Keras Resources Share Discussion Threads

[the skipper] 09/5/2024 11:42

You have to wonder if the market makers are concealing trades here as the two recent news items certainly warrant a much higher market cap. I would also surmise that the two trades marked as sells are the outcome of worked buy orders, as was my 160k buy yesterday.

[apotheki] 09/5/2024 11:15

Keras Resources* (KRS LN) – 2.15p, Mkt cap £1.6m – Togo invites contractor bids for management of Nayega

(Keras holds 100% of the Diamond Creek phosphate mine in Utah, USA)

· Keras Resources reports that activities at the Nayega manganese mine in northern Togo have resumed under the management of the State-owned investment company Société Togolaise de Manganèse (STM).

· Tendering for “the management of all mining and processing activities at Nayéga and a total logistics solution from mine to port … closes on 7 June 2024 and requires the successful applicant to be fully mobilised within 6 months of the tender award”.

· Today’s announcement says that the “timing of the Tender process is very advantageous with regards the manganese market which has rebounded recently from a prolonged low price environment and the Nayéga mine, which is effectively production ready will be able to produce into this rebound in a short period of time”.

· Under the terms of its “cooperation agreement … with the Republic of Togo … Keras has advisory and brokerage agreements with the State where the Company will be paid an advisory fee of 1.5% of gross revenue generated from the Nayéga mine for the provision of advisory services for 3 years and 6.0% of gross revenue generated from the Nayéga mine for the provision of brokerage services for the lesser of 3.5 years or 900,000 tonnes of beneficiated manganese ore produced and sold from Nayéga”.

· CEO, Graham Stacey, said that “progress at Nayéga is very positive for Keras from an additional cashflow perspective and will underpin what has been a hugely productive 6 months at the Company's flagship operation in Utah, USA where its subsidiary Falcon Isle Resources Corp, now operating from its 100% owned facility in Delta, is finalising the construction of a fully integrated granulator plant to produce Phosul® granules under the joint venture with partners, Phosul LLC”.

Conclusion: Production of manganese from Nayega under Togo Government ownership should trigger advisory and brokerage fees for Keras as it advances its Utah phosphate project in joint-venture with Phosul.

*SP Angel acts as nomad and broker to Keras

[markyess] 09/5/2024 09:11

There's certainly worse ways to be wrong, Jim! Take this one with a wry smile and fingers tentatively crossed.

[jimbl] 09/5/2024 08:43

Great timing for my comment yesterday, eh? LOL!

Let's see if this goes anywhere though before we all get too 'excited'.

[the count of monte_cristo] 09/5/2024 08:37

One can understand why the government stole Nayéga from KRS....

[stockriser] 09/5/2024 08:11

cyberbub - There is the news m8 - all good here ;-)

GL SR

[apotheki] 09/5/2024 07:45

Graham Stacey, CEO of Keras, commented, "The mobilisation of key staff at Nayéga and the issue of a request for tender for the management of the Nayéga operation is a significant step forward in the development of this asset which the Company fully supports and is very much in line with the 2023 cooperation Agreement we have with STM and sets a clear picture of how the asset will now be developed to benefit all stakeholders including Keras. We look forward to working closely with the management team of STM.

The progress at Nayéga is very positive for Keras from an additional cashflow perspective and will underpin what has been a hugely productive 6 months at the Company's flagship operation in Utah, USA where its subsidiary Falcon Isle Resources Corp, now operating from its 100% owned facility in Delta, is finalising the construction of a fully integrated granulator plant to produce Phosul® granules under the joint venture with partners, Phosul LLC. The Phosul® production line will augment the already installed processing infrastructure producing sized dry rock phosphate products from the high-grade Diamond Creek phosphate mine. I look forward to updating shareholders on a continuous basis as we move forward on these two fronts."

[the skipper] 09/5/2024 07:22

Excellent news. This will start re-rating now.

[livewireplus] 09/5/2024 07:12

Well, an RNS update for Togo is indeed out this morning ....

[the skipper] 08/5/2024 20:19

It wouldn’t jimbl, but I suspect the wider market might suspect that. Otherwise the share price should be making a rapid ascent back to 4p as I suspect it will when the next financials are published.

[jimbl] 08/5/2024 11:39

Wouldn't look or be good if they didn't have the payment as it equals the same amount of profit previous sales generated prior to the Togo money arriving. Making less sales and therefore less revenue/profit would not be a good indicator of 'growing market share'.

As for Togo, we are still no closer to actually benefitting from our prior ownership. I doubt the gov will ever pay us a $ more.

[the skipper] 08/5/2024 11:14

Today’s trades demonstrate the advantages of having an account with a private client stockbroker since the 160k ‘sell’ is the outcome of a buy order worked over 3 days in the account I hold with Shard Capital. Two of the trades marked as buys are from the account I hold with ii, the 37k using up the spare cash in the account and the 27k from top slicing another holding.

Shard seem very confident that Keras will have enough cash to cover the July payment for Falcon Isle, which makes it a no brainer imo, and I will add again in the weeks to come.

[livewireplus] 07/5/2024 07:42

Apologies- wrong thread for my last post - am still half asleep after the Bank hol

[livewireplus] 07/5/2024 07:08

Kore Potash PLC Secondary Listing on A2X ExchangeSource: RNS Regulatory News

[sclper] 30/4/2024 08:35

Actually phosphate prices in the US rose during the second half of last yearhttps://fred.stlouisfed.org/series/WPU065202

[cyberbub] 29/4/2024 13:49

What Togo RNS is expected? They got the $1.7m and the only remaining income strean is royalties, which are probably some years away as far as I understand it? I may be wrong.

[stockriser] 29/4/2024 11:32

from above - "Q1 sales more than doubled yoy to 1,969 tons indicating a significant increase in revenues for the mine and the jv with Phosul"

Yes but the price of Rock Phosphate dropped 56% in Nov 23, although that fact should already be priced in. The doubling of production will at least compensate for the price drop.

Still a good RNS today ;-)

Come on BoD - give us a Togo RNS

GLA SR

[apotheki] 29/4/2024 10:56

SP Angel . Morning View .

Keras Resources* (KRS LN) – 1.7p, Mkt cap £1.3m – Falcon Isle more than doubles sales in Q1. Commissioning of Phosul joint venture plant to start in May
(Keras holds 100% of the Diamond Creek phosphate mine in Utah, USA)

Kera Resources reports commissioning to start on the Falcon Isle integrated milling and granulator plant in Utah in the second half of May.

The 520tpm plant can ramp up to 920tpm if it moves to double shift working and is a cornerstone of the jv with Phosul LLC.

The plant uses Keras’ high pressure grinding rolls and an HPGR mill from Keras’ original Spanish Fork site.

The jv has added a 5tph granulator plant from a China OEM which will be scaled up to continuous operations by the end of the year.

The Integrated Plant will produce Phosul® granules and will be marketed by Phosul LLC predominantly in the west of the USA

The Phosul® formula uses 80% Falcon Isle rock phosphate from the Diamond Creek mine
The mine will produce and sell some 760tpm at full production to be sold into the jv increasing sales of 50 mesh product for the balance of 2024 and the remainder of the initial five year jv term.

Keras’ Falcon Isle business will continue to produce organically certified 10 mesh and 50 mesh dry sized products with total sales for Q1 2024 of 1,969t, a 109% increase relative to the 941t sold during the same period in 2023 (Q1 2022: 829t).

At full production, the jv is expected to increase Falcon Isle’s quarterly sales of 50 mesh by approximately 2,280t / quarter equating to a 115% increase on the Q1 2024 sales.

100% of the revenue from the sales to the jv are attributable to Falcon Isle with while also sharing 50% in of the profit from the Phosul® product produced from this material.

Demand for Phosul® currently outweighs production capacity at Phosul's Idaho processing plant indicating potential to increase sales from Keras’ Diamond Creek 25,000tpa rock phosphate mine.

The Phosul jv will consume ~10,500tpa of 50 mesh phosphate vs 2023 sales of 2,111t.
Phosul® granules are currently selling for $40 for a 25lb bag on eBay or $75 / 50lb bag on Amazon in the US.

Manganese: Keras sold its Nayega manganese mining project to the government of Togo last year receiving $1.7m in cash along a 1.5% royalty advisory fee plus 6.0% of gross revenue generated from the Nayéga mine for the lesser of 3.5 years or 900,000t of beneficiated manganese ore produced and sold from Nayéga”.

The deal with the Togo government should give nearly $0.9m a year at a price of $3.5/dmt for manganese and production of 7,480tpa equating to some $2.6m over three years.

Manganese ore is currently selling for 4.46-4.60/t for 13% min EXW China and $5.52-5.80/t for 36% ore landed in Quixhou or Tianjin ports in China.

The current price indicates potential for >$3-4m in royalties over the first three years at a production rate of 7,480tpa and potentially up to $14m if production runs at 23,375tpa.

Conclusion: Q1 sales more than doubled yoy to 1,969 tons indicating a significant increase in revenues for the mine and the jv with Phosul.

We look forward to more information on how much of the Phosul product is sold via direct sales and for a forecast on potential Phosul sales for the year.

*SP Angel acts as nomad and broker to Keras

[citys2874] 29/4/2024 08:42

Great update for KRS and INHC can we see these in the top gainers on the leaderboard today....lovely start

[apotheki] 29/4/2024 07:44

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

Q1 2024 Operations and Sales Update

Keras Resources plc (AIM: KRS) is pleased to provide an operations and sales update for the first quarter of 2024. As previously announced, the Company's 100% owned subsidiary, Falcon Isle Resources Corp ("FIR"), commenced construction of the integrated milling and granulator plant ("Integrated Plant") at its newly acquired property in Delta, Utah in February 2024. The Integrated Plant is the cornerstone of the joint venture ("JV") with Idaho based partner, Phosul LLC. Construction is on schedule with commissioning expected during the second half of May 2024 with production ramp-up through Q3 2024. When fully commissioned, the Integrated Plant will have nameplate Phosul® production capacity of 520 tons per month ("tpm") and 920tpm when operating on single shift and double shift respectively.

The Integrated Plant, comprising FIR's high pressure grinding rolls ("HPGR") mill transplanted from its original Spanish Fork site and a 5 ton per hour granulator plant received from a Chinese original equipment manufacturer ("OEM"), will initially operate on a single shift basis but will be scaled up to continuous operations by the end of the year. The Integrated Plant will produce Phosul® granules, the formulation of which has been through extensive field trials and will be marketed by Phosul LLC predominantly in the western states of the US. Importantly the Phosul® formula comprises 80% of FIR's rock phosphate produced its 100% owned Diamond Creek mine, equating to up to 760tpm at full production which will be sold by FIR to the JV and will materially increase sales of 50 mesh product for the balance of 2024 and the remainder of the initial five year JV term.

FIR continues to produce organically certified 10 mesh and 50 mesh dry sized products with total sales for Q1 2024 of 1,969 tons, a 109% increase relative to the 941 tons sold during the same period in 2023 (Q1 2022: 829t), and demonstrates evidence of the increased traction that the Company's high grade certified products are attracting in the organic market. It's key to note that at full production, the JV is expected to increase FIR's quarterly sales of 50 mesh by approximately 2,280 tons per quarter (a further 115% increase on the Q1 2024 sales -i.e. traditional sales plus sales to the JV), with 100% of the revenue from the sales to the JV attributable to FIR while also sharing 50% in of the profit from the Phosul® product produced from this material.

Phosul® is currently being produced at the Phosul LLC's processing facility in Sugar City, Idaho. Current demand for the product outweighs Phosul's Idaho processing capacity so the JV's product will be delivering into an established market with significant scope for growth in the south western states. With this envisaged growth, the Company is actively looking at new projects both in Utah and surrounding states to augment the 25,000 tons per year capacity from the Diamond Creek mine.

Graham Stacey, CEO of Keras, commented, "The acquisition of the Delta facility and the Phosul JV will be transformative for the Company. The site will not only house the processing equipment for all products, including the new Phosul® granulate, but also allows all run-of-mine crushed feed material and final products to be stored under cover. The associated reduction in moisture content reduces the cost of processing and provides a better quality product for our ever growing customer base. I cannot over-emphasise the importance of the Phosul JV, which at steady-state operation will consume approximately 10,500 tons per year of 50 mesh which compares to total sales of 2,111 tons in 2023, with the consequent effect on cash flow and profitability.

The Q1 2024 sales of our sized milled products, which doubled sales for the comparative reporting period in 2023, was very encouraging and will create a significant baseload on which to build with both the increase in 50 mesh product being sold to the JV and the attributable sales of Phosul® granulates. With commissioning of the Delta plant during May, the timing is perfect as we look forward to commencing our summer mining season.

We look forward to updating shareholders as we progress our journey to being the pre-eminent high-grade organic phosphate producer in north America. I also urge readers of this announcement to review our social media channels to see the outstanding results the team has been able to achieve in such a short timeframe."

[sclper] 22/4/2024 19:31

The company received $1.7million after the accounting date as part of the payment for the project in Togo. The debt and interest payments taken on for the new plant and property doesn't have to be repaid for 4 to 5 years apart from a small amount of interest on a $350k loan which has an annual interest payment at a 7% rate.

[cyberbub] 20/4/2024 13:26

The company's last accounts showed them perilously short of cash. They've had to load up on debt to purchase the new Delta facility, secured on that facility. Meanwhile the accounts showed a (relatively) lot of money owed to "previous minority shareholders" - what's that about?The cap might be very low but it looks like they're flying by the seat of their pants in terms of cash. I reiterate whether the recent drop is maybe front-running a (say) £500k fundraise?

[sclper] 19/4/2024 10:33

Think it is just someone selling out as they want to use the funds elsewhere.The recent JV news and property acquisition was a very positive development and the new plant should be up and running in the next couple of weeks

[cyberbub] 19/4/2024 10:11

Why is this plummeting? Barely a million market cap. Do they need cash? Are they planning to delist? It smacks of insider trading IMO, unless there's a large holder selling out?

[riskyinvestor] 22/3/2024 10:48

Tower Resources (TRP) is the Stock to be in