KODAL MINING UK LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared cash flow forecasts for the period ending 31 December 2024. The forecasts show that the company has sufficient cash resources available to allow it to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. KODAL MINING UK LIMITED · parent
   1. Bougouni Mining SA 100% · Mali · Mining exploration
   2. Societe de Mines de Lithium de Bougouni 100% · Mali · Mining exploration
   3. Future Minerals SARL 100% · Mali · Mining exploration

Significant events

• “In November 2024, the Company and the State of Mali (the "State") entered into a binding Memorandum of Understanding (the "MoU") to finalise the transfer of the Bougouni Lithium Project mining licence to the established mining company, Societe des Mines de Lithium de Bougouni ("LMLB"), a subsidiary of the Company. Under the terms of the MoU, the parties agreed to a US$15 million cash payment to the State, payable in two equal tranches by the Company, with the first following signing of the MoU and the final prior to 31 March 2025.”
• “In February 2025, the first spodumene concentrate was produced at the Bougouni Lithium Project, and the next twelve months will see the Company take the final steps to become a fully fledged lithium producer in West Africa. The transition from developer to producer is a significant evolution in the business and scale of operations at Bougouni, bringing with it many challenges as well as opportunities, and the board remains focused on the successful execution of this important milestone.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -77.4%

  £90,942,333 → £20,526,869

• Net assets

  -30.2%

  £94,300,925 → £65,821,094

• Employees

  +300%

  2 → 8

• Operating profit

  -57,879.5%

  -£51,575 → -£29,902,946

• Profit before tax

  -55,120.2%

  -£51,575 → -£28,479,831

• Wages

  +690.6%

  £24,016 → £189,860

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers