Kodal Minerals (KOD) AGM 2026 summary

Opening remarks and agenda

• All AGM resolutions passed with over 90% approval, except for the withdrawal of resolution 3.

• AGM held on 24 June 2026, including a presentation, Q&A, and addressed pre-submitted shareholder questions.

• Steve Zaninovich did not stand for re-election as director and was thanked for his contributions.

Board and executive committee updates

• Leadership team highlighted, including CEO, chairman, non-executive director, and compliance head, with new non-executive director from Hainan Mining joining in March 2024.

• Acknowledgement of key team members in Mali and Côte d'Ivoire for operational success.

Financial performance review

• Transitioned from exploration to a 32% stake in an operating, cash-generating lithium mine.

• Bougouni Lithium Mine generated $27.2 million from its maiden spodumene shipment; third shipment interim payment was $34 million.

• DMS plant produces 120,000 tonnes of concentrate annually, generating ~$250 million in revenue.

• Revenue now exceeds $51 million, with strong margins and robust cash flow; company is well funded with over £14 million available.

• Bougouni operation has commenced repayment of shareholder loans, indicating potential for future distributions.