KOD

Kodal Minerals PLC

Basic Resources First-pass screen £63m

360/1000 Overall fit

AI beneficiary 35% 28

Operating leverage 25% 48

Valuation 25% 30

Downside protection 15% 43

First-pass take

Kodal is an early-stage lithium producer without AI exposure. The 2025 filing is operationally detailed but provides no valuation metrics. Downside protection is limited by commodity price risk, single-customer offtake concentration (Hainan 100%), and high geopolitical risk in Mali.

Flags

no-valuation-datacommodity-exposedsingle-customergeopolitical-riskearly-stage-productionloss-making