Kodal Minerals PLC (GB:KOD)
LSE:KOD
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Kodal Minerals
(LSE:KOD)
Select Model
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Rating:41Neutral
Price Target:
0.30 p
▼(-5.94% Downside)
Action:ReiteratedDate:03/05/26
The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow) and bearish technical signals (below key moving averages with negative MACD). A debt-free balance sheet modestly offsets risk, while valuation is difficult to assess due to negative earnings and no dividend support.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet materially reduces refinancing and interest-rate risk for a junior developer. This structural strength gives Kodal flexibility to fund near-term exploration or negotiate JV/offtake terms without fixed debt servicing, improving survival odds across development cycles.
Negative Factors
Pre-revenue operations
Being pre-revenue means the business has no operating income to fund development; persistent losses are structural until production or a material farm-out occurs. This elevates execution risk because continued project advancement requires repeated external funding or partner contributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet materially reduces refinancing and interest-rate risk for a junior developer. This structural strength gives Kodal flexibility to fund near-term exploration or negotiate JV/offtake terms without fixed debt servicing, improving survival odds across development cycles.
Read all positive factors
Kodal Minerals (KOD) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£64.18M
Dividend YieldN/A
Average Volume (3M)47.52M
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue GrowthN/A
EPS Growth-133.33%
CountryUK
Employees60
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.00
Shares Outstanding20,373,200,000
10 Day Avg. Volume40,145,219
30 Day Avg. Volume47,521,392
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.87
Price to Sales (P/S)0.00
P/FCF Ratio-32.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1.00Price Target Upside212.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)£52.60M
Kodal Minerals Business Overview & Revenue Model
Company Description
Kodal Minerals Plc, together with its subsidiaries, engages in the exploration and evaluation of mineral resources in the United Kingdom and West Africa. The company explores for lithium and gold deposits. Its flagship project is the Bougouni Lith...
How the Company Makes Money
Kodal Minerals’ business model is to create shareholder value by acquiring, exploring, developing, and potentially operating mineral projects, with a primary focus on lithium. In general, companies at Kodal’s stage can generate cash (i) by develop...
Kodal Minerals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -17.54K | -16.67K | -13.14K | -15.31K | -6.92K | -5.83K |
| EBITDA | -2.50M | -1.81M | -1.77M | -1.45M | -896.17K | -585.04K |
| Net Income | -9.90M | -11.03M | 27.19M | -1.46M | -903.09K | -623.37K |
Balance Sheet | ||||||
| Total Assets | 44.64M | 45.79M | 57.57M | 12.50M | 13.26M | 8.71M |
| Cash, Cash Equivalents and Short-Term Investments | 15.63M | 16.89M | 16.33M | 544.99K | 2.43M | 2.43M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 59.79K | 208.32K | 139.30K | 406.34K | 624.62K | 658.71K |
| Stockholders Equity | 44.58M | 45.58M | 57.43M | 14.88M | 12.09M | 12.64M |
Cash Flow | ||||||
| Free Cash Flow | -1.28M | -2.61M | -5.27M | -3.24M | -1.11M | -2.08M |
| Operating Cash Flow | -1.28M | -2.44M | -2.53M | -768.24K | -575.52K | -527.78K |
| Investing Cash Flow | -184.27K | 2.98M | 3.47M | -2.48M | -535.95K | -1.55M |
| Financing Cash Flow | 64.89K | 23.75K | 14.87M | 3.20M | 1.96M | 3.51M |
Kodal Minerals Technical Analysis
Negative
0.32
Price Trends
0.41
Negative
0.36
Negative
0.34
Negative
Market Momentum
-0.02
Negative
40.17
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KOD, the sentiment is Negative. The current price of 0.32 is below the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.41, and below the 200-day MA of 0.34, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 40.17 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:KOD.
Kodal Minerals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | £32.27M | -9.13 | >-0.01% | ― | ― | -19.57% | |
50 Neutral | £20.21M | -1.11 | -43.43% | ― | ― | ― | |
46 Neutral | £110.60M | -19.26 | -17.14% | ― | ― | 54.72% | |
41 Neutral | £64.18M | -42.09 | -21.41% | ― | ― | -133.33% |
* Basic Materials Sector Average
GB:KOD
Kodal Minerals
0.32
-0.07
-17.11%
GB:ALL
Atlantic Lithium
14.25
5.70
66.67%
GB:ZNWD
Zinnwald Lithium Plc
5.95
1.15
23.96%
GB:TGR
Tirupati Graphite Plc
1.65
-4.60
-73.60%
GB:BHL
Bradda Head Lithium Limited
1.40
0.25
21.74%
GB:CTL
CleanTech Lithium PLC
9.90
-0.35
-3.41%
Kodal Minerals Corporate Events
Business Operations and Strategy
Kodal Minerals tempers expectations over partner’s uplift in Bougouni lithium resource
Neutral
Mar 25, 2026
Kodal Minerals, a West African lithium producer listed on AIM, co-develops the Bougouni Lithium Project in southern Mali with Hainan Mining, holding an effective 49 per cent stake in the operating vehicle that controls 65 per cent of the project. ...
Business Operations and StrategyLegal Proceedings
Kodal Minerals Enters Arbitration Over US$15m Mali Payment at Bougouni Project
Negative
Mar 3, 2026
Kodal Minerals has begun arbitration proceedings with its joint-venture company Kodal Mining UK Limited over an indemnification claim linked to a US$15 million payment made to the Government of Mali in connection with the Bougouni Lithium Project....
Business Operations and StrategyRegulatory Filings and Compliance
Kodal Minerals Confirms Total Voting Rights as Lithium Project Advances
Positive
Feb 27, 2026
Kodal Minerals has confirmed that its issued share capital stands at 20,373,199,594 ordinary shares, each carrying one voting right, with no shares held in treasury. This figure establishes the total voting rights in the company and provides the r...
Business Operations and StrategyFinancial Disclosures
Kodal Minerals Ramps Up Bougouni Lithium Production as First Shipment Delivers US$27m Revenue
Positive
Feb 5, 2026
Kodal Minerals reported that its Bougouni Lithium Project in Mali is ramping up towards planned operating rates, with full payment of US$27.25 million received for a first 28,735 DMT shipment of spodumene concentrate to Hainan, China at a realised...
Business Operations and StrategyPrivate Placements and Financing
Kodal Minerals Issues 92.5m New Shares After Management Exercises Options
Positive
Jan 29, 2026
Kodal Minerals has announced the exercise of options and performance share rights by its chief executive Bernard Aylward and Mali and Cote d’Ivoire country manager Mohamed Niare, triggering the issue of 92.5 million new ordinary shares and r...
Business Operations and StrategyExecutive/Board Changes
Kodal Minerals Reshapes Board as Bougouni Lithium Project Enters Steady Production Phase
Positive
Jan 29, 2026
Kodal Minerals has announced that Operations Director Steven Zaninovich is transitioning to a non-executive director role with immediate effect, as the Bougouni Lithium Project advances from development and construction into ongoing production and...
Business Operations and StrategyExecutive/Board Changes
Kodal Minerals Reshapes Board as Bougouni Lithium Project Enters Production Phase
Positive
Jan 29, 2026
Kodal Minerals has announced a board change, with Operations Director Steve Zaninovich transitioning back to a non-executive director role with immediate effect, following his key involvement in steering the Bougouni Lithium Project in Mali from d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.