Keras Resources Share Discussion Threads

[greatfull dead] 04/1/2018 16:43

Andy,

'tis a game of chance until the company is producing in large amounts. Until then share price may go lower...

ATB,
GD

[andylee3] 04/1/2018 15:27

Yes, GD, a great purchase, I'm waiting until pay day to get more.

So now I've said that, you can guarantee they'll shoot up!

[greatfull dead] 04/1/2018 10:23

zhockey,

Thank you.

ATB,
GD

[zhockey] 04/1/2018 08:59

Well done GD,

[greatfull dead] 03/1/2018 16:54

Set a limit order this morning @ 0.38 got them @ 0.37.

Pleased with my dealing here and there today........

GLA,
GD

[andylee3] 03/1/2018 09:31

Well done with that purchase RS, anything 0.40 or below is a cracking purchase IMO.

No trades today, can't believe they don't see the long term potential in this.

Perhaps that's the problem these days, no patience and all looking for the quick returns.

All to their own I suppose.

[rec0very stock] 02/1/2018 14:02

Grabbed another 3m this AM at 0.388. That is me done for now. May grab some more before results which normally come out in Feb, but I thought I had better leave some for the rest of you.

A happy and prosperous New Year to all who have stuck with this last year.

[rec0very stock] 30/12/2017 11:38

Or blows, which ever he prefers

[andylee3] 30/12/2017 10:59

RS, I posted his response to my question FYI, draw whatever conclusions you feel.

However, your BJ theory.....that sucks ;-)

[alan@bj] 29/12/2017 16:44

Just for the avoidance of doubt, I'd like to stress that "bj" does not stand for blow job. The President will have to look elsewhere.

[rec0very stock] 29/12/2017 16:30

Andy,

Whilst I am sure DR is giving an honest view, the last I saw of unrest in Togo was back in Oct and it was not that major, by African standards.

If the president actually got on with running the country to improve the lot of the people he would not be facing such protests eg granting long overdue licences so jobs can be created and royalties paid in to the Govt which then can be spent on public services not to mention the social projects that are part of the mine.

My earlier view that the deciding factor on when we get the licence probably has more to do whether the president had a good blow job that morning than it does with political protests.

Looks like I missed a top up opportunity earlier as I had to go out and get the shopping for New Years eve. Oh well there does not seem to be any let up in market apathy so I am sure there will be other opportunities in the New Year.

A prosperous New Year to all

[alwaysevolving] 29/12/2017 16:15

Thanks Andy.

[andylee3] 29/12/2017 15:13

For your information, I asked Dave about the Togo license and here's his response....


"Andy, a very belated merry Christmas to you and yours and thanks very much for your support.

I honestly believe if it was not for the political protests in Togo, we would have had our licence as it was setup for Council of Ministers. Perseverance always wins in this game and the Togo government rang me the other day to ask for a bit more time, so as always, I remain positive!
Here is to an exciting 2018."

Cheers
Dave

[zhockey] 28/12/2017 15:27

AISC a bit high I'd say for 2.1gpt, but not bad as a base case.

[rec0very stock] 28/12/2017 14:45

zhockey,

CAI will need to do at least 1 fundraise if not 2 by then. I am expecting them to be about 10c by the time we get ours. Based on buying KRS at 0.4p or less that works out as a 5 bagger in just over 18 months - not bad. I should have in excess of 5M CAI, so plenty to see me comfortable in retirement.

In 18 months I would expect drilling to all be done, a juicy PFS to be on the streets and a BFS to be in the pipeline, with some early indications of how the plant and initial mining will be funded. Another 2 years on and CAI could be in profitable production with an AISC of around A$1000 per Oz, what will POG be then? A$2000 does not seem outlandish, but could be a lot more (or less if we miss the bull run). Hopefully they will be in a position to start paying dividends by the time I actually retire in Jun 2023.

A bit early to start planning where to go on my first cruise. I must get out to Oz again. I did the East Coast last time, so a trip to WA to see the mine that is funding the trip would be in order.

[zhockey] 28/12/2017 13:27

RS,

The Calidus value will hopefully be closer to 20c when the shares come out of Escrow.

[rec0very stock] 28/12/2017 10:47

Come on MMs raise the bid to get the sellers selling again. My ISA is now nicely teed up to pick up their cast offs.

[rec0very stock] 28/12/2017 09:21

I have bought all I can at 0.4p and below. I now have 16.5M. If there are more opportunities then I will look to get that up to 20M before results come out.

It all depends on how they value the CAI performance shares. If they value all CAI shares (ordinary and performance) at market value on 30 Sep (reporting date) approx 5c, then they would have a non current asset (non current because shares are in escrow / not converted to ordinary) of over £20m. They would also book a profit on disposal of around £18m and a pretax profit of about £15M. They have historic losses (£12.4M) to offset against some, but not all of this. As paying tax now would be quite painful I suspect they will take a slightly more conservative approach of maybe not including the tranche that have not converted yet and maybe taking some VWAP price rather than closing price on 30 Sep. They could also write down (not write off) the other projects to zero (Approx £2m in 2016). Even taking this more conservative approach would most probably finally wake the market up and leave more profit to be booked next year, when they should be better able to pay the tax.

I feel the opportunities to buy sub 0.4p will only exist fleetingly for the next 2 months max.

[zhockey] 27/12/2017 22:19

The fact Dave was musing that we could end up with something over 1.5M oz was very interesting.

Couldn't wish for more from CAI, just need the Togo assets to start moving.

[rec0very stock] 27/12/2017 10:28

zhockey,

Thanks for that. If you edit your post to put HTTP in capitals then the link will work.

There is a bit of a conundrum for DR. To drill 50km he will need to raise more money, but he also needs to do a PFS. The more Oz in each category and the longer the mine life and more Oz per year, especially in the early years, the better the PFS looks and the better price the next fundraise can be done at. Obviously the capacity of the plant has a big impact on the amount of capital needed. The PFS would only need to have an estimate of the capital requirement. More Oz and better estimates of capital costs can be produced at BFS stage. So it is a bit of a balancing act. DR has done this enough times before and with NOVO in as JV partner and shareholder he should not have too many problems delivering this time.

[zhockey] 27/12/2017 07:50

Excellent interview,
Especially the last minute. 50,000m drilling next year!

[rec0very stock] 22/12/2017 15:50

Hmm new projects. The projects FRX now KRS had / has have basically come through DR and his network of contacts. They are generally good potential projects that are too small for major companies to bother with and with quite a bit of nifty footwork DR picks them up very cheaply. Some times they flop - eg gold tributes but this did save the company at the time and sometimes they do really well eg CAI and some of them just hit a brick wall eg Togo and Gabon but could come to life if the conditions are right.

I think DR is too busy to really look for anything new. I think the Cobalt was possibly a sop from Togo Govt for their failure to award the licence and I think DR took it, because it had genuine potential, ramp value which never really worked and that it might give him more leverage with Togo to get the licence we really want. I would be worried about any new project anyone else brought to the company and even if it was a DR project I would be worried that it would either be a distraction from delivering at CAI or he would be too distracted by CAI to really get it to where it needed to be to make it attractive to fund.

I think a new project announced say in the new year would attract zero market attention no matter how good it looked, it would still be small and very early stage there is no way it could be funded by issuing KRS shares.

In the unlikely event that DR was offered a real belter that he could not ignore. He could just put it into CAI. If he decided to put it in to KRS, provided the project really did stack up and provided independent directors at CAI and KRS plus regulators on both exchanges agreed then a loan from CAI to KRS might be the best way to provide the initial funding needed to make a convincing investment case. If AIM was still completely ignoring KRS at that stage then possibly funding could be raised at project level.

Lots of if and maybes there and in my view not really worth paying much more attention to as it is highly unlikely to happen and if it did it would be best discussed then when there would at least be some detail to discuss.

My position is: sit back relax and enjoy watching the CAI show, take advantage of current market apathy towards KRS when I can, and look forward to being a CAI shareholder in 18 months. If something genuinely good happens elsewhere that is a bonus.

[gautams] 22/12/2017 11:45

Hi Recovery - can't make the agm but am sure you will do a good write up.Agree need to keep dilution to a minimum. Will be interesting if we find another project - how we finance?I think q1 will kick off for us. Plenty of drilling in cai. You did well with the last purchase.Cheers and have a good Xmas all.

[rec0very stock] 22/12/2017 11:31

Gautams,

Thanks. Any chance of you making it to AGM, it would be good to meet up.

I am quite happy accumulating when I can at or below 0.4p. The longer it takes for the market to wake up the happier I am.

I am not sure how long the last placing will last but they are doing all the right things to make it as long as possible. So the market can carry on ignoring this until shortly before we either have something real for KRS to spend money on or we have to do another small one to stay alive during hibernation.

Yep 1 CAI for every 3 KRS is what I am buying KRS for. The more KRS shares that have to be issued in the next 18 months, the worse that ratio gets.