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Keras Resources Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Keras Resources Plc LSE:KRS London Ordinary Share GB00BMY2T534 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 4.10 24,195 08:00:00
Bid Price Offer Price High Price Low Price Open Price
3.90 4.30 4.10 4.10 4.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Iron Ores 0.45 -1.73 - - 258.14
Last Trade Time Trade Type Trade Size Trade Price Currency
11:53:36 O 24,195 4.133 GBX

Keras Resources (KRS) Latest News

Keras Resources (KRS) Discussions and Chat

Keras Resources Forums and Chat

Date Time Title Posts
24/5/202313:43KRS Finally Coming of Age3,304
05/4/202221:10Keras Resources (ex Ferrex) - mining gold and manganese in 20161,753
15/12/201701:25Keras Resources (LON:KRS) shallow resources that can be extracted easily and con617
27/9/201711:42ASX listing stinks!8
01/7/201614:41Ferrex KRS63

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Keras Resources (KRS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-01 15:13:453.931,04340.99O

Keras Resources (KRS) Top Chat Posts

Top Posts
Posted at 24/5/2023 09:58 by gb904150
I think most would agree that the 'deal' is pretty abysmal compared to the money and years of effort that have been expended.

That said, Nayega/Togo has been valued at zero for years now. No real expectation of any resolution to the problems there. It has been apparent for years that the government weren't in favour of KRS mining it.

If the $1.7m is all KRS see from this deal then that is fine but that will mean the Togolese will learn nothing from the BOD and are unlikely to do a good job of exploiting the resource. I guess that's up to them.

If they had any sense they would accelerate the entire project - get it up and running as fast as possible, optimising it with the input of the KRS BOD.

The more likely is they will dither and delay, but in that case they are the ones that will lose out as they will learn nothing.

It's clearly up to them (Togo govt) but the opportunity is there.

Yes it's a rubbish deal, but that's why KRS pivoted to Utah. If they hadn't they would be in an even worse situation, dependent on this single resource, limited to 3.5 years of revenues and with only $1.7m to show for it. They might not even have had that if they didn't have a plan B.

DC too was a mess and owning 51% of it proved not to be great, but that too is resolved and we now have the 2nd payment of $800k available to us. That was hanging over us but now isn't.

It now just comes down to whether DC is a good project and can generate much profit.

Posted at 18/5/2023 21:49 by the skipper
I see that a poster on lse sought Dave Reeves’ view on the deal and posted his response as below:

“ Dave reeves shared his thoughts on possible earnings from Nayega going forward. He said I could post here.

"No doubt you have seen the news today. Attached are my calcs on what it is worth to Keras, min $4.5m, Max $14m…! Just depends on the size of the plant the government install. Smaller is the plant on site, larger is what we planned to do.

Feel free to share on bulletin board and these are my own calcs, not the companies!



Saleable grade (%) 37.00%

Price ($/dmtu FOB) 3.5

Saleable production (dry tpm) 7,480

Advisory & brokerage fees (%) 7.50%

Value to Keras

$/month 72,650

$/year 871,794

$/3 years 2,615,382


7,480tpm (dry) is the product capacity using current infrastructure installed during the bulk sample

23,375tpm (dry) is the planned production using an upgraded scrubber plant per KRS internal study

Sales tons v Price ($/dmtu ) sensitivity

3. 3.5. 4 4.5 5 5.5 6

7,480 $2,241,756 $2,615,382 $2,989,008 $3,362,634 $3,736,260 $4,109,886 $4,483,512 ”

Maybe we’ll at least see some stability here now prior to the update on Utah, with the speculators on a better deal in Togo having taken their leave today by the look of things.

Posted at 18/5/2023 11:05 by apotheki
Keras Resources* (KRS LN) 5.25p, Mkt cap £3.9m – Fully focussed on N America as Togo takes on the Nayéga manganese project

(Keras holds 100% of the Diamond Creek phosphate mine in Utah, UASA. Keras also holds an 85% interest in Societé General des Mines for the Nayéga manganese project in Togo)

Keras Resources reports that it has agreed with Togo that the Nayéga manganese project is “a Togolese strategic asset” and that it will be transferred to a state company, Société Togolaise de Manganèse along with Keras Resources’ “intellectual knowledge on Nayéga”.

Keras will receive a US$1.7m cash payment and “will be paid an advisory fee of 1.5% … of gross revenue generated from the Nayéga mine for the provision of advisory services for 3 (three) years … [as well as] … 6.0% … of gross revenue generated from the Nayéga mine for the provision of brokerage services for the lesser of 3.5 (three and a half) years or 900,000 (nine hundred thousand) tonnes of beneficiated manganese ore produced and sold from Nayéga”.

The company says that the proceeds from Nayéga “will be used to fund the second US$800,000 tranche for the acquisition of Falcon Isle” which owns the Diamond Creek “high-grade organic rock phosphate mine located in Utah”.

Keras Resources confirms that as a result of its agreement with Togo it is now fully-funded to start resource exploration in Utah as well as to convert its “current mining permit to a large-scale mining permit which will create significant flexibility in medium to long term mining operations” and to complete the granulator plant and research “the development of liquid organic products from our existing product streams in order to access markets not already served”.

CEO, Graham Stacey, explained that the agreement over Nayéga “finalises Keras's transition into a fully focussed high grade organic fertiliser producer in the United States … [and] … draws a line through the uncertainty related to the Nayéga asset”.

The company confirms that the cash payment from Togo, which is “due on 17 July 2023 and ongoing cashflows associated with this Agreement underpins the already robust Diamond Creek mine economics which Keras will continue to develop into the premier organic phosphate producer in the US”.

Conclusion: Disposal of Nayéga provides funds for Keras Resources to expand and focus on its Utah phosphate business while eliminating uncertainty surrounding the development of the manganese project in Togo.

The deal with the Togo government should give nearly $0.9m a year at a price of $3.5/dmt for manganese and production of 7,480tpa equating to some $2.6m over three years.

Indonesian manganese ore currently sells for around $4/dmt which would give Keral around $3m over three years. If manganese prices rise to $6/dmt the value of the deal to Keras should rise to around $4.4m assuming production of 7,480tpa and to $14m if production runs at 23,375tpa.

*SP Angel acts as nomad and broker to Keras

Posted at 18/4/2023 05:27 by sos100
Chris Grosso will hold the shares on behalf of Kershner Grosso which manages in excess of USD400mn on behalf of its clients, investing in businesses in the junior resource sector which tend to be long-term in nature with Kershner Grosso providing ongoing support and guidance as dictated by each management group, until the full value of each asset is realised. Most recently, Kershner Grosso was the largest shareholder in Silvercrest Metals Inc, a Canadian precious metals exploration and production company headquartered in Vancouver, BC with its flagship asset Las Chispas Mine, in Sonora, Mexico. Kershner Grosso clients remain large shareholders in Silvercrest and have seen Silvercrest's share price grow from USD0.10 at the time of its spin out and initial private placement to its current price of over USD7.00.


Don't often see this mentioned on a holdings rns.🤞

Posted at 17/4/2023 16:42 by stockriser
Sounds very good news to me (even if they did get them cheap), I would suggest they may even be adding to their holding.


17/04/2023 4:30pm
UK Regulatory (RNS & others)

Keras Resources (LSE:KRS)
Intraday Stock Chart

Monday 17 April 2023

Click Here for more Keras Resources Charts.

RNS Number : 4811W

Keras Resources PLC

17 April 2023

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

Holdings in the Company

Keras announces that it was notified on 13 April 2023 by Chris Grosso from Kershner Grosso & Co. ('Kershner Grosso'), a Saratoga Springs, New York State based Investment Advisor that it had acquired First Uranium Resources Ltd's (CSE: URNM) (KMMIF:OTC) ('First Uranium') entire holding of 8,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") in an off-market trade at 2.5p per Ordinary Share. Post the announcement of 13 March 2023 stating that AxCap Ventures Inc ('Axcap') had sold its entire 5,610,000 shareholding in the Company, neither First Uranium nor Axcap hold a notifiable interest in the Company's issued share capital.

Chris Grosso will hold the shares on behalf of Kershner Grosso which manages in excess of USD400mn on behalf of its clients, investing in businesses in the junior resource sector which tend to be long-term in nature with Kershner Grosso providing ongoing support and guidance as dictated by each management group, until the full value of each asset is realised. Most recently, Kershner Grosso was the largest shareholder in Silvercrest Metals Inc, a Canadian precious metals exploration and production company headquartered in Vancouver, BC with its flagship asset Las Chispas Mine, in Sonora, Mexico. Kershner Grosso clients remain large shareholders in Silvercrest and have seen Silvercrest's share price grow from USD0.10 at the time of its spin out and initial private placement to its current price of over USD7.00.

The Keras Board is very pleased to have Kershner Grosso on board as a cornerstone shareholder. Kershner Grosso's investment philosophy is very much aligned with Keras's growth strategy in the US and the relationship is expected to provide access to new markets and opportunities throughout North America.

Posted at 06/2/2023 21:35 by nick rubens
cheers jimbl Could be connected to KRS poor share price lately. I don't know and why it would anyway.

Do KRS bulls expect meaningful revenue ahead so as to avert any future need for another equity raise?

Posted at 06/1/2023 23:41 by jimbl
Oh, I'm nailed on certain that a license in Togo would send us north rapidly. Unfortunately there's absolutely zero positivity or indication of that being satisfatorily resolved at any time, let alone any time soon.

As for telling the truth - what's your problem with it? $697,491 annual sales revenue is hardly earth shattering.

As for 'buyers piling in today' the share price closed 12% down. We are now worth 1/6th of the consolidation price. Spin that all you want, but it still sux.

Get some perspective. Fertoz, whose carbon capture model we seem to be following, is a long standing multi mine, multi country organic operator, including the NA market. It's share price presently stands at approx 10p. Its share price was only marginally more (2.8p) than ours currently is before moving into carbon credits/capture etc.

'Kinda suggests that organic fertiliser alone is not the golden ticket some promote it to be.

Posted at 23/8/2022 14:17 by livewireplus
Presume that was the temperature forecast - not the KRS share price forecast - although it is a tad more lively today (KRS SP)
Posted at 05/8/2022 10:30 by rec0very stock
I think it is worth recapping where we have been, where we are now and where we are hoping to go.

We had the successful demerger of CAI, which has left those of us who were in at the time and have not sold with ASX listed shares in a producing gold company. POG has come off its highs but is still way above where it was when the DFS was done. We await the phase 2 DFS which may also update some of the phase 1 assumptions. The current MCap of CAI looks to me to undervalue the company by quite a margin given all the potential resource that is yet to be proven up - a 20+ year LOM is entirely possible. The Lithium is early stage but for the stage it is at looks promising - let's see what Dave can get for it when it lists - aiming for end of 2022 but a lot will depend on market conditions at the time (he is not a forced seller so if the price ain't right he does not have to sell).

The demerger left KRS waiting for Godot in Togo and that was all. KRS is still waiting for Godot in Togo. There remain a range of outcomes from pull the plug totally and write it off, through sell to wash our face and have a small royalty to a miracle happens and Godot arrives. The company is totally realistic about all this and makes no false promises (they have had enough of those from Togo). The bare minimum money and effort is going in to keep all the possible outcomes alive.

A one trick pony waiting for Godot in Africa would have died - some AIM BoDs would have continued milking the dead horse for as long as possible doing placing after placing on BS RNSs just to keep their fees rolling in - the AIM lifestyle companies. Over all its years on AIM, firstly as FRX and now as KRS this has NEVER been a lifestyle company. The BoD has always owned a significant stake and has always put their own money in to support the company and maintain their stake. They have all put far more cash in than they have ever taken out. A bit like being football club owners, without being billionaires.

The KRS strategy is clear. Don't care what it is or where it is, it just has to be low CAPEX and near term cash generative - that in turn means it's going to be small, simple, but with a problem KRS can solve but the current owner can't - they would have done it already if they could.

Diamond Creek. Somewhere totally new - hooray out of Africa and into an area with far less jurisdictional risk. And a product that has a growing market, but never been done before by the BoD in any of their other projects. A local (if you call California local to Utah) JV partner (Shawn) who should know about and be able to market it.

First step - BOD puts their own money in to secure the project and begin to do the things Shawn was too inept to do, including a bulk sample so they had product with which to start growing the market.

Then we had the curse of Shawn. Had the BoD been smart getting in to bed with him? with hindsight possibly not, but the only way into the opportunity was through getting into bed with Shawn. Should the company have told us earlier about the problem with Shawn - I think they pushed the boundaries of AIM rule 11 but did not go over them for all the right reasons - going public does not help solve the problem. Most AIM companies push the boundaries of rule 11 and often go well beyond them. There was a short period where the project proved it was cashflow positive at project level, but overall it was still burning cash.

With the news in the public domain and the cashflow situation obvious, many predicted and expected the usual AIM microcap response - push out BS RNSs do some presentations, get the shares ramped on BBs and call the Broker to get a discounted placing away before Christmas. This period was a pure test of faith and I admit faith is a lot easier to have when you are sat on a load of CAI shares. If you stick the 2 bits back together through reversing the demerger arithmetic KRS share price today is about £1.20.

The BoD did what those of us who had faith in them knew they would. They went dark, they rolled up their sleeves to sort out the problem and, as they have many times before, ran the PLC on a shoestring. There was no guarantee of sucess and, as anyone who has seen them before knows, US litigation battles take years, cost a fortune and the only sure winners are the lawyers. Money was spent on lawyers, but smartly ie not issuing writs and getting into an impossible standoff to see who runs out of money first - I think they both would have.

Finally Shawn see sense and we have the lot. He gets a fair but not excessive pay off, which is still far less than he could have had, had he not behaved the way he did in the first place. Shawn's ineptitute created the opportunity in the first place and further ineptitude has created an even greater opportunity now.

First step to realising the opportunity we now have was raise cash - no surprise. FU coming in at 12p, the BoD putting in at 12p in addition to converting accrued salary at 12p and a fully subcribed Broker Option at 12p all with warrants at 18p sorts that out.

Yesterday's RNS tells us how it has been going since - it has been well commented upon so no more needs to be said.

The key to future success is sales growth - not normally an issue for miners. There is normally a market they can put all they can dig out into and / or an offtake agreement which they satisfy. Sales is the key to everything here and optimising everything to grow sales and increase margins is what gives us and the BoD the reward. It is also clearly the biggest remaining risk. Macro tail winds help, but there is work to do and the right advice is needed as the BoD are miners, who can optimise margins, but not marketers / sales people.

How big is the reward? The Shard assumptions (how valid are any of those now?) gave an NPV at project level of £20m (£10m for KRS share when KRS only had 51%). Hopefully when things are clearer and there can be more certainty in the new assumptions, we will get an updated NPV. I would hope it is greater than £20m, but I don't see how it could possibly exceed £40m - it could end up being less than £20m but still above current MCap, I don't see how it could be less than that on an unrisked basis.

One trick ponies are always higher risk than those with more tricks. The priority has to be, and is, to get the one trick pony doing its best trick. There are other oportunities in Utah, in the US and indeed anywhere in the world. Who know what the world will be like next year? The strategy remains clear and the BoD have shown an uncanny ability to find opportunities that fit the strategy - they don't always work as mining is a risky business, but they will never fail due to a lack of commitment from the BoD.

The BoD has made clear its desire to pay a dividend (they will get quite a bit of their own money back that way). The company is structured so it can pay a dividend (ie historic losses are not an impediment). All it needs is sufficient positive cashflow at PLC level to actually pay it. How much it will be and when we might see it are not worth speculating about at this stage. There are AIM microcaps that talk about paying dividends, but there are very few that actually ever do.

Posted at 20/7/2022 07:28 by rec0very stock
Apparently the share price is all that matters and that is all we should look at by taking off our rose tinted glasses and putting on ones that just enable us to see the share price.

We should not look at MCap (£4.6m) which won't change much next week and definately not compare it to what the company's true value might be. We must not consider that the company raised nearly £2m a few months ago at a premium (12p post consolidation) and has plenty of money to finish off a project which has an NPV of £20m. We also should not consider that the mitigation of the remaining risk to that NPV (marketing the product) is greatly assisted by strong macro tail winds and we should also completely forget that Togo, although massively frustrating, could either become another near term cash generative project (if the corrupt president gives us the licence he has been promising for years) or could be sold to provide a nice little lump sum to start another little project in the US (assuming GS can get a visa to go there!).

No! Focus on the share price today, which will go up 100 fold next week, and that an investor presentation keeps being postponed, that is what matters after all.

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