Keras Resources Share Discussion Threads

[stockriser] 17/8/2018 16:30

Sudden bit of excitement at the end of play! Come on Mr Market, wake up and smell the coffee ;-)

[stockriser] 16/8/2018 20:52

RS ' thanks for that, even more positive now.

GL SR

[rec0very stock] 16/8/2018 17:02

Answer from Russell via St Brides

Hope all is well. I believe you’ve been in email contact with Russell following the recent RNS; he’s travelling at the moment but asked me to respond to your recent enquiry on his behalf.

The scrubber that Keras has decided to purchase is included in the funding agreement.

[zhockey] 15/8/2018 13:08

Not much of a conclusion is it?

[cpap man] 15/8/2018 10:33

Keras Resources* (KRS LN) 0.4p, Mkt Cap £8.2m – Bulk sampling at Nayega

Keras Resources reports that it has appointed a Project Manager and a mining and logistics contractor to advance the 10,000 tonnes metallurgical bulk sampling programme at its Nayega Manganese project in northern Togo.

An experienced mining engineer, Graham Stacey, has been appointed as Project Manager and Togo-based Carriere Mines Travaux Public (CMTP), which “currently operates two opencast mines in Togo and has a logistics business reaching into Burkina Faso, Niger and Mali … will provide the mining and screening equipment for the bulk sampling operation and will be arranging all logistics between Nayega and Port Lome.” The plant contract has been awarded to a Johannesburg based mining equipment manufacturer, Appropriate Process Technologies (APT).

Commenting on the appointment of Graham Stacey, who has worked with him in the past, and of CMTP as the contractor, Chief Executive, Russell Lamming said “the appointments of Graham, CMYP and ATP are critical to the success of the operation”.

Mr. Lamming went on to reiterate that “the entire Programme is fully funded by a major producer of manganese based alloys as announced in July and includes a management fee for Keras which will cover overheads and salaries.” The announcement in July indicated that the programme cost was around US$1.5m.

Conclusion: The metallurgical bulk-sampling programme is being funded by a potential customer in order to establish the suitability of the Nayega ore for its smelting plant.

*SP Angel acts as nomad and broker to Keras Resources

[stockriser] 15/8/2018 10:23

Thanks for the responses to my Q re: scrubber ;-)

[edgein] 15/8/2018 09:08

Stockriser,

I would imagine that its part of the funding package that was previously arranged. Its only a small mobile plant hired from the manufacturer mentioned.

Regards,
Ed.

[zhockey] 15/8/2018 09:07

P.S. It's nice to have a date for the programme completion, good work Russell!

[zhockey] 15/8/2018 09:01

SR it undoubtedly has, although CAI have not delivered anything substantial this year (yet)

[greatfull dead] 15/8/2018 08:57

KRS are on my top up list.

ATB,
GD

[stockriser] 15/8/2018 08:48

ZH - I agree m8. Regardless it's a step forward, although the market has yet to react! Perhaps the POG has caused the muted reaction.

[zhockey] 15/8/2018 08:47

Well at this rate and with gold going down the tubes, KRS could be worth more than CAI soon.

[zhockey] 15/8/2018 08:33

I'd imagine it's covered.

[stockriser] 15/8/2018 08:11

"Although this is a single bulk sample exercise, Keras has opted to purchase the bespoke scrubber plant rather than outsource to ensure that the optimal grade is achieved during this programme and that we can seamlessly transition to commercial production once approval is granted."

So is the purchase of the scrubber included in the full funding, or is this a separate cost to KRS?

[edgein] 15/8/2018 08:05

Encouraging to see how Russell has put this altogether and a bit of progress on Nayega after a long time. Hopefully the bulk sample will lead to something more substantial in Togo. Its been a long time coming for Ferrex holders, thankfully the gold has materialized into something more meaningful in the mean time. Perhaps they'll be ready to progress Togo sometime next year, preferably after June. :)

Regards,
Ed.

[cpap man] 15/8/2018 07:52

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

15 August 2018

Keras Resources plc ('Keras' or the 'Company')

Update on Bulk Sampling Programme

at Nayega Manganese Project in Togo



Keras Resources plc, the AIM listed mineral resource company, is pleased to announce a number of appointments to advance the 10,000 tonne bulk sampling metallurgical testwork programme ('Programme') at the Nayega Manganese Project in northern Togo ('Nayega'), which hosts a current JORC Code Mineral Resource of 13.97Mt @ 12.4% manganese. Keras has appointed Graham Stacey as Project Manager, Carriere Mines Travaux Public ('CMTP') as the turn-key mining and logistics contractor and has awarded the bulk sampling plant contract to Appropriate Process Technologies Pty Ltd ('APT'). Furthermore, equipment has been mobilised to commence the bulk sampling on 27 August 2018.



Graham Stacey is a qualified Mining Engineer with 20 years' experience across a range of commodities including underground and opencast mine design, project execution, operations management and mineral resource management. He has worked with a number of leading mining companies, including eight years with Anglo American plc in the coal and platinum operations and project divisions. Following this he spent four years at mining industry consultancy, Venmyn Rand Pty Ltd, focussing on mineral asset valuations and related compliance reporting and technical consulting. In 2008 Graham was appointed as COO and Director at Chromex Mining plc ("Chromex") an AIM listed junior chrome miner, and then went on to spend four years as head of projects at JSE listed Keaton Energy Holdings Limited, which included project assessment and evaluation in the Southern African Development Community region.



CMTP is a Togolese mining and logistics contractor located in the Togo capital, Lomé which has been operating in West Africa for the past 20 years. CMTP currently operates two opencast mines in Togo and has a logistics business reaching into Burkina Faso, Niger and Mali. CMTP will provide the mining and screening equipment for the bulk sampling operation and will be arranging all logistics between Nayega and Port Lomé.



APT is a mining equipment manufacturer based in Johannesburg, South Africa, which specialises in complete, modular, pre-assembled mining equipment solutions. APT is responsible for the fabrication and commissioning of the 20 tonne per hour bulk sample scrubber plant required to upgrade the manganese at Nayega.



Russell Lamming, Chief Executive Officer of Keras, commented, "The bulk sampling exercise is progressing well and the appointments of Graham, CMTP and APT are critical to the success of the operation. Graham and I developed Chromex's Stellite chrome mine from a greenfield exploration project to a profitable chrome mining and processing operation, following which Chromex was sold to a Ruukki Group Plc affiliate, Synergy Africa Limited, for £37 million, so I know first-hand that he has the skillset suited to manage this Programme. Furthermore, it is clear to see from CMTP and APT's operational experience that they have the requisite knowledge and abilities to help us execute the bulk sampling operation.



"Graham and CMTP have been working closely on the Programme scheduling and have mobilised equipment to commence operations on 27 August. Although this is a single bulk sample exercise, Keras has opted to purchase the bespoke scrubber plant rather than outsource to ensure that the optimal grade is achieved during this programme and that we can seamlessly transition to commercial production once approval is granted. The scrubber plant has a 10-week lead time resulting in an estimated completion date for the entire bulk sampling programme of mid-January 2019. I think it is important to reiterate that the entire Programme is fully funded by a major producer of manganese-based alloys as announced in July and includes a management fee for Keras which will cover overheads and salaries. We look forward to providing shareholders with further updates on the bulk sampling work in due course."

[stockriser] 15/8/2018 07:39

Recovery - there is reference to that in the RNS. Sounds an extremely positive, and polished plan. Talking as if they are already in production.

[rec0very stock] 15/8/2018 07:34

"Graham was appointed as COO and Director at Chromex Mining plc ("Chromex") an AIM listed junior chrome miner,"


That will be where Russell knows him from. Russell was CEO of Chromex.

[stockriser] 14/8/2018 09:23

"With so much prospective real estate in the mix, Calidus is quickly closing in on the magical million ounce resource mark"

"The company is scheduled to announce an upgrade of its resource inventory in the December quarter this year, which will underwrite a PFS set down for completion in the first half of 2019"

[zhockey] 10/8/2018 15:04

That's encouraging thanks.

[rec0very stock] 10/8/2018 14:47

chirpy is 100% correct. The actual distribution method will be as an in-specie dividend. The company reconstruction is needed because historic losses preclude the payment of dividends. What is not clear at the moment is what the tax implications of getting the CAI shares will be (is it CGT? and if so what is the value on getting them to offset against what you one day sell them at etc), however that only relevant for shares outside ISA / SIPP.


All will become clear nearer the time. The shares do not come out of Escrow until 26 Jun 19, there will be a certain amount of messing around, including a GM, before the shares are actually distributed.

[chirpy cheep] 10/8/2018 14:25

I am one!!!!

[zhockey] 10/8/2018 14:10

It's something that should be 100% clear. Maybe need to ask an IFA

[chirpy cheep] 10/8/2018 13:54

How will it affect the ISA allowance, it won't be a new investment ? You won't be putting NEW money into the plan.
It's, to me, just a big scrip dividend
So the answer, again to me, is definitely not.