Keras Resources Share Discussion Threads

[cpap man] 28/8/2018 10:57

Keras Resources* (KRS LN) 0.385p, Mkt Cap £8.8m – Start of bulk-sampling at Nayega

Keras Resources reports that its 10,000 tonnes bulk-sampling programme at the Nayega manganese project in Togo is now underway.

Mining is currently taking place and the mobile screening unit required for the sample preparation has “at Port Lomé and will be at Nayega by the first week in September to commence Phase 2 of the Bulk Sample”

“The final phase, comprising the washing and scrubbing of the Detrital and Lateritic units of the Nayega orebody is planned to commence in mid-November. Appropriate Process Technologies Pty Ltd will commence commissioning of the 20 tonne per hour scrubber plant at the beginning of November.“

As previously reported, the work is being funded by “a major producer of manganese-based alloys … to assess the suitability of the ore in their Mn smelting facilities”.
Commenting on progress, Chief Executive, Russell Lamming described the start of the bulk-sampling programme as “another milestone in the Nayega Manganese Project's progression towards regulatory approval for commercial production.”

Conclusion: The start of the bulk-sampling at Nayega should help establish the suitability of the material for a major potential customer.

*SP Angel acts as nomad and broker to Keras Resources

[zhockey] 28/8/2018 09:52

RS why do you think they did such a large soil sampling and are talking in interviews about camp size deposits?

[edgein] 28/8/2018 09:36

RS,

Indeed, lots of diamond cores and infill needed to get to measured and indicated, its not all about extension drilling and finding new discoveries that do not add much to the proven and probable. They need firm measured and indicated for the PFS/DFS.

Good to see the bulks sample started and funded by the partner, too much progress on that front could lead to dilution of the CAI distribution though. Nayega previously needs something like $9m for fully funded phase I concentrate production. Makes me a little nervous that this could come before the CAI distribution. Or CAI shares may be held back to fund this.

Regards,
Ed.

[rec0very stock] 25/8/2018 13:18

zh,

I think you underestimate how much drilling is needed to prove up 1MOz at and average of 2g / tonne. They need to be indicated, not inferred Oz to have credibility. At some point they will need to do a load more drilling to move some of it up to measured.

[zhockey] 24/8/2018 17:40

RS

I think you may be be missing the CAI story. I think they have massive potential that is about to be unleashed. Three active drill rigs is not for 1M oz and a PFS. Something much larger is brewing.

[rec0very stock] 24/8/2018 09:49

Personally I think the swings are too small and the spread too wide to make it worth trading this, however each to their own - money is money and it does not matter how you make it.

CAI is continuing to rebound on the news. I would expect it to be around 5c on resource upgrade announcement and then around 6c on positive PFS (when our 2nd tranche of performance shares convert to ordinaries).

Good to see everything is in place in Togo to start on time. All ticking along nicely below the radar of the market.

[stockriser] 24/8/2018 09:19

Zhockey - "I decided that with 3 rigs operational the positive momentum is just about to get going."

Totally agree m8, although I did sell a very small amount to top up elsewhere.

[zhockey] 24/8/2018 09:01

Could be a shrewd move and I considered that also, however I decided that with 3 rigs operational the positive momentum is just about to get going.

There is no point valuing the KRS stake at current CAI price. CAI is all about multi million oz potential.

[bozzy_s] 23/8/2018 13:43

I calculate the value of KRS's shares in Calidus ASX:CAI (458m + 265m, assuming conditions for the final tranche are achieved) as follows:

723 million @ AU$ 0.034 = AU$ 24,582,000

1 AU$ = 0.57 GBP

So at today's exchange rate, at today's CAI share price, 13,910,462 GBP

Divided by 2,289,133,439 shares in issue

0.61p per KRS share


Edit for my own records 6/2/19

723m x 0.03 = au $21.69m

/1.81 = £11.98m

/2289133439 = 0.52p per KRS share


So the recent good news, and potential upcoming great news on Nayega, are valued at less than zero.

I sold my KRS shares first thing, expecting any rally to be sold into. Very much on my watch list if they drop any further, in anticipation of a Nayega deal. An offtake agreement, a JV, anything to get the product to their keen customer.

[greatfull dead] 23/8/2018 08:16

Ed,


Very true on your take for the longer term future of CAI.
hxxps://www.calidus.com.au/project/warrawoona-gold-project/

Another day another $

ATB,
GD

[edgein] 23/8/2018 07:49

Very interesting for the longer-term future of CAI.

Regards,
Ed.

[andylee3] 17/8/2018 23:19

No error Zhockey, over 3 million in buys today.

Doesn't take much volume to get this to move up....or down.

[zhockey] 17/8/2018 17:22

Must be an error?

[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.