/43ys41lhp4xf80.pdf SEE PAGE19/20 https://www.asx.com.au/asxpdf/20180928/pdf/43ytdskhw1n5x4.pdf SEE PAGE 7
I do not believe that Aylward is the right person to take Kodal Minerals forward to production and I would prefer him ousted before he dilutes shareholders interests to oblivion to feed his greed.
As anybody that has ever tried researching companies on the Australian Stock Exchange can confirm it is very difficult to find ANYTHING out about them as The Australian Stock Exchange does not even reveal Company Directors names let alone salary/history details.
My research that has revealed the above findings has taken tens of hours checking through literally thousands of documents looking for a name or address so I will have missed even more things that the wrongdoers do not wish the general public to know about and I have LOTS more examples of suspicious dealings by Aylward and his club so if anybody would like to know more just ask !!!
As a final little teaser just look at the Company Aylward had shares in https://malilithium.com/pdfs/NoticeOfGeneralMeeting21Apr11.pdf SEE PAGE 19 OF 20
NOW I WONDER WHY HE HAD THEM ???

I am sorry for the difficulty reading the posts - I prepared them on a different format and tried to transfer them across without success.

I have millions of shares in Kodal so I am NOT trying get price lower to buy more shares before anyone accuses me of that ploy !!

So Aylward has been integral in the exploration of the same projects and instrumental in their transfer from International Goldfields Limited to Pelamis Investments Limited to Taruga Gold and now Kodal Minerals and each time they have been summarily "dumped" in favour of newly bought replacement assets.The ONLY beneficiary of this "back hopping" has been Aylward who continually goes along with the assets from one "run dry" company to a whole new bunch of unsuspecting shareholders in the proverbial RINSE AND REPEAT.
Now from LAST YEAR'S Annual Report Aylward is getting "cash" payments of around £115,000 per annum plus "share based" payment of around £148,000 for supposedly working "full time" for Kodal
https://kodalminerals.com/wp-content/uploads/2018/07/251003-Kodal-WEB.pdf SEE PAGE 28
But from their announcements he is also employed "full time" by Taruga Gold (now Minerals) and indeed many of their "competent person" statements in their various notices are attributed to him https://www.asx.com.au/asxpdf/20161031/pdf/43cjblyq13ts2d.pdf SEE PAGE 2
Their recent interim report shows him as a non-executive Director https://www.asx.com.au/asxpdf/20190315/pdf/443jn5hyvd4kvm.pdf
His annual pay at A$24,000 was higher than all other executives which suggests he is rather more than just a non-exec especially since the Company is all but dormant awaiting developments !! https://www.asx.com.au/asxpdf/20180928/pdf/43ys41lhp4xf80.pdf SEE PAGE 25
Ayleward also receives A$24,000 per annum at his latest job at Lachlan Star Limited where he joined his long term chums from Taruga
https://www.asx.com.au/asxpdf/20180928/pdf/43ytdskhw1n5x4.pdf SEE PAGES 2/13
Perhaps the most disconcerting thing for Kodal Minerals shareholders is the application for LITHIUM Exploration Tenements in Australia by Taruga Minerals submitted in late 2017 but still under consideration https://www.asx.com.au/asxpdf/20171026/pdf/43nlpr03l03xpb.pdf
Taruga is also targeting cobalt - the other "hot" commodity - in Australia on an existing exploration licence area E51/1832 https://www.asx.com.au/asxpdf/20190315/pdf/443jn5hyvd4kvm.pdf SEE PAGE 12
And they are already involved in Cobalt-Copper projects in the DRC https://www.asx.com.au/asxpdf/20190315/pdf/443jn5hyvd4kvm.pdf SEE PAGE 3

Then came the fateful day that Kodal Minerals entered 7/04/16 https://www.asx.com.au/asxpdf/20160407/pdf/436cr52vcpxbm6.pdf
In the Kodal announcement of the deal there was no mention of the Diendo project being purchased https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/w6en2qr
However,Kodal went onto purchase a 90% interest in the amazingly similar named Diendio project
which even more amazingly had exactly the same concessions within !! 28/11/16 https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/w9v3ogx https://www.asx.com.au/asxpdf/20150430/pdf/42y8l1tdcr9rh0.pdf SEE LAST SHEET
After negligible work on these recent purchases from Taruga Gold the focus of Kodal was totally
changed with the purchase five months later of a potential high grade Lithium project in Southern Mali 30/08/16 https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/w3d32yx

Aylward resigned from the board of Directors at IGL 3/05/13 https://www.asx.com.au/asxpdf/20130503/pdf/42fpp0dcrdl7f0.pdf
But Aylward was already a director at Taruga Gold Limited 1/11/11 https://www.asx.com.au/asxpdf/20111221/pdf/423f4r05pq5r2q.pdf SEE PAGE 132
So Aylward was taking around A$270,000 per annum EACH from IGL and Taruga but he still had
time to allot himself 7.5 million Taruga shares at A$0.0001 each -
YES ONE HUNDREDTH OF A CENT EACH SHARE !! 21/10/11 https://www.asx.com.au/asxpdf/20111221/pdf/423f4r05pq5r2q.pdf SEE PAGE 106
This in addition to the previously discussed 12.5 million shares at A$0.10 for his Ghanaian "asset" 6/12/11 https://www.asx.com.au/asxpdf/20111221/pdf/423f4r05pq5r2q.pdf SEE PAGE 133
Taruga Gold announced they had agreed to purchase land in Mali and Cote d'Ivoire held in
holding company International Goldfields (Bermuda) Limited 30/07/13 https://www.asx.com.au/asxpdf/20130730/pdf/42hb19b2gc4h1c.pdf SEE SHEET 4
But remember Aylward was already a director there
https://www.gov.bm/45199/international-goldfields-bermuda-limited-bernard-aylward-45199
To get round this problem another entity was stated as being the vendor of
International Goldfields (Bermuda) Ltd
https://leifinder.com/lei/2138001MM9FSD1739G47/pelamis-investments-limited
Now Pelamis Investments Limited is controlled by the Steinepreis brothers who are another
entity that Aylward has built up too cosy a relationship with (continuing today) that various
groups of shareholders have paid dearly for.
Calling them vultures seems too demeaning for the animal of the same name. https://www.bloomberg.com/research/stocks/private/people.asp?privcapId=245333969
Of the 12.5 million allotted shares only around a quarter went to Pelamis with the rest
going to various trading "associates"
https://www.asx.com.au/asxpdf/20131101/pdf/42kl3fh15l19g8.pdf SEE DEAL DATE 11/9/13
Taruga acquired the "SLAM" project for no cash outlay 27/11/13 https://www.asx.com.au/asxpdf/20131127/pdf/42l5m5x96c45rm.pdf
The limited work performed centred on the Nangalasso project with the Diendo project
- the centre of previous owners IGL exploration - largely ignored and in fact actually
disappeared from Taruga's list of assets held. Note the difference between list of assets held on back page https://www.asx.com.au/asxpdf/20150430/pdf/42y8l1tdcr9rh0.pdf https://www.asx.com.au/asxpdf/20151030/pdf/432l3t2xkw3c6s.pdf

NOW FOR SOME HISTORY
Aylward resigned his position at Azumah Resources 1/04/10 https://www.asx.com.au/asxpdf/20100930/pdf/31svb2xncr868p.pdf SEE PAGE 9
He had already lined up a job at Corvette Resources 12/04/10 https://www.asx.com.au/asxpdf/20100323/pdf/31pf3z4tm72bt0.pdf
Corvette's name changed to International Goldfields Ltd. 6/12/10 https://www.asx.com.au/asxpdf/20101203/pdf/31vcp1j5j4rwyn.pdf
IGL lodged applications for licences on land acquired
in Mali which although named differently were eventually
to be known as the Nangalasso and Diendo projects.
https://www.asx.com.au/asxpdf/20110420/pdf/41y5112nv63mqb.pdf
The assets were held in especially newly set up IGL
subsidiary International Goldfields (Mali) Sarl 20/04/11 https://www.asx.com.au/asxpdf/20110929/pdf/421dssjhbqcp64.pdf SEE PAGE 63
Aylward appointed to main IGL board at A$270,000 pa !!!! 30/06/11
https://www.asx.com.au/asxpdf/20110630/pdf/41zj7zxnmm544w.pdf
The limited activities that were performed were
concentrated on the Diendo project and the next
Annual Report confirmed Mali assets position unchanged 30/06/12 https://www.asx.com.au/asxpdf/20120920/pdf/428vbc5b027j14.pdf SEE PAGE 71
IGL announced the sale of their Malian and Ivorian assets 30/04/13 https://www.asx.com.au/asxpdf/20130430/pdf/42flvj4gj1n0qb.pdf
Despite ZERO details ever being announced the assets
were now mysteriously owned by a different subsidiary
International Goldfields (Bermuda) Limited the directors
of which were old chums Aylward and Luke Bryan
https://www.gov.bm/45199/international-goldfields-bermuda-limited-bernard-aylward-45199
Equally strange the identity of the purchaser was never
disclosed either then or later nor any payment of the
agreed purchase price being received although the cash
element of the deal appeared to have been dispensed with. https://www.asx.com.au/asxpdf/20141001/pdf/42slkypvltkqqg.pdf SEE PAGE 4

As has become the norm throughout his most recent appointments Aylward was paid a company busting salary of A$270,000 per year which very nearly bankrupted the company had it not been for the regular fund raisings. In July 3013 Taruga bought more assets very familiar to Aylward and subsequently sold them onto Kodal Minerals with Aylward unfortunately coming along for the ride.
https://www.asx.com.au/asxpdf/20130730/pdf/42hb19b2gc4h1c.pdf https://polaris.brighterir.com/public/kodal_minerals/news/rns/story/w6en2qr
Most viewers at the time were unaware that Aylward never actually left Taruga Gold and indeed it was stressed in a Taruga Gold RNS at the time that Aylward was remaining as a FULL TIME employee there https://www.asx.com.au/asxpdf/20160728/pdf/438w76zvctsh0v.pdf SEE PAGE 4
Indeed all future declarations that needed official ratification by a "competent person" were duly authenticated by Aylward so he was drawing a salary from both companies with each claiming that Aylward was working full time for them !!!

This to my mind amounts to an official censure for Azumah Resources for not checking the relevant parties holdings notices which I would have thought would have been automatically done if the official template had been followed rather than sidelined by persons unknown.
https://www.asx.com.au/asxpdf/20061018/pdf/3z23lzdw33c9g.pdf https://www.asx.com.au/asxpdf/20061026/pdf/3z6yybgrr61hs.pdf
Page 3 of the provisional order suggests to me that time wasting tactics had been used by the suspect parties to make full definitive findings impossible because of the severe time limitations.
I move onto the parties involved in the non-disclosure episode which all share the same Isle of Man premises and officers which makes it very difficult not to assume they are actually one and the same entity. https://www.asx.com.au/asxpdf/20061026/pdf/3z6yybgrr61hs.pdf
These companies would all appear to be under the control of David Harper with the assistance of other staff members at Geodrill Limited
http://www.geodrill-gh.com/about-us/board-of-directors
http://www.geodrill-gh.com/about-us/management-team
You would have thought that the Azumah events would have had such an effect as to deter any future collaboration but not for this lot - in fact they became even more devious.The company concerned was called Taruga Gold Limited and was introduced to the Australian Stock Exchange in late 2011 with the Directors being Bernard Aylward and Athena Resources Directors Edmond Edwards and Peter Newcomb. https://www.asx.com.au/asxpdf/20111221/pdf/423f4r05pq5r2q.pdf As with Azumah the Company was incorporated to buy two assets from one of the associated companies ultimately controlled by Harper but this time Redstar Resources Limited (see page 133/4 of prospectus.) Interestingly this time another asset was being bought from an outfit called MGS Ghana which some of you will know to stand for Matlock Geological Services Pty Ltd - 100% owned by Bernard Aylward himself (see page 133 of the official prospectus.) Each "asset" was purchased for the princely sum of A$1.25 million in Taruga shares and basically turned out to be nothing more than a collection of permit APPLICATIONS costing virtually nothing.In what appears to be a total scam over the following months the company gradually dropped each and every "asset" was discontinued after mostly minmal or in some cases NO exploration work being undertaken.A serious hit to Taruga shareholders but a "nice little earner" for Aylward and Harper !!!

Reading comments from various posters on these pages it appears that some regard Bernard Aylward as some kind of revered guru that will solve Kodal's shareholders' problems for them whereas the exact opposite is closer to the truth. A company named Azumah Resources Limited was introduced to The Australian Stock Exchange in early 2006, the Directors being Malcolm Macpherson,Stephen Ross and Bernard Aylward. https://www.asx.com.au/asxpdf/20051107/pdf/3t59pmx93r480.pdf
Nothing eventful there but,in defence of a shareholders demand to oust some of the Board,certain serious non-disclosures in the original prospectus was found by Malcolm Macpherson and Stephen Ross and were reported to the Takeovers Panel in late September 2006.
https://www.asx.com.au/asxpdf/20060926/pdf/3ynywzpdpqrhk.pdf
By this time Aylward had already mysteriously resigned from the company only to return the following year.For the moment I will delay referring to the contents of the complaint but instead deal with the non-disclosure element of the case.Without being an expert in the Australian Stock Market Rules and Regulations I can't see it being too much different from our own where a template exists that all new entrants to the Market works to in compiling there own prospectus and it therefore follows that these "omissions" were by design rather than by accident.Now of the three Directors responsible for the prospectus Aylward had mysteriously gone - raising the question of his prescence there at all - whilst Macpherson became the scapegoat of the whole affair and was dismissed shortly later.Despite hours of research I can find no link between Stephen Ross and the group of companies who were the subject of the non-disclosures fiasco either before or since these events.This is not the case with Bernard Aylward and as far as I am concerned the finger of suspicion can be cast in one particular individual's direction.I will devote a follow-up post to my findings regarding this "group" and will confine this post to the referral to the Takeover Panel which was duly accepted by them the next day. https://www.asx.com.au/asxpdf/20060927/pdf/3yp5rcmxscdb2.pdf
As can be seen from the letter only the most minimal enquiries could be made into the matter since their findings and report had to be submitted to Azumah Resources Limited before their meeting on 3rd November 2006. Subsequently an interim report was submitted on 18th October 2006 and the Panel Final Orders were announced on 26th October 2006 confirming the serious non-disclosure of the various party holdings in the Azumah Resources prospectus.