Keras Resources Share Discussion Threads

[rec0very stock] 26/1/2017 13:23

There is a very real risk that the company could go bust in the near future and the shares are worthless - that is why the auditor emphasised the matter of going concern.

We all hope that will not happen and the ASX listing is really the only thing that will prevent it from happening. I would not want to put a % figure on the probability, as it would only be a stab in the dark. I am hoping that DR and the team in Australia do have the credibility based on past success to pull off a decent ASX listing either dual or of a subsidiary. They will only know whether the ASX listing has worked when they have irrevocable agreements from the investors, that only happens just before listing. I feel ASX investors are more likely to want to put money into a subsidiary of Aussie gold assets than into the PLC and I was heartened to see that option. They must have decided by now which way they are going or the ASX listing will not happen before the bridging loan is due.

As far as fair value of KRS PLC is concerned there really are too many unknowns and unassessable risk factors to determine one. Yes, if everything goes well, KRS is worth many multiples of where it is now. However there have been a lot of false dawns - the reason why I hold such a big stake is because I averaged down on those false dawns and the very real possibility that there will be no dawn and the lights will go out. That is why the AIM share price is where it is. The potential ASX investors at the IPO will not be small PIs who buy in the secondary market. The Aussies do know a lot about mining both the upside and the risks involved, whilst I think there is enough known about Klond for them to want to have a stake in it, I would not expect them to pay over the odds for it on a risked basis.

[novicetrade68] 26/1/2017 13:07

You would expect now to see a holding statement soon of who picked up these 85m as it is more than 3% of the share capital ?

[edgein] 26/1/2017 11:22

Tcmc,

And is Dave not currently overcoming these challenges by finalising an anticipated dual listing? Some investors have the minerals to invest in small cap AIM companies and some don't. Well a lot has happened since August last year as the tribute production wasn't nearly as successful as anticipated. But folks take the rough with the smooth. Also you wouldn't imagine that Klond would add as little as a couple of mill to the cap too as we're valued roughly the same price as we were before the tribute agreements and Klond and had Nayega alone as FRX. These should really be trading like AMC etc were before they received their licence, i.e. £20m+ on Nayega speculation alone. But its AIM after all, many companies are over bought or over sold all the time, but if the market wants to fully discount Nayega so be it. The rise would be that bit more spectacular if they get that three pronged RNS that Dave suggested in the past. With the dual listing in place it would require a trading halt on the ASX and possibly AIM too. But lets get the dual listing finished first though.

Imo Klond will be a company making asset and dilution is part and parcel of getting it progressed. Will the market realise this during the process or will it take much longer. I'm just hoping that the average ASX investor will be a little more clued up than the average AIM investor when it comes to miners.

Regards,
Ed.

[the count of monte_cristo] 26/1/2017 11:08

Edge - You say you focus on where the price is going, would you have thought back in Aug of last year that we would now be sitting at 0.4p

Currently, if you are really realistic then you will see that the company faces many challenges, which RS has stated very well in my humble opinion.

[rec0very stock] 26/1/2017 10:33

I had hoped they would either get the ASX listing done before the 1 Feb loan was due or it would be rolled over until after. Quite a few of those loan note holders have already got more than their original stake back by cashing in on warrants during the spike up to 1.5p.

The sooner we get the ASX listing away and are no longer reliant on AIM the better.

The money raised today only really covers the loan repayment so there will be no real progress on Klond before the ASX listing. The Bridging loan is due towards the end of March I believe so the clock is ticking to get the ASX listing done.

[edgein] 26/1/2017 10:28

TcoMC,

No, I have a realistic view here and elsewhere. You focus on the price now, I focus on where the price is going. If I only posted on the positives I've just responded to you and your concerns over dilution, I don't see dilution as a negative like you were portraying, its a necessity for small non-producers to advance their assets.

Regards,
Ed.

[the count of monte_cristo] 26/1/2017 10:24

Edge - differ, you mean you only look at the positives?

"Nayega, cause if/when they gets the go ahead its a cash cow and low cost development. We may not see that one before the ASX as they're now finalising those plans it seems".

We have been waiting for Nayega for 2 years already, we may wait another 2 years, its completely at the mercy of the government.

Some may fall by the wayside. Yep, been in this now for about 4 years and seen people sell out, mind you if they sold above 1p then they have done better than all of us long term holders.

[edgein] 26/1/2017 10:01

TCoMC,

Well that's I guess where some investors differ. This was always a hold for me for Nayega, cause if/when they gets the go ahead its a cash cow and low cost development. We may not see that one before the ASX as they're now finalising those plans it seems. But fair play if the Ozzies get a crack at Togo too if/when it arrives. The current price is largely irrelevant to me at the moment, I wasn't planning on selling for the next 3-5 years anyways, certainly not now given the potential in and around Klond. Actually I like it when companies get ridiculously over sold as that's historically where I've made my most money. Perhaps too my entry price is reasonable, the bulk bought at 0.3-0.4p, some around 0.6p. I'm looking to load up if some other investments come in too.

Could be 50% could be 100% dilution and an EGM, who knows, best to wait for the structure of the ASX deal to be announced if you're concerned about dilution and fundraising. As long as it funds 12000m of shallow holes and movement to JORC I'll be quite content. The previous talk was of a three pronged announcement for Nayega, DFS release, funding and licence all at once. Now that is the kind of event I'm waiting for, Klond should keep some of us entertained in the mean time. Others will get bored and fall by the wayside.

Regards,
Ed.

[the count of monte_cristo] 26/1/2017 09:39

GD & Edge - I am still positive however, one just needs to look at the share chart to see why some may not see the rose tinted view of others, or that we have just raised 600k at a discount to the current share price mainly to pay off debt due.

I however remain faithful, but prefer to look at both sides of the coin and not just the positives.

How much will the placing on the ASX dilute us shareholders, 50%? On top of the 10% which has happened this morning, billions of shares in issue. Currently 1.6 billion shares in issue.

Regards,
ToMC

[4sta] 26/1/2017 09:18

Seeing the reaction to this placing makes me look forward to the ASX listing. I think a lot of people know of and like the assets Keras have in place. Once the listing and subsequent funding is achieved and we have certainty I think the share price will really motor. Maybe get the pump and dump squad enlisted - at least we have the assets to back it up.

[edgein] 26/1/2017 09:04

GD,

Very true. At least some of us retain a +ve view of our investment.

Regards,
Ed.

[greatfull dead] 26/1/2017 08:47

Ed,

I do remember your post.. No problems with the AIM placing. When ASX placing does go ahead the monies will enable the company to be debt free and give it the ability to grow and grow imo.

ATB,
GD

[the count of monte_cristo] 26/1/2017 08:46

Its positive in terms of the question mark over the payment of the debt due has now been answered. Plus enables continued work on Kl

[edgein] 26/1/2017 08:44

Interesting its all buys so far including the 85m at 0.499. I guess Ed's not the only one that thinks the resources reported for Klond are only a fraction on what's really there. Especially since some of the holes drilled and reported were adjacent to this area. :)

Regards,
Ed.

[edgein] 26/1/2017 08:35

TCoMC,

If you were referring to me, i was talking about the ASX dual listing price not the next listing on AIM. I did mention in a previous post that the company was likely to raise on AIM before the ASX listing as it seemed kinda bleedingly obvious.

Regards,
Ed.

[4sta] 26/1/2017 08:13

What on earth was that? 85 million at 4.999?

[the count of monte_cristo] 26/1/2017 08:07

Placing at 0.35p (note not at a premium like some were saying on here the other day) for 10% of the company to raise 600k to largely pay off debt due (:

[4sta] 25/1/2017 15:06

They state an inclination to start surface mining sooner rather than later, and if anybody can make it happen I believe that Dave will. That could save us from further dilution. Hope your significant investment comes good for you.

[rec0very stock] 25/1/2017 14:54

4STA,

I think (hope) the ASX listing will go ahead or I would not be holding. The Annual Report makes clear it is not guaranteed, it talks about other sources of finance, but I do not believe these are realistic and the bridging loan is due in the not too distant future. I am nervous which is why I will go to the AGM, I am a long way underwater on my holding.

I think the dilution from the ASX listing at PLC or subsidiary level will be significant, indeed I would rather see greater dilution, but sufficient fund secured, than see an obvious need for drip feed placings to get the drilling we need to do done. If the ASX listing either does not happen or disappoints then I will be cutting my losses.

[4sta] 25/1/2017 14:43

Do you actually think that the ASX listing may not go ahead? If so, why do you still hold the 11 million shares that you state, nearly 50k is a lot to risk if you feel things could go wrong.

[the count of monte_cristo] 25/1/2017 13:48

...shame we aren't in graphite or lithium. Still nice to see speculation and interest return to the small cap explorers, check BEM...WAFM out. The small cap explorers have been left out in the cold for about 4 years.

KRS just needs a bit of positive news and it could be our turn.

[the count of monte_cristo] 25/1/2017 13:33

4STA - if you go to the AGM then you can ask these questions.

Not plugging GGP, questions have been asked and I have answered them. Simple. Its not about those initial grades its about the hunt for multi million oz deposits, those grades are not very good, but they 'may' lead to something, potentially a game changer, very early days though. Highly speculative, hence why the stock increase 100% and is now falling back.

For the record I don't currently hold any GGP, but do hold 6m KRS and have been in here for years and still continue to listen to the highly positive updates from DR.

[4sta] 25/1/2017 12:26

RS,
Think you'll agree that most of the companies on AIM rely on the ability to raise funds to further their projects. Isn't that what a listing on AIM is for? At least Keras have excellent prospects unlike many of the others ( who, despite this fact manage to get placings away anyway ).

TCOMC,
Why do you keep plugging GGP on the Keras thread.The one thing I would agree with RS on is that GGP's grades were dreadful and as Edgein has also pointed out there is nothing until over 100 metres down. If I were the board I would save everyone the time, considerable expense and trouble and walk away now.

Edgein,
My thoughts too. think the ASX listing ( and the licence for Nayega ) will be the making of Keras.

[edgein] 25/1/2017 09:24

Here is what the management had to say a couple of months ago:

"Based on significant interest we have received from investors in Australia we are pursuing a dual listing on the ASX. Importantly, strong investor appetite for Australian gold stocks on the ASX positively impacts valuations and we believe this will benefit all shareholders, both in London and Australia, in the future. This will also provide us with the capital to refinance the Acquisition Finance Facility with less dilution for existing shareholders. Our Board supports our Australian gold focus and I would like to thank its members for also enabling our board restructure and in particular. Roy Pitchford's contributions since the formation of the Company, through the Admission process and beyond are greatly appreciated."

Sounds like the Ozzies are keen to get in on Klond as management suggest only a fraction of the resources are covered by the current gold reserves.

Regards,
Ed.