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KRS Keras Resources Plc

3.00
0.00 (0.00%)
Last Updated: 07:40:55
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Keras Resources Plc LSE:KRS London Ordinary Share GB00BMY2T534 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.00 2.90 3.10 3.00 3.00 3.00 2,712 07:40:55
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores 994k -1.08M -0.0134 -2.24 2.4M
Keras Resources Plc is listed in the Iron Ores sector of the London Stock Exchange with ticker KRS. The last closing price for Keras Resources was 3p. Over the last year, Keras Resources shares have traded in a share price range of 1.65p to 4.25p.

Keras Resources currently has 80,097,177 shares in issue. The market capitalisation of Keras Resources is £2.40 million. Keras Resources has a price to earnings ratio (PE ratio) of -2.24.

Keras Resources Share Discussion Threads

Showing 5901 to 5925 of 5925 messages
Chat Pages: 237  236  235  234  233  232  231  230  229  228  227  226  Older
DateSubjectAuthorDiscuss
01/7/2024
12:27
The decision to ramp up and the responsibility for funding the ramp up now sits with Togo Govt. I think we have all learned not to count our chickens when it comes to Togo Govt.

A properly worked out note which gives low, best and high estimates of net cashflow to KRS for both revenue streams is desperately needed if KRS share price is to have any chance of reflecting true value.

After what has happened at CAI, I for one really need KRS to deliver.

rec0very stock
28/6/2024
18:47
Brokers……;…they haven’t had to produce too much in the way of news here; you’d have thought they would at least get the figures correct!
For “7480 tonnes per annum”…………should read 7480 tpm!

Plus to add some context to the figures, phase 1 ( after 12 months) was to ramp up monthly to 25000 tonnes!

That would give us a yearly $3 million payday, now that sounds much more exciting!

PC

pinecone
28/6/2024
11:30
SP Angel . Morning View .

Keras Resources* (KRS LN) – 3.45p, Mkt cap £2.7m – Keras starts to commission the integrated granulator plant at its Delta processing facility in Utah

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

Keras Resources reports the hot commissioning of its integrated granulator plant at its Delta processing facility in Utah, USA.

The ‘hot commissioning’ process involves the testing of each plant component under progressively increasing load conditions until the design capacity is reached.

High-pressure grinding rolls are milling the rock phosphate material to initially blend and then reduce feed ingredients to ~90mesh (160 micron) for optimal granulation.

The material then goes for granulation where an organic liquid binder is applied before drying in cooler rotary kilns.

Connection to 3-phase power will replace 600kW of diesel generation as soon as is practicably possible reducing power costs and CO2 emissions.

Granules have now been produced proving the operation of the plant marking a significant milestone for PhoSul Utah LLC joint venture

The operation of the jv marks a new era for Falcon Isle Resources which holds the Diamond Creek Phosphate mine for Keras.

“PhoSul®'s formulation allows for improved Phosphorous availability in the soil, results from field tests have demonstrated significant yield and quality improvements over competitor rock phosphate sources. “

“PhoSul® further helps to solve Phosphorous run-off, a key component of the Company's organic identity.”

“Graham Stacey, CEO of Keras, commented, "Constant progress towards full load commissioning and refinement of an integrated circuit is always a challenging phase of plant construction and build-up to steady-state production.

We're very pleased to have progressed to hot commissioning and production of first organic granules without any material flaws to-date which speaks to the commitment of the construction and commissioning team given the intricacies of the move from Spanish Fork and the integration of the HPGR and granulator circuits in an entirely different configuration. “

See photos of hot commissioned product on:

Phosul® consists of 80% of 50 mesh ore from Keras’ Falcon Isle Diamond Creek mine.

Plant capacity: 5tph with a 520t/month running a single shift operation.

Double shift capacity ~ 920tpm of saleable bulk Phosul® granules expected in Q4.

Stockpile: ~4,250tons of 50 mesh product which will cover the operation through 2024 with all mining and crushing costs already expensed.

The Phosul jv should consume ~10,500tpa of 50 mesh phosphate when running at steady state.
Keras’ Diamond Creek can produce ~25,000tpa of rock phosphate.

Keras recently restructured short-term debt of US$900,000 incurred through the acquisition of the remaining 49% of Falcon Isle Resource Corp into a US$1,525,000 four-year loan and convertible loan, with US$1,325,000 of new cash funds and US$200,000 in capitalised Directors outstanding fees. (see RNS on 28/05/24)

Phosul® granules are currently quoted at $40 for a 25lb bag or $75 / 50lb bag on Amazon in the US.

Manganese: The Government of Togo are working towards the restart of mining at the Nayega manganese mine in Togo.

Keras’ agreement with the government of Togo should give it 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 prices for 38%min FOB South Africa are steady at 3.47-3.62/dmtu.

Manganese and cobalt ores and concentrates are subject to a 25% import tariff into China from this year resulting in higher local manganese prices.

The 25% tariff will also be applied to permanent magnets and natural graphite from 2026.

*SP Angel acts as nomad and broker to Keras

apotheki
28/6/2024
11:09
I’ll try to attend as well, haven’t been before and would like to meet the Directors.
tim000
28/6/2024
10:57
Exactly, one of many I’ll be putting again, at the AGM!
pinecone
28/6/2024
10:56
RS - Well said!

GL SR

stockriser
28/6/2024
10:25
Although there is nothing really new and exciting in this RNS, they need to continue to put out regular updates when there is something to say on both US and Togo, rather than slip back into their bad old ways of saying nothing for months on end.

I should be able to make the AGM on 26th where I will push them on that point but also encourage them to get a revised broker note out which tells us what the 2 revenue streams really look like in terms of free cashflow generation at PLC level. Yes they won't be enormous but when compared to current market cap or even fully diluted MCap (we must assume the recent loan will be converted) they should show how badly undervalued the company is because there are only us die hards who have been here waiting for years that understand how transformational recent events really are. I could try to work out some figures from the information they have given but it would have a significant margin of error and it it the company / broker's job to do it based on much more accurate and realistic information.

rec0very stock
28/6/2024
08:51
Graham Stacey, CEO of Keras, commented, "Constant progress towards full load commissioning and refinement of an integrated circuit is always a challenging phase of plant construction and build-up to steady-state production. We're very pleased to have progressed to hot commissioning and production of first organic granules without any material flaws to-date which speaks to the commitment of the construction and commissioning team given the intricacies of the move from Spanish Fork and the integration of the HPGR and granulator circuits in an entirely different configuration. I look forward to updating shareholders as we progress towards steady-state production and sale of organic Phosul® granules, as well as ongoing sales of our internal dry products as we move towards the commencement of year's summer mining season."
apotheki
28/6/2024
08:50
Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic phosphate mine in Utah, US. Diamond Creek is one of the highest-grade organic phosphate deposits in the US and is a fully integrated mine to market operation with in-house mining and processing facilities. The operation produces a variety of organic phosphate products that can be tailored to customer organic fertiliser requirements.

The Company is focused on continuing to build market share in the fast-growing US organic fertiliser market and build Diamond Creek into the premier organic phosphate producer in the USI am pleased to provide an update on our progress since the last report and to set out our outlook for the business going forward.

apotheki
28/6/2024
07:22
Steady progress on commissioning the new processing plant.
tim000
27/6/2024
11:19
Sales year to date would have been useful.
andrewhbruce
27/6/2024
11:12
Jimbl - I agree the $800k still outstanding will be holding the share price back a bit, but the loss for 2023 was reduced by over 50% compared to 2022.

Lots to look forward to here in the near term, and believe 2024 will be the year for KRS to shine.

"The Consolidated Statement of Comprehensive Income for the year shows a loss of £446,000 (2022 - loss £997,000)."

GL SR

stockriser
27/6/2024
10:45
Perhaps due to the £462,000 loss and a still outstanding $800,000 owed to the former CEO?
jimbl
27/6/2024
09:22
Bit surprised MMs decided to mark it down. I wish they would close up the spread to encourage more trading too.
rec0very stock
27/6/2024
07:49
Yes, agree, sounds like news on Togo is likely soon.
tim000
27/6/2024
07:48
"100% owned, fully funded and excellently positioned business"

"100% held subsidiary Falcon Isle Resources LLC ("Falcon Isle") is currently operating profitably at the company level and has commenced repaying loans made to it by Keras"

Etc ....Etc ... Etc ....

Sound as if News on TOGO is due soon also ...

GLA SR

stockriser
27/6/2024
07:37
Final Results

Keras Resources plc (AIM: KRS) announces its final results for the year ended 31 December 2023.

Highlights

Utah - Falcon Isle Resources Corp ("FIR") - the preeminent high grade organic phosphate producer in the US, a fully owned and integrated mine to market asset

· 3,000 tons of rock phosphate were mined and delivered to the laydown area at Diamond Creek in 2023 to add to the 9,700t in inventory as at 31 Dec 2022

· Total sales of 4,606 tons for the year to 31 December 2023, a 7.7% increase on 2022 (4,276t)

· Negotiated the PhoSul Utah JV with PhoSul LLC, an Idaho based organic fertiliser producer facilitating the construction of FIR's granulator plant and the use of FIR's PhosAgri product as an 80% constituent in the PhoSul® product

· Post period in January 2024 acquired the 8.4acre Delta property accommodating three warehouses totalling 77,000 square feet (7,150m2) in preparation for the move of the high pressure grinding rolls mill ("HPGR") and granulator plants from Spanish Fork and reconstruction at the Delta property

· Key product developments for the balance of 2024 will be optimising and ramping up production at the integrated granulator plant in Delta to produce PhoSul® granulates; 2024 summer mining season to commence in July

· 100% held subsidiary Falcon Isle Resources LLC ("Falcon Isle") is currently operating profitably at the company level and has commenced repaying loans made to it by Keras

Corporate

· Keras signed an agreement with the Republic of Togo (the "State") relating to the Nayéga Manganese project ("Nayéga"), under which Keras agreed to transfer all its intellectual knowledge on Nayéga to the State and provide advisory and brokerage services to expedite the development of Nayéga. In July 2023, the State paid Keras cash consideration of $1,700,000 and the Company will be paid brokerage and advisory fees on gross revenue generated from the Nayéga mine.

· Keras paid Tranche 2 of 4 equal payments to the previous CEO of FIR incorporating a principal payment of $800,000 for the acquisition of the outstanding 49% in FIR as well as $240,000 in unpaid salary and severance payments;

· Post period in January 2024 raised GBP300,000 in Convertible Loan Notes ("CLN") and $350,000 in Promissory Notes for the acquisition of the 8.4 acre Delta Property to house the Integrated Granulator Plant; and

· Post period in June 2024 raised GBP1,038,808 for the payment of Tranche 3 of payments to the previous CEO as noted above - an $800,000 principal payment and a final $100,000 in unpaid salary and severance payments


Graham Stacey, Keras Resources Chief Executive Officer, commented, "2023 began with a challenging start due to an unusually late spring impacting on the timing of the spring planting season in our key markets. In addition, the late and swift snow melt caused a landslide impacting the upper haul road to the mine which required an engineered repair and Forest Service approval prior to the commencement of the summer mining season.

"In a year of consolidation post the acquisition of the outstanding 49% in FIR during 2022 we continued to establish ourselves in the organic fertilizer space in the US increasing our sales 7.7% to 4,606t which, given the late winter and continued high inflationary operating environment impacting the buying patterns of farmers and distributors, we were not unhappy with FIR's performance for the year. An important step forward during the final quarter of the year was the negotiation of the PhoSul Utah LLC JV with Idaho based organic fertiliser specialist PhoSul LLC. Understanding the need to expand our product portfolio to include tested finished product and to bring our granulator plant into production. The decision to move our operations from Spanish Fork to Delta was equally important giving us longevity without the pressures of rapidly expanding residential developments. The rapid move from Spanish Fork and construction of the integrated granulator plant at our newly acquired property in Delta has also been particularly pleasing and we look forward to reporting on developments in Delta as we optimise the granulator plant and continue to grow sales of our own dry milled products."

apotheki
04/6/2024
15:24
I’ve bought another 30k. I’m still paying less than our largest shareholder’s on-market purchases a year ago, notwithstanding the positive news since then.
tim000
03/6/2024
16:39
Added the final 20k.
tim000
03/6/2024
11:10
Here he is again, mentioning me while supposedly having filtered me.

Wrong about me again too. I haven't lost any money in here actually. I'm on a free carry now thanks very much, thanks to 50% of the millions of free CAI shares I previously got having held FRX then KRS long before this stock picking genius knew we existed.

He lost money. I've lost none. There you go.

jimbl
03/6/2024
10:59
Investing in micro caps is like playing professional poker - no matter how good you are, you’re still dependent on luck in the short term. For example, even a strong business on fundamentals can suffer from poor sentiment, waves of selling and hence the inability to raise working capital by share issues. I lost money on KRS the first time around, just like Jim is currently, it didn’t necessarily mean we made poor investment decisions. I chose to sell up and move on, buying again now because I still think the business has good prospects in the medium term. But there’s no point whingeing about the past. Wins and losses are part and parcel of this game. One needs to be philosophical about setbacks, learn from them and come back stronger. Hopefully KRS will still make money for everyone invested here. Take heart from Chris Grosso’s confidence in his investment.
tim000
03/6/2024
10:50
Keras Resources* (KRS LN) – 3.75p, Mkt cap £2.94m – Keras reports commissioning of its integrated milling and granulator plant, Utah, USA

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

Keras Resources report substantial progress in the assembly of its new integrated milling and granulator plant at its new Delta processing facilities.

The plant is now energising its motors for start-up sequencing along with the set-up of other instrumentation under no-load conditions.

See video on twitter feed:

All equipment is now installed just four months from the start of the Phosul Utah jv.

Wet commissioning will start in the next two weeks under load conditions with granulator binder fluids.

Commissioning will first test granulation using Falcon Isle rock phosphate before introducing additional material to make Phosul® organic phosphate.

Plant capacity is for 5tph with a 520t/month running a single shift operation.

The plan is for the plant to work towards moving to a double shift operation in Q4 for around 920tpm of saleable bulk Phosul® granules.

Phosul® consists of 80% of 50 mesh ore from Keras’ Falcon Isle Diamond Creek mine.

Falcon Isle currently holds ~4,250tons of 50 mesh product which will cover the operation through 2024 with all mining and crushing costs already expensed.

The Phosul jv should consume ~10,500tpa of 50 mesh phosphate when running at steady state.

Keras’ Diamond Creek can produce ~25,000tpa of rock phosphate.

Keras recently restructured it’s short-term debt of US$900,000 incurred through the acquisition of the remaining 49% of Falcon Isle Resource Corp into a US$1,525,000 four-year loan and convertible loan, with US$1,325,000 of new cash funds and US$200,000 in capitalised Directors outstanding fees. (see RNS on 28/05/24)

Phosul® granules are currently selling for $40 for a 25lb bag or $75 / 50lb bag on Amazon in the US.

Manganese: The Government of Togo are working towards the restart of mining at the Nayega manganese mine in Togo.

Keras has an agreement whereby it should earn 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 prices for 38%min FOB South Africa are steady at 3.47-3.62/dmtu.

Conclusion: Good to hear of such rapid progress in the assembly and commissioning of the process plant at Delta. We look forward to news on the wet commissioning of the plant and sales of Phosul® organic phosphate going forward.

*SP Angel acts as nomad and broker to Keras

apotheki
03/6/2024
10:41
Jimbl, it says a lot about your character when instead of commenting on the company achieving a major milestone in the news it has delivered today you chose to have another pop at me with a comment which is blatantly untrue. The facts of the matter is that at the current bid price I am up by 36% on the stock I hold with Interactive Investor and 2.5% on the stock I hold with Shard, although I could quote higher gains using the prices I am getting for dummy sells.

Now who’s the dummy, and a very bitter one at that?

the skipper
03/6/2024
08:25
Graham Stacey, CEO of Keras, commented, "Having made the decision to migrate operations from Spanish Fork, acquiring the Delta Property and achieving C1 commissioning on schedule in the space of four months has been an outstanding achievement from both our project team but also with the support of our funding partners.

As we now move into C2 commissioning and build up to steady-state commercial production of Phosul® granules, the value add of the Phosul Utah LLC JV will underpin our traditional PhosAgri markets and significantly increase the footprint of our sales in North America. Having the Phosul LLC team as partners, who have five years of both producing and importantly marketing Phosul® from their Sugar City, Idaho facility is key to achieving our growth strategy and we look forward to working with their team going forward.

As always, I encourage shareholders and potential investors to view our social media posts to get a sense of the physical progress achieved in Delta to date. I look forward to updating shareholders on progress as we now move towards the final commissioning and ramp-up phase of the integrated Granulator Plant."

apotheki
03/6/2024
08:20
Commissioning of Integrated Delta Processing Plant

Keras Resources plc (AIM: KRS) ("Keras") is pleased to announce that dry commissioning ("C1"), of its Integrated Granulator Plant ("Granulator Plant") at its newly acquired Delta processing facility ("Delta") has commenced on schedule. C1 involves energisation of motors for directional checking, start-up sequencing, instrument set-up and confirmation that all installed items meet design requirements under no-load conditions without dry feed materials or binding and dust control liquids. With all equipment installed, C1 is a significant milestone for Keras's 100% owned Falcon Isle Resources Corp ("Falcon Isle").

Given the scale of what was required to transition from an outsourced production and ownership model operating from three rental facilities to the Company's wholly owned, fully integrated production facility at Delta in just four months, which was underpinned by the conclusion of the Phosul Utah LLC joint venture ("JV") as announced on 22 January 2024, has been an outstanding achievement by the project team as well as the Company's supportive funding partners.

The project team will now work towards wet commissioning under load conditions with granulator binder fluids ("C2") during the first half of June 2024 which will initially comprise test granulation of Falcon Isle's rock phosphate before introducing the additional constituents of the Phosul® final product. The Granulator Plant has a nameplate capacity of 5 tonnes per hour of finished product. At steady-state single shift operation, the Granulator Plant is planned to produce approximately 520 tons per month ("tpm"), working towards upgrading to double shift operations during the fourth quarter of 2024 to produce approximately 920tpm of saleable bulk Phosul® granules. The Phosul® formula comprises 80% of 50 mesh PhosAgri feed produced from ore mined at the Diamond Creek mine, Falcon Isle's wholly owned, high grade organic phosphate mine. Falcon Isle currently holds inventory of approximately 4,250tons of 50# PhosAgri product, sufficient to cover Granulator Plant operations for the rest of 2024 which, importantly, will have a positive impact on cashflow with all mining and crushing costs already expensed.

apotheki
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