Keras Resources Share Discussion Threads

[4sta] 25/1/2017 14:43

Do you actually think that the ASX listing may not go ahead? If so, why do you still hold the 11 million shares that you state, nearly 50k is a lot to risk if you feel things could go wrong.

[the count of monte_cristo] 25/1/2017 13:48

...shame we aren't in graphite or lithium. Still nice to see speculation and interest return to the small cap explorers, check BEM...WAFM out. The small cap explorers have been left out in the cold for about 4 years.

KRS just needs a bit of positive news and it could be our turn.

[the count of monte_cristo] 25/1/2017 13:33

4STA - if you go to the AGM then you can ask these questions.

Not plugging GGP, questions have been asked and I have answered them. Simple. Its not about those initial grades its about the hunt for multi million oz deposits, those grades are not very good, but they 'may' lead to something, potentially a game changer, very early days though. Highly speculative, hence why the stock increase 100% and is now falling back.

For the record I don't currently hold any GGP, but do hold 6m KRS and have been in here for years and still continue to listen to the highly positive updates from DR.

[4sta] 25/1/2017 12:26

RS,
Think you'll agree that most of the companies on AIM rely on the ability to raise funds to further their projects. Isn't that what a listing on AIM is for? At least Keras have excellent prospects unlike many of the others ( who, despite this fact manage to get placings away anyway ).

TCOMC,
Why do you keep plugging GGP on the Keras thread.The one thing I would agree with RS on is that GGP's grades were dreadful and as Edgein has also pointed out there is nothing until over 100 metres down. If I were the board I would save everyone the time, considerable expense and trouble and walk away now.

Edgein,
My thoughts too. think the ASX listing ( and the licence for Nayega ) will be the making of Keras.

[edgein] 25/1/2017 09:24

Here is what the management had to say a couple of months ago:

"Based on significant interest we have received from investors in Australia we are pursuing a dual listing on the ASX. Importantly, strong investor appetite for Australian gold stocks on the ASX positively impacts valuations and we believe this will benefit all shareholders, both in London and Australia, in the future. This will also provide us with the capital to refinance the Acquisition Finance Facility with less dilution for existing shareholders. Our Board supports our Australian gold focus and I would like to thank its members for also enabling our board restructure and in particular. Roy Pitchford's contributions since the formation of the Company, through the Admission process and beyond are greatly appreciated."

Sounds like the Ozzies are keen to get in on Klond as management suggest only a fraction of the resources are covered by the current gold reserves.

Regards,
Ed.

[edgein] 25/1/2017 09:08

Novice,

Personally I'm looking forward to the ASX listing, these are over looked on the AIM market and the ASX tends to be more bullish on miners. I could see these rise significantly after an Ozzie listing to match the potential of their assets.

Regards,
Ed.

[greatfull dead] 25/1/2017 08:35

It was good reading the posts from yesterday. Good info given by some.

ATB,
GD

[the count of monte_cristo] 24/1/2017 19:45

4STA - will you be going to the AGM?

In regards KOD, I had a look at them, seems that a company next door to them has been approached by a Chinese company hence why their is large speculation in KOD about the Chinese also making a bid for their asset.

In regards GGP, silly to compare to be honest, forget about those initial grades, its the SPECULATION that they have POTENTIALLY opened up a NEW gold province, key sentence is "Greatland has discovered a new gold province in this largely unexplored region". In regards whether or not they will even do any further drilling, today they released an RNS announcing a 5,000m 20hole drill campaign over the coming months.

Its very early stage, could turn into nothing, but then you only need one of these to make a company as SOLG has shown....."The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries at Ernest Giles".

Anyway, back to KRS need to get the drill bit working, which costs money.

[rec0very stock] 24/1/2017 19:14

The full Annual Report is here and well worth reading, clearly some here have no idea what it contains or what it means:



INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF KERAS RESOURCES PLC (CONTINUED)

Emphasis of matter – Going concern

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures made in note 2 to the financial statements concerning the Group’s and the Company’s ability to continue as a going concern. The Group incurred a net loss of £2,239,000 during the year ended 30 September 2016 and, at that date, had net current liabilities of £1,788,000. The continuation of operations is largely dependent on seeking finance through external sources. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Group’s and Company’s ability to continue as a going concern. The financial statements do not include adjustments that would result if the Group and Company were unable to continue as a going concern.

Not exactly what you need when trying to dual list a PLC / get an AIM placing away at a premium.

The notes often contain interesting info

"At the year end the directors consider that the balance of the consideration for the Chaffers acquisition, the further share issue to the value of £465,000, will no longer be payable as they consider it unlikely that 10,000 oz of gold will be extracted from this resource."

One of the things that will be discussed at the AGM will be the annual report. I hope to see as many of you there as possible. Last year I was on my own.

[4sta] 24/1/2017 18:40

RS,
Surely you're not implying that Keras as a company has any similarity to Strat Aero?
Or is it just a name you've thrown into the mix hoping it'll frighten off any potential investors knowing of the awful reputation Strat Aero has?
I have to say I'm tempted to come to the AGM and discuss your motives as I think it highly unlikely you own a single share here although you probably are hoping to which would explain they way that you very sneakily post negativity.

[dingo75] 24/1/2017 18:09

it means you emphasise on a particular matter

[4sta] 24/1/2017 17:37

Could somebody please explain what an emphasis of matter is please?

[rec0very stock] 24/1/2017 17:29

Ed,

I have never seen a placing at a premium on AIM in a company that has an emphasis of matter in its accounts. Strat Aero has an Emphasis of matter in its accounts and has just given away half the company to raise a measly £380k at a 50% discount to previous closing bid.

If the drilling programme shows that the sorts of grades discovered in some of the relatively small number of holes drilled are matched across the area, then I agree it would be an excellent asset, however with such a small number of holes drilled, it is only promising. For comparison GGPs drilling results were dreadful in my view and I am not sure why they are even bothering to drill anymore holes in the ground.

I have not bought more shares for nearly a year now and have had to resist the temptation to cut my losses, particularly when the tribute projects were so disappointing. I have read and assessed all the info the company has produced and whilst I remain very nervous about the financial state of the company and how long it is going to be before any real value is realised, I still have faith in Dave Reeves ability to deliver, but he is not a magician.

[edgein] 24/1/2017 16:11

RS,

Old Ed is very realistic and has done the sums on Nayega given the parameters that KRS set and also phase two development to Ferromanganese production. The numbers are significant and that is why KRS still class it as a core asset. Yes the DFS was completed about two years ago now.

Klond grades look excellent rather than promising. Decent to high grades from surface to EOH on many holes, therefore open at depth and width. I guess that is why management took up those permits close to Klond to increase the exploration area. Imo over the longer term Klond and these permits will contain well in excess of 1M oz. Since you apparently hold 11m shares you must be secretly very confident in the future.

Regards,
Ed.

[edgein] 24/1/2017 16:02

RS,

I've seen a number of placings on AIM at significant premiums over the years. So therefore imo it would be wise to sit back and relax and wait for the management to get the job done. I would like to see anyone trying to get 500m shares in these in the open market, share price would be through the roof, as you say they're fairly illiquid and tightly held. Noone would want to be out if that licence comes for Nayega. Will the KRS team place a small amount prior to ASX listing, hard to say. AIM will just move to match the placing price set for the Ozzie listing.

Regards,
Ed.

[rec0very stock] 24/1/2017 16:01

Ed,

Klond and Nayega are at very different stages of development and therefore risk. Nayega is basically at DFS stage all we need is the licence and the precise tax and royalty costs and the DFS can come out, then a funding deal can be done and production can start. Klond is an early stage exploration. Grades look promising, but much more drilling is needed to get to a PFS. Projects at this stage are virtually impossible to value at all let along declare them to be excellent. Indeed I would like to see the Nayega DFS before deciding whether or not it really is excellent.

If you create unrealistic expectations then you are almost certain to be disappointed, if you look at things realistically then you have a good chance of being pleasantly surprised.

[rec0very stock] 24/1/2017 15:53

4STA,

Yes you misread my post, Count managed to read it correctly. I still hold over 11M shares and I am going to the AGM. Come along too and we can discuss my motives or anything else you want to question.

Novice,

I think they will do a UK placing after ASX. To try to use AIM instead of ASX they would have to issue nearly 2Bn shares at a whopping discount. 1 they do not have the authority. 2 the management would never accept that level of dilution.

The point of ASX is to open up to a new set of potential shareholders who have a far better understanding of the Australian part of the business. I still see no reason why they would pay significantly more for shares in the PLC than what they are trading for on AIM, hence why not trying to sell exactly the same thing is a smart move.

[edgein] 24/1/2017 15:46

RS,

Lets just say I've a little more optimistic outlook on KRS that you. :) Well that will be the benefit of the dual listing, there will be two markets to work from, if AIM keep ignoring the grades then the ASX is unlikely to. Things are not all that bad in terms of hard commercial reality, Klond and Nayega are two excellent assets for any small cap miner. If THR has little problem raising money on the ASX I cannot see KRS having any problems at all. The ozzies like old Ed are a little more optimistic too.

Regards,
Ed.

[novicetrade68] 24/1/2017 15:43

RS, may be KRS could still do a UK placing. Over recent weeks some companies on AIM did placings and nearly trebled shortly there after like KOD & URU. May be a similar scenario could play out here.

[4sta] 24/1/2017 15:42

Seems I'm not the only one that thinks Recovery Stock is doing his best to put a negative slant on what he writes. Yesterday I read his post as saying that Togo was worthless - " plus Togo and other largely worthless IO assets". Questionable motives.

[edgein] 24/1/2017 15:25

RS,

Your post read as if KRS were placing £500k shares at nominal value. I'm expecting the ASX dual listing to be at a premium to the oversold AIM price. For example GGP hit a cap higher than ours and their grades are about 5% of what KRS recently reported for Klond. I'm sure as management have 16% of the issued shares here they'll be acutely aware of the value of both Nayega and Klond to the long term future of the company. I therefore expect both the price and quantity of shares placed to take in the 2017 drilling programme and then some.

Regards,
Ed.