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Kodal Minerals (KOD) investor relations material
Kodal Minerals H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Transitioned from exploration to commercial operation at Bougouni Lithium Project, with first spodumene concentrate exports initiated post-period end.
Export permit for 125,000 tonnes granted; first shipment of 28,950 tonnes completed in November 2025.
Security measures increased at Bougouni due to regional instability.
Final assay results at Boumou prospect confirmed wide, high-grade pegmatite mineralisation.
Financial highlights
Loss for the six months to 30 September 2025 was £1,131,000, down from £1,486,000 in H1 2024.
Share of KMUK's profit was £218,000, including a £4.4m foreign exchange gain.
Cash balance at 30 September 2025 was £15.6m (H1 2024: £18.1m); £15.0m as of 17 December 2025.
Post-period, received $21.3m for maiden export shipment.
Outlook and guidance
Expectation to export 125,000 tonnes of spodumene concentrate over the next twelve months.
Stage 2 flotation plant development at Bougouni planned for 2026.
Ongoing M&A strategy in critical minerals and precious metals in West Africa.
- Achieved first lithium production at Bougouni, secured offtake, and maintained strong liquidity.KOD
H2 202525 Feb 2026 - Production ramps up with strong cash, full offtake, and export plans in place.KOD
Status Update26 Nov 2025 - Steady production, export readiness, and growth plans drive a positive outlook amid regional risks.KOD
AGM 202530 Sep 2025 - Bougouni Lithium Project nears production as strong cash reserves support ongoing growth.KOD
H1 202515 Sep 2025 - Bougouni Lithium Project fully funded, with first production expected by end-2024 and strong profit.KOD
H2 202413 Jun 2025
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