Keras Resources Share Discussion Threads

[daar] 02/9/2020 10:51

Just an organised pump at the moment

[the skipper] 02/9/2020 10:47

Looks like the overhang from the placing has finally cleared.... or is news leaking?

[markyess] 01/9/2020 12:50

Hey @andylee3

We have a growing BB specifically for Calidus on this platform now.

[andylee3] 01/9/2020 12:05

Latest Calidus presentation from Dave Reeves....

[greatfull dead] 01/9/2020 08:34

For those who have not read the presentation discussed.

31 July 2020 Presentation
file:///C:/Users/User/Downloads/Corporate-Presentation-20.07.21%20(1).pdf

GLA,
GD

[tradedesk1] 29/8/2020 10:48

RS, that makes perfect sense. I'd overlooked that in the latest presentation. Thanks for clarifying bud.

[rec0very stock] 29/8/2020 10:38

Tradedesk,

Yes overall the mine will be running for about 15-20 years. 6 years is just phase 1, which was the point I made to ZH.

From latest presentation:

"Phase 1 Life-of-Mine 6 years"

"Resource Size:-
 Phase 1 Utilises only 3.78Mt (45%) of the 8.48Mt Ore Reserve, with significant upside left for the proposed battery metal Mn project"

[tradedesk1] 28/8/2020 23:05

I'm liking the fact theres an EV focus to this to:

'Potential to de-risk Nayega’s exposure to the volatile steel market by diversifying into the growing EV market'

'EV focus - leaching results showed +90% recovery
being achieved in 2 hours'

'November 2019 Commissioned Scoping Study on potential to produce battery metals in Togo'

[tradedesk1] 28/8/2020 22:27

RS, unless i've misunderstood latest presentation needs correcting imo. Its 15yrs according to official RNS comms, see RNS and Presentation dated 06th November 2019 both state 15yrs!?

Presentation



RNS



'Exploitation Permit will be a 20-year permit covering the current 15-year life of mine ('LOM') and any potential increase in Ore Reserve'

'These are exciting times for our shareholders. In tandem with the expected start of full-time production at Nayega in 2020 over a current mine life of 15 years and resultant defined cashflow'


'An internal Definitive Feasibility Study demonstrated the current LOM of 15 years, however, with ongoing exploration on the Ogaro anomaly, located approximately 5.5km east of the Nayega Resource, the Company is confident that there is the potential for the LOM to increase.'

[rec0very stock] 28/8/2020 22:09

ZH,

That is for phase 1 which uses 45% of reserves. There are further resources which can be proved up into reserves and other potential sites in the area not included in resources.

[zhockey] 28/8/2020 17:42

Nayega mine life now at 6 years in the latest presentation.

[greatfull dead] 27/8/2020 14:28

markyess,

Why bother explaining?

ATB,
GD

[markyess] 27/8/2020 14:07

Having (tried) to provide business support for an Afro-French cosmetics producer - these kinds of delays are common place. You cannot make them operate in a Western working style. I was at a Big 4 organisation - they refused to operate on our timelines, only their own.

October's decree means it categorically *will* happen.

Unfortunately, it won't be hastened by the internet grumblings of a bunch of British investors.

[searcher0] 27/8/2020 13:43

No but neither have this lot by the looks of it, Markyess. Must be the longest wait for a permit anywhere. They seem to have crawled close to the finishing line though, will they get over it!?

[markyess] 27/8/2020 13:32

You have clearly never dealt with Afro-French countries on any business dealing, Searcher.

[searcher0] 27/8/2020 13:17

@Rec0very Stock

Yawn, that was 3 months ago. Its hardly an unreasonable request to obtain updated guidance from the issuing authorities, it should be forthcoming given the time lapse. One signature you say, hmm okay, should be a doddle if they've built good in-country relations.

[greatfull dead] 27/8/2020 10:08

RS,

Neither am I to be frank, but he is there. As you so rightly put it "but do know he is now well placed to sniff around for others in the area." which helps both RL and DR.

ATB,
GD

[rec0very stock] 27/8/2020 07:48

GD,

Not sure if JDP had a hand in the original deal, but do know he is now well placed to sniff around for others in the area.

[rec0very stock] 27/8/2020 07:38

Searcher,

The company has guided the market as best it can:

"The exploitation licence itself required our 85% subsidiary in Togo, Societe General de Mine SARL, to be converted to a Societe Anonyme (SA). This process has taken longer than envisaged, as it also required the accumulated deficit to be eliminated. This was done by capitalising costs incurred previously, rather than by capitalising loans as previously envisaged, and the resulting balance sheet of SGM at 31 December 2019 has now been audited. Accounting rules in Togo differ from International Financial Reporting Standards, under which Keras reports, so that the capitalisation is not reflected in the consolidated financial statements of Keras. All the terms of the exploitation licence and the protocols associated with it have been agreed with the Government of Togo. When the licence is issued, the Government of Togo will be granted a carried interest of 10% in SGM, which will reduce our current 85% ownership to 76.5%.

The Directors are not aware of any further obstacles to the grant of the exploitation licence."

It is now at the whim of the president. KRS needs to be careful not to say anything which might appear critical of the Togo govt. All previous expected dates when the permit will be issued have been missed and it is therefore not wise for the company to be any more specific than they are being.

RL is intending to go. He had a flight booked with Air France that got cancelled due to COVID. AF did not refund it but said he can have it when he wants it so the flight is already paid for and a reduced service is operating. He can get in and out ok but would need to quarantine on return, which is not a problem as he mostly works from home anyway. However if the President were to say he wants to sign tomorrow then there is someone in country who could do it. Nobody has any better idea of when that might be - as far as RL is aware it could be tomorrow or it could be sometime much later. Things happen in Africa when they feel like happening, it is just something you have to put up with if you want to do business there. You should always expect things to take longer than you expect especially as Togo is a former French colony which combines what is worse about France and worst about Africa. The company has been very clear in the past that they don't do brown envelopes, which can backfire spectacularly and are not worth the risk.

Nobody is more frustrated than RL who has not drawn a salary for ages. The key thing is there is now another project which is already generating revenue and the company coffers are quite healthy for a change.

[greatfull dead] 27/8/2020 07:36

BD,

You may well be right. RL an DR are very businessmen and assistance is at times needed to get a great deal completed. This has happened and KRS PI's should be delighted, most I believe are, I am...

hxxps://www.share-talk.com/keras-resources-plc-krs-l-acquisition-of-producing-phosphate-project/#gs.dz1fuu

ATB,
GD

[bo doodak] 27/8/2020 00:17

Tradedesk, I'm thinking du Plessis may well have had a part in giving them the heads up on the availability of this deal.

[tradedesk1] 26/8/2020 23:51

Bo, a very good point and you are correct RL mentioned he and DR started looking at the Utah Project last year and personally paid 350k each for the bulk sample which happened in November (as per page 8 of latest presentation) and the Decree from the Council of Ministers in Togo was only issued in the October so I agree with you its not a pivot away from Togo at all, Utah was always going to happen and the company is derisked this way and that permit could be issued any day. Very much game on.

[bo doodak] 26/8/2020 23:18

In the last interview RL mentioned that the Utah project had been under consideration for quite some time now (last Nov if I recall correctly).

The Togo ministers decree was only in October so that timescale indicates IMO that this deal was initiated totally independently of the chances of nailing down the outstanding signature.