Kodal Minerals (KOD) AI Stock Analysis

• Market Cap: £101.40M
• Dividend Yield: N/A
• Average Volume (3M): 47.52M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.20
• Revenue Growth: N/A
• EPS Growth: -133.33%
• Country: UK
• Employees: 60
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 20,280,700,000
• 10 Day Avg. Volume: 40,145,219
• 30 Day Avg. Volume: 47,521,392
• PEG Ratio: 0.06
• Price to Book (P/B): 1.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -32.64
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £1.00
• Price Target Upside: 100.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: 0.49p ▼(-1.40% Downside)

The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow), partially offset by a debt-free balance sheet. Technicals show a strong uptrend, but overbought momentum indicators increase near-term risk. Valuation is constrained by negative earnings and no stated dividend yield.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet provides Kodal Minerals with financial stability and flexibility to invest in growth opportunities without the burden of interest payments.

Strategic Financing

The strategic financing supports the Bougouni Lithium Project, enhancing operational capabilities and positioning the company for future growth through improved market presence.

First Spodumene Production

Achieving first spodumene production marks a critical milestone, enhancing Kodal's competitive position in the lithium market and signaling operational progress.

Negative Factors

Lack of Revenue

The absence of revenue highlights operational challenges and raises concerns about the company's ability to sustain itself financially without generating income from its projects.

Negative Cash Flows

Negative cash flows indicate ongoing cash burn, which could threaten long-term sustainability unless offset by future revenue or continued financing.

Licensing Delays

Licensing delays can impede project timelines and revenue generation, affecting Kodal's ability to capitalize on its lithium project and impacting operational momentum.

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 Lithium project located in southern Mali. The company holds a 100% interest in the Bougouni West lithium project, which covers an area of 200 square kilometers located in southern Mali; and holds 100% interests in the Nangalasso project located in southern Mali, the SLAM Project located in Mali, the Dabakala project located in central Cote d'Ivoire, and the Korhogo project located in north central Côte d'Ivoire, the Nielle project located in Côte d'Ivoire, and Fatou project located in southern Mali. The company was incorporated in 2010 and is based in London, the United Kingdom.

How the Company Makes Money

Kodal Minerals makes money through the exploration and development of mineral resources, primarily focusing on lithium and gold. The company's revenue model is based on advancing its mineral projects to increase their value and attractiveness to potential buyers or partners. Key revenue streams include the sale of mineral rights, joint venture agreements, and potential future production revenues from mining operations. Significant partnerships, such as strategic alliances with other mining companies or investment entities, can also contribute to the company's earnings by providing funding and technical expertise required for project development.

Kodal Minerals Financial Statement Overview

Summary

Kodal Minerals shows a strong balance sheet with no debt, but the absence of revenue and negative cash flows indicate operational challenges. Although net income has improved, the company's long-term sustainability depends on generating revenue and reducing cash burn.

Income Statement

Kodal Minerals has reported zero revenue consistently, indicating a lack of operational income. However, the company shows a significant improvement in net income for 2024, transitioning from losses in previous years. This could be a result of non-operational income or strategic financial adjustments.

Balance Sheet

The balance sheet is strong with no debt, leading to a debt-to-equity ratio of 0, which is favorable in terms of financial leverage. The equity ratio is high, reflecting financial stability. However, the company has not generated revenue, which might affect long-term sustainability unless operational performance improves.

Cash Flow

Operating cash flow remains negative, yet there is significant improvement in cash position due to financing activities. The free cash flow remains negative, indicating ongoing cash burn, which could be a concern if not offset by future revenue or continued financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-16.67K	-16.67K	-13.14K	-15.31K	-6.92K	-5.83K
EBITDA	-1.75M	-1.81M	-1.77M	-1.45M	-896.17K	-585.04K
Net Income	-9.54M	-11.03M	27.19M	-1.46M	-903.09K	-623.37K
Balance Sheet
Total Assets	45.79M	45.79M	57.57M	12.50M	13.26M	8.71M
Cash, Cash Equivalents and Short-Term Investments	16.89M	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	208.32K	208.32K	139.30K	406.34K	624.62K	658.71K
Stockholders Equity	45.58M	45.58M	57.43M	14.88M	12.09M	12.64M
Cash Flow
Free Cash Flow	-2.50K	-2.61M	-5.27M	-3.24M	-1.11M	-2.08M
Operating Cash Flow	-2.44K	-2.44M	-2.53M	-768.24K	-575.52K	-527.78K
Investing Cash Flow	2.73M	2.98M	3.47M	-2.48M	-535.95K	-1.55M
Financing Cash Flow	23.64K	23.75K	14.87M	3.20M	1.96M	3.51M

Kodal Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KOD, the sentiment is Positive. The current price of 0.5 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.32, and above the 200-day MA of 0.32, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 82.76 is Negative, neither overbought nor oversold. The STOCH value of 92.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:KOD.

Kodal Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ZNWD	52 Neutral	£39.32M	-13.18	-7.78%	―	―	-19.57%
ALL	48 Neutral	£80.49M	-22.40	-17.14%	―	―	54.72%
CTL	48 Neutral	£21.31M	-1.52	-35.54%	―	―	―
KOD	47 Neutral	£101.40M	-10.00	-21.41%	―	―	-133.33%

Kodal Minerals Corporate Events

Kodal Minerals Edges Into Production as Bougouni Ships First Lithium Concentrate

Kodal Minerals reported unaudited interim results for the six months to 30 September 2025, highlighting the transition of its Bougouni Lithium Project from commissioning to early commercial operation. Operationally, the company focused on mining and producing spodumene concentrate through the Stage 1 DMS plant, generating about 45,000 tonnes of product at 5.39% Li2O during the period, securing an export permit for an initial 125,000 tonnes and, post-period, completing its maiden shipment of 28,950 tonnes to China, triggering an initial US$21.3m payment. The group recorded a reduced loss of £1.13m, benefited from a profit contribution from its Bougouni vehicle Kodal Mining UK Limited, and ended the period with £15.6m in cash, while also implementing plant debottlenecking, planning further drilling at the Boumou prospect and advancing studies for a Stage 2 flotation plant. Management acknowledged security risks in Mali—after an incident at Bougouni in August—but noted increased military presence and continued strong government support, underlined by the official opening of Stage 1 by Mali’s president, positioning Kodal as an emerging revenue-generating lithium producer amid a recovering but volatile global lithium market.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals Reports First Revenues and Operational Progress at Bougouni Project

Kodal Minerals has announced a significant update on its Bougouni Lithium Project, highlighting the receipt of an initial payment of $21.3 million for the maiden export of spodumene concentrate. The company has resumed operations at its Dense Media Separation processing plant following maintenance and is on track to reach full production capacity. The ongoing mining activities at the Ngoualana open pit are supported by a robust stockpile strategy to ensure continuous supply. Additionally, promising assay results from the Boumou prospect indicate potential for further development, with plans for additional drilling and assessments in 2026.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals’ First Lithium Shipment Departs for China

Kodal Minerals has announced the successful departure of its first shipment of 28,950 tonnes of lithium spodumene concentrate from the Port of San Pedro in Côte d’Ivoire to Hainan Province, China. This marks a significant milestone for the Bougouni Lithium Project in Mali, as it will generate the first revenues from the project, expected to be around US$24 million. The shipment reflects the effectiveness of the transport route and highlights the company’s progress in the lithium market, with expectations of favorable pricing due to recent improvements in the lithium market. The project is the second lithium mine in Mali and is operated by Les Mines de Lithium de Bougouni, a subsidiary of Kodal Mining UK Limited.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals Unveils New Investor Presentation at London Conference

Kodal Minerals has announced the release of its latest Investor Presentation, which will be showcased at the 121 Mining Investment Conference in London. This presentation highlights the company’s ongoing projects and developments, particularly the Bougouni Lithium Project, which has already commenced production and aims to significantly increase its output in the coming years. This announcement underscores Kodal’s strategic positioning in the lithium market and its commitment to advancing its operations in West Africa.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals Celebrates Official Opening of Bougouni Lithium Project

Kodal Minerals has officially opened the Stage 1 Bougouni Lithium Project in southern Mali, marking a significant milestone for the company and the region. The project, which has already produced over 45,000 tonnes of spodumene, aims for an annual production of 125,000 tonnes of lithium concentrate. The opening ceremony, attended by Mali’s President and other dignitaries, underscores the project’s importance to the local and national economy. The first export shipment is expected soon, which will trigger initial revenues for the company and its partners.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals Continues Operations Amid Regional Security Concerns

Kodal Minerals has announced that operations at its Bougouni Lithium Project in Southern Mali are continuing as normal despite recent security concerns in the region. The company has successfully commenced the transportation of over 10,000 tonnes of spodumene concentrate to the port of San Pedro in Cote d’Ivoire, with more shipments expected. The management is currently on-site for a scheduled presidential inauguration, indicating the project’s significance and ongoing development.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.

Kodal Minerals Commences First Spodumene Concentrate Exports from Bougouni Project

Kodal Minerals has announced the departure of the first truckloads of spodumene concentrate from its Bougouni Lithium Project in Mali, marking a significant milestone for the company. The initial shipment of 30,000 tonnes is expected to generate revenue upon loading at the San Pedro port, with further updates anticipated as the export process continues. This development underscores Kodal’s operational progress and potential impact on the lithium market, enhancing its position as a key player in the industry.

The most recent analyst rating on (GB:KOD) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Kodal Minerals stock, see the GB:KOD Stock Forecast page.