Keras Resources Share Discussion Threads

[dunkelmann] 01/8/2018 07:33

I have zero expectation of anything out of Togo. Calidus is the only reason I bought into Keras, it being a proxy that not many share buyers understand.

Frankly the continuing sorry saga with Togo is a shadow over Keras. How many would be invested and what would the price be if there were no Calidus? I wouldn't have touched it with a bargepole. Let Mr Lamming get on with promoting the Calidus resources and let Mr Reeves do the same in Australia.

This is small reflection on the management who should have split the assets into two companies. One might sink into obscurity and one will flower briefly then die.

[zhockey] 31/7/2018 22:15

Maybe they'll issue a mobilisation RNS shortly.

[rec0very stock] 31/7/2018 19:11

I am afraid the market really is not aware of KRS at all. It just is not a ramp stock. Those of us who have been in a long time have already filled our boots with cheap shares. I expect the Q&A session is an attempt to get a bit more wider market interest going.

Russell said the contracts would be placed late Jul and it is now the very end of Jul. Whilst he may not want to issue a separate RNS just to confirm He has done what he said he would do he could have tacked it on to today or yesterday's RNS. It is important when trying to get market recognition to be seen to have done what you said you would do, especially as there have been so many false dawns with Togo.

[zhockey] 31/7/2018 13:17

I'm very surprised that the willing shown in the Togo RNS didn't trigger a rerate. One day...

[rec0very stock] 30/7/2018 19:43

Basically a dmtu is the amount of ore that contains 10Kg of metal. A 1% ore would weigh 1 tonne. So multiply tonnes by the %.

To value it properly you need to do a DCF to get an NPV.

"Based on work conducted to date the Company is confident that Nayega will provide positive cash flow through the rapid development of a low-capex, 250,000tpa open pit, 38% manganese product operation."

Making a few assumptions, because we do not have the DFS, the NPV over a 10 year mine life is about £125m. There are other deposits there that could be proved up and the original plan was to generate cash for a few years then invest in a plant to produce much higher value Ferromanganese, but I do not recall them ever publishing any economics on that. Overall the whole thing could well be worth around £500M.

Not bad as a freebie on top of the 100% upside we already have from CAI.

[zhockey] 30/7/2018 18:21

So how many DMTU do we have?

How do we convert 14Mt at 12% to dmtu?

[rec0very stock] 30/7/2018 17:05

We really need to see the DFS, but past claims were Nayega could produce sub $2 per dmtu FOB Lome. Currently Mn ore is $5.91 FOB Port Elizabeth.

The key question, which Russell won't be able to answer, is when does he need to raise more cash. He may be able to answer whether any of the bulk sampling money will come to KRS - there was mention of management fees. If the market were to recognise the see through value of CAI plus add something for Nayega then just maybe some of those 200m warrants would be exercised raising money when we need it rather than just before the CAI shares get dished out to shareholders in just under 11 months time.

[zhockey] 30/7/2018 15:24

Has anyone ever worked out the in situ value of Nayega?

13MT @ 12.4%, say 10% for 1 million tonnes of Manganese.

1Mt = 2200 lbs @*$1/lb = $2.2Bn ???

*Can't find a recent firm value for raw manganese.

[zhockey] 30/7/2018 11:39

Come on then, what questions can we ask?

[stockriser] 30/7/2018 08:00

Lots of newsflow in near future ;-)

"In parallel, further geological work has defined a continuous working of over 1km on surface that targeted a chert/quartz
vein that on closer inspection shows excellent continuity at depth and represents a high priority target for additional high-
grade resources. A programme targeting this area will commence in the next 2 weeks with a 2nd rig and will include a
large portion of diamond drilling to enable a selective grade to be reported.”

[zhockey] 30/7/2018 07:15

Are KRS going to RNS the Calidus news?

[zhockey] 26/7/2018 09:54

Not bad for 41 months. Also he kept all the shares and paid the tax in cash, don't see that very often on aim.

[edgein] 26/7/2018 09:18

Well at least Brian got his payment at mid price so no discount.

Regards,
Ed.

[zhockey] 25/7/2018 08:31

I wondered if those synergies were of the potential acquisition type.

[rec0very stock] 23/7/2018 18:31

Zhockey,

When used in relation to mergers, synergies are management speak for job cuts. That is not the case here and I suspect all that is really being said is the deal is mutually beneficial for both parties and possibly hinting at a JV to take the main project forward.

My guess is that the end user is someone who struggles to get a reliable supply of Mn at a predictable price and both parties would benefit from the delivery point being closer to West Africa than other sources ie I think the end user may be European rather than Chinese.

If the contracts do go ahead as stated, bearing in mind we are nearly at the end of Jul, then it is a massive show of confidence by the end user who is paying for it (but no doubt gets the Mn for free / not very much) in KRS, the project and the Togo Govt actually granting the licence. It will also show the Togo Govt that KRS and the end user are serious about getting the project moving and all the Togo govt is achieving by dithering is less employment for its people and less money in royalties.

I am not overly surprised by today's pitiful market reaction. KRS need to do what they say and let the contracts and then they need to do some decent PR to make the market aware that they are 100% undervalued just on CAI and this little baby comes for nothing in that. It would also be good if they could get the DFS out the door, so the market can see just how much the overall project would be worth.

[novicetrade68] 23/7/2018 14:25

Fantastic news to have arranged this third party financing, they sure have taken their time, but now at last there is some progress. Pretty confident there will be a point now this year we'll be seeing more demand for the shares, also with the special divi coming up later next year.

[zhockey] 23/7/2018 08:23

Recovery - what do you think those synergies are?

[edgein] 23/7/2018 07:37

Interesting news for sure!

Regards,
Ed.

[stockriser] 23/7/2018 07:21

"we have secured a funding agreement with a third-party end-user that potentially may share significant synergies with a West African manganese producer"

Cant believe it's also fully funded by a third party. - that just puts the icing on the cake. West African manganese producer - wonder who that may be?

GLA SR

[zhockey] 23/7/2018 07:19

At last!

Great work Russell, must have been working very hard for this deal which is great for Keras.

[stockriser] 23/7/2018 07:09

Wakey wakey - excellent news - well done Keras

[zhockey] 10/7/2018 16:31

The only thing coming this way is tumbleweed...

[stockriser] 04/7/2018 11:40

Could see a bit of GGP profits coming this way ;-)