Keras Resources Share Discussion Threads

[rec0very stock] 22/12/2017 08:41

Andy,

Thanks, good luck to canaries I hope his Mrs rewards him on Christmas day. Time will tell if it was a mistake me not just biting the bullet and paying a little over 0.4p as he did. Only one of us could have done it before the price went up further. He did, I didn't. I think, the way market sentiment is towards KRS and the fact that CAI share price is pretty flat after the resource upgrade (as I expected), I will get another chance, most probably after Christmas, to pick up 1M for 0.4p or less.

I already have a lot of shares - about 12M now. I am not going to go all in on this, but I will pick up what I can, when I can. I think what has been demonstrated is that there is pretty solid support in the 0.35-0.4p range and barring any unforeseeable disasters that will not change, thus at some point when the sellers are exhausted and sentiment changes the upward trajectory will be fairly steep. It is just a matter of when not if.

My life perspective, being 5 years from retirement on a good pension, with mortgage paid off and eldest child self sufficient and starting to pay back loans for rent deposits etc (2 more children to get out of my wallet at the moment but they will not be far away from doing that by then) and a reasonably diverse portfolio, which is arguably already too exposed to one thing (KRS), is all focused on the difference CAI would make to my post retirement lifestyle. If CAI went bust, I would need some part time work during the vinegar strokes of the emancipation from the financial burden of my youngest 2 children and then I can live comfortably with my wife. CAI produces industry average performance and I do not work, but may have to sell a few to fund my final emancipation. CAI does better than average and is able to start paying dividends then those should fund final emancipation, stellar performance from CAI and it is world cruises from retirement date. If Togo happens then average performance from CAI could mean booking of the first world cruise shortly after retirement.

I posted after the AGM about Togo. I cannot remember exactly what I said, but they were certain the licence would be granted on a Friday, but had no confidence which Friday as it had already been that way for many years. The problem they thought they had solved was that Togo had granted some extensive licence to an Indian company, who never did anything and the licence expired, but Togo were worried that they might still be on the hook for something if they granted KRS a licence. There were problems because everything had to be translated into proper legal French and back into proper legal English, but they felt, at that time, their replacement French lawyer really did have a grip on things now. What has, or has not, gone on since, I have no idea. However it all will come back in one way or another to the Togo government being barely competent to run the country properly for the benefit of its population. That is true to a greater or lesser degree for all African countries and also to the EU, which is why I voted for Brexit. Thus I do not see the underlying situation in Togo ever changing. We may eventually get the licence, it could just happen because the president got a really good blow job that morning, who knows. Granting of the licence will unlock the gate but the path that can then be taken will be hard and frustrating and will require more patience, effort and funding than any reasonable estimates could ever foresee.

I am grateful to Gautams for his confirmation that the bare minimum is being spent keeping Togo on the very back burner. If able could you provide a little more on how you know that. And expand on "on the lookout for other projects" are these in Togo or elsewhere? The Gabon Govt does seem more able to run its country than Togo and we do have a mothballed Iron Ore project there - it was written down to zero in the balance sheet, but not written off. I am not sure what the status of the SA projects is at the moment, but I would suggest that SA is almost as bad a place to try to get a project from very early stage to producing for a company the size of KRS, who can barely afford the brown envelopes, let alone what would need to be put inside them, not that I would ever accuse DR of even thinking that way, however he has had success in Africa in the past.

[andylee3] 22/12/2017 07:29

Think you'll find it was 'canaries' on LSE that bought those RS, quote.....

'Just had confirmation my buy has been filled at .4150 could only get 100'000 shares at .40. So accepted 5k worth at .4150. Happy to hold until 2019 should be a decent prifit. Or take over before then gla. Anyone wishing to sell may get .40p'

[gautams] 21/12/2017 22:37

Togo is mothballed with limited expenditure - we have one person there manning things - very cheap. We are also on the lookout for other projects and u never know something may come to fruition.

[zhockey] 21/12/2017 21:37

That doesn't very positive RS. What's your guess on what the problems may be?

[rec0very stock] 21/12/2017 21:17

They could not go into much detail at the AGM I attended about 10 months ago, they were very hopeful, as I reported back at the time that they had unblocked the problem. Either they had not unblocked it, as they hoped, or another problem has developed since. By effectively shutting KRS down into hibernation with the last placing being the winter fat store, I think they are basically saying nothing is going to happen outside of CAI any time soon. I am sure there will be a statement on this in the annual report, which will be out some time in the new year. I will try to get along to the AGM and dig a bit more. It would be nice to meet some of you there.

My view, which I will discuss with the company at the AGM - if I can make it, is no money should be spent on anything in Togo until the government there can get its act together and grant the Mn licence. If they still have not granted it by the time CAI shares are released from escrow, they should in specie CAI to us - as DR has said he intends to, and strongly consider just delisting KRS, transferring anything of potential future value to CAI and doing a solvent liquidation of the UK company by getting CAI to pay the money needed to balance the books for the transferred assets. I believe that would be fairest and best value for all shareholders. We should not continue having to pay listing fees and related expenses on 2 companies, when only one is doing anything. Dear old Brian could then finally retire with his well earned CAI shares to fund it. The less dilution of KRS which happens between now and then, the more CAI shares we all get.

If things did later come to life in TOGO, CAI could either do it or spin it out to another listed vehicle to do it, depending on what made most sense with regard to managing and funding it.

[zhockey] 21/12/2017 19:21

Do any of the long term holders have a view as to why the mining licence has been so elusive? Has Dave ever discussed this in interviews etc?

[novicetrade68] 21/12/2017 18:57

And as a reminder of what we have atm :

The Kamina Project comprises five separate exploration licences, Kamina I to Kamina V, covering 854.3 square kilometres of ground in Togo, which includes previously delineated cobalt ('Co') and nickel ('Ni') mineralisation. The licences were awarded to Keras in May 2017 and have an initial term of three years, which can be renewed twice for a period of two years each.

Average rock chips from the mineralised zone grade at 0.82% Ni and 0.19% Co, with highs of 1.4% Ni and 0.25% Co. The exploration licences are comprised of sericite schist, chlorite sericite schite and quartzite injected by ultramafic rocks. Numerous gossans and gossaniferrous schist outcrop surrounding the mafic and the ultramafic bodies. As a result, the target mineralisation is sulphide Ni/Co orebodies.

Several rock chips have been returned from the priority target, with results as shown in the table below. The in-situ value of the cobalt mineralisation based on the average of these grades is greater than the nickel component.

Initial exploration work is now underway to investigate the resource potential of the project area, consisting of mapping, sampling, trenching and data compilation of historical data.

The Company's decision to expand its mineralised footprint in Togo not only underpins its strategy to consolidate its land position in the country - where it holds an 85% interest in the Nayega Manganese Project, but also provides exposure to the potentially high growth battery market. Cobalt often reported as the most critical metal from a supply perspective for the battery industry and prices have increased 100% in the past six months.

[novicetrade68] 21/12/2017 18:53

I would really welcome if DR would consider raising some money and do some work on Togo, also fairly certain that Cobalt explorers/developers are going to do really well at some point in the future, just like crypto now and lithium earlier...also, not so many AIM listed shares with cobalt prospects, so KRS could be in a really good place.

[zhockey] 21/12/2017 18:22

I would agree, currently only valued on Oz gold and undervalued at that.

Some high impact news on Cobalt would be very welcome. Not sure the market gets it yet but nickel Cobalt sulphide deposits are quite rare and have much more favourable economics than the latterites some other companies are pushing right now. Let's hope they have a sizeable resource!

[rec0very stock] 21/12/2017 14:57

Own up who bought 1.2M at over 0.4p at 1300?

Oh well I will try again tomorrow and if no luck then will just have to give the Mrs a damn good stuffing (in the turkey of course) on Christmas day.

zhockey,

I could well be wrong, but I think the right news from Togo would reverse market sentiment and the share price would go up and stay up for a change.

[rec0very stock] 21/12/2017 11:45

Come on sellers play the game. The offer is at 0.4p so well done for that, but I can't get a real time quote for any quantity and all the fill or kills I have put in for my wife's additional 1m have failed at 0.4p. Perhaps we need some more good news from CAI to get you going on selling again.

[rec0very stock] 20/12/2017 23:35

Of course and if she does not return the favour, I already have full power over her account.

Most of our shares are in her account, as I am a higher rate taxpayer.

[andylee3] 20/12/2017 22:42

So RS, you will be wishing the Mrs a merry krsmas

[andylee3] 20/12/2017 22:41

Get in the queue RS, get in the queue ;-)

[novicetrade68] 20/12/2017 20:20

It's certainly getting into bargain territory, must admit the pullback surprises somewhat, January, February tend to be stronger months for PM shares, so perhaps there will be some action then.

[rec0very stock] 20/12/2017 18:35

Please do not buy any KRS tomorrow morning.

I have got to go out first thing and provided I can still buy below 0.4p when I get back, I am going to get another 1M for my wife's Christmas stocking.

Anyone thinking of selling, please do so before 10 am.

[modform] 18/12/2017 12:01

There has been a consistent and persistent seller who has been off loading on any good news, so the share price will be depressed until that is cleared.

[luckyvince] 18/12/2017 11:21

It could be the seller has more to offload and thats why we are where we are.

[luckyvince] 18/12/2017 11:18

Looks like. 2 x 5 million sells dont help.

[zhockey] 18/12/2017 11:16

Well I guess 700k oz was priced in at this level. Should see 1M passed in next six months.

[cpap man] 18/12/2017 10:51

Dave Reeves commented, "For Calidus to increase the resource base by 74% within 6 months of listing on the ASX, as a result of targeted drilling underpins the unique attributes of the Warrawoona Project, where outcropping gold mineralisation allows rapid and cost-effective ounces to be added to this rapidly expanding project. Calidus intends to maintain this momentum in the New Year with extensional drilling programmes planned, both down dip and along strike. In addition, Calidus plans to convert some of the large number of satellite targets to resource status during 2018. The planning for this is well supported by Calidus' current cash position that allows a continuation of the aggressive work programmes they have pursued to date.



With the definition of over 500,000 ozs in the indicated category, the trigger for the conversion of Performance A Shares to ordinary shares in Calidus has now been reached. This will result in Keras holding a direct interest of 458,375,000 shares in Calidus. These shares are held in escrow until 22 June 2019, at which time the present intention of Keras is to distribute them to its shareholders. We believe Calidus will continue to expand the resource at the Warrawoona Project. In addition, Calidus has publicly stated that they plan to commence a PFS on the project before the end of 2018, subject to next year's drilling results. The achievement of the final hurdle of the completion of a PFS study will result in the conversion of our holding of Performance B Shares and will take Keras' total holding in Calidus to 723,750,000 ordinary shares."

[wisteria2] 18/12/2017 09:16

Give it time! should be in the blue by close! Anyway all depends on your timescale, tems is a day trader! good luck with that. gla holders