Kodal Minerals (KOD) AGM 2026 summary

Opening remarks and agenda

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

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

• Steve Zaninovich did not stand for re-election as director but will remain available for consulting.

Financial performance review

• Bougouni mine generated $27.2 million from its maiden spodumene shipment and $34 million from the third shipment interim payment.

• Annual revenue from Bougouni is expected around $250 million at current prices.

• Revenue now exceeds $51 million, with regular shipments planned every 6-8 weeks.

• Company is well funded with over £14 million available and has commenced repayment of shareholder loans.

• The company is debt-free at the PLC level, with only Bougouni operation holding interest-bearing debt to Hainan.

Board and executive committee updates

• Leadership team includes CEO, Chairman, Non-Executive Director, and key managers in Mali and finance.

• New non-executive director from Hainan Mining joined in March 2024, strengthening ties with funding partner.

• Acknowledgement of the contributions of outgoing director Steve Zaninovich.