Keras Resources Share Discussion Threads

[tim000] 26/5/2024 16:23

Incidentally, if the winner of the Nayéga project tender process is a reputable international business, KRS’s interest might become marketable, eg to the contractor. While it would have to be sold at a discount no doubt, as you say the proceeds could be invested in expanding the phosphate business, in preference to raising equity finance at a much larger discount to fair value.

[tim000] 26/5/2024 16:10

I don’t think anyone is exaggerating the manganese project, even you are stating it could be worth up to 4x the current mkt cap!! A better way to look at it is that the manganese project should not be written off as worthless, recent developments suggest it could have a material impact on the future value of the company.

[markyess] 26/5/2024 16:02

Please do bear in mind that the Togolese Manganese project is (now) little more than 'cream' with us only getting around 7.5% of project revenues in management fees and brokerage for 3 years.

It could be worth as much as $12m over the 3 years, but likely less. Still better than nothing but any proceeds will almost certainly be invested in Diamond Creek or securing a new project site.

Phosphate is Keras' play. Focus on the Manganese play at your peril.

[tim000] 26/5/2024 15:35

Christopher Grosso, on behalf of his fund management business Kershner & Grosso, holds 13.7mn shares (17.0%). Grosso has a good track record in small caps, eg a KRS RNS mentions a ca 100 fold share price increase in his investment in the silver miner Silvercrest. 8.0mn shares were acquired off market @2.5p, the other 5.7mn shares seemingly were acquired on market between June and November 2023 at share prices of ca 4p, giving a weighted average of ca 3.1p. His family has subsequently provided about £600k of debt finance, half of which is a CLN convertible at 4p (equivalent to a further 7.5mn shares if converted). The Grosso family direct and indirect shareholding would then increase to 24%. So a very successful US entrepreneur has made a large vote of confidence in the business, and no doubt will provide further funding if needed. Moreover, the recent spike in the manganese price and progress at Nayega is all post the Grosso share acquisitions. Next up is some news on commissioning the new milling plant - expected in late May - and news on the Nayéga tender process - possibly in June/July.

[tim000] 25/5/2024 22:40

And KRS states in the latest update that the mine can be brought into production relatively quickly.

[the skipper] 25/5/2024 19:33

And let's not forget that tenders for the mining and processing of the Manganese ore close in just under a fortnight. Hopefully we'll have news of a contractor appointment in a month or so.

[tim000] 25/5/2024 10:43

Posters on LSE estimate prospective royalty revenues to KRS of ca £2-2.5mn pa for 3.5 years, at current mkt prices. That’s based on very low production forecasts however of about 80k tonnes pa. The agreement gives a cut-off of 900,000 tonnes after 3.5 years. As already stated, the Togo govt is strongly incentivised to ramp up production asap. Were they to achieve production of 900,000 tonnes cumulative within 3.5 years, KRS revenues might be much higher, depending on mkt prices at the time.

[jimbl] 25/5/2024 10:09

You'd like to think so. Let's see.

[tim000] 25/5/2024 09:56

True, but they are rather more incentivised to move quickly, now that they are 100% owners and prices have doubled.

[jimbl] 25/5/2024 09:46

The entire point of it all is that Togo itself needs to get on with realising the inherent value of Nayega.
We wanted a license to mine 10 years ago and the Gov still hasn't got its act together even now they've taken it from us

[tim000] 25/5/2024 09:19

I’ve only recently discovered that a very large manganese mine in Australia majority owned by S32 was severely damaged by a cyclone, and is expected to be out of action for around a year. In consequence manganese ore prices have roughly doubled due to supply shortages. It’s unlikely these shortages can be closed for some time. S32 apparently has other production facilities, so has benefited from the much higher prices and hence might not be in any rush to spend large sums restoring the mine damaged by the cyclone. Togo thus has every incentive to get Nayega into production asap. Share prices of manganese miners have risen strongly; it appears that, like me, the market has not picked up on the potential value of the Togo mine to KRS.

[citys2874] 20/5/2024 11:41

In the top 35 gainers on the leaderboard now

[citys2874] 20/5/2024 11:20

up 8 per cent moving up nicely

[citys2874] 20/5/2024 11:03

buying pressure now rising

[citys2874] 20/5/2024 11:03

up 5 percent

[citys2874] 20/5/2024 11:02

in the top 50 gainers on the leaderboard now mms ready to let go

[citys2874] 20/5/2024 08:51

should breakout past 3.00 this morning and head up to 3.50 today...good start

[jimbl] 16/5/2024 15:46

Unless you're a woman, there's no chance you'd ever be married to me.

[the skipper] 16/5/2024 15:32

jimbl why are you always trying to have a pop at me? This time trawling back to a post I made 15 months ago in order to do so. At that time I only held this stock in my Shard account and averaged down there around three weeks ago right at the bottom, as reported on here. At the same time I also started building a position in my account with II and it is in that account where I am now sitting on a decent profit, whilst remaining slightly underwater in my Shard account and up overall thanks to the very low cost average in my II account.

I’m glad I’m not married to you. You must be a nightmare to live with.

[citys2874] 16/5/2024 13:55

in the top 5 risers moving up the leaderboard and gaining momentum

[tim000] 16/5/2024 13:45

The new US shareholder came on board at a much higher share price I believe. And he wasn’t looking to break even. The assets of the business are such that it has plenty of scope to grow, while the current mkt cap is peanuts still. I agree, buy and hold.

[citys2874] 16/5/2024 13:37

in the top 10 gainers on the leaderboard looks like afternoon rally underway

[jimbl] 16/5/2024 12:57

@TheSkipper.
Handsome profit you say? Feb last year you were saying "...but should be back to break even when this hits 4.2p."
You must have averaged down A LOT since then, or are just talking nonsense. Which is it?

[citys2874] 16/5/2024 12:48

3.00 ready to be taken out and mms will push this up towards 3.50 later today with some volume

[the skipper] 16/5/2024 12:30

Sitting on a handsome profit now but am I selling? Hell no, it’ll be buy the dips from here on imo.