Share Name Share Symbol Market Type Share ISIN Share Description
Keras Resources Plc LSE:KRS London Ordinary Share GB00B649J414 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.0925 1,654,186 07:48:25
Bid Price Offer Price High Price Low Price Open Price
0.09 0.095 0.0925 0.0925 0.0925
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.24 -0.04 6
Last Trade Time Trade Type Trade Size Trade Price Currency
14:21:08 O 219,785 0.091 GBX

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Date Time Title Posts
22/7/202123:15KRS Finally Coming of Age2,089
07/10/202014:53Keras Resources (ex Ferrex) - mining gold and manganese in 20161,726
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 Daily Update: Keras Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker KRS. The last closing price for Keras Resources was 0.09p.
Keras Resources Plc has a 4 week average price of 0.09p and a 12 week average price of 0.09p.
The 1 year high share price is 0.17p while the 1 year low share price is currently 0.09p.
There are currently 5,966,077,851 shares in issue and the average daily traded volume is 14,651,322 shares. The market capitalisation of Keras Resources Plc is £5,518,622.01.
rec0very stock: I set up this thread and I could ban posters and moderate posts as happens on other threads. I won't do that as all are entitled to express their opinion. I have always tried to provide a balanced and informed view and I attend GMs whenever I can - it is a shame the last few have been closed due to COVID. The title of the thread says it all. I have amended the header following demerger as it used to be Togo and CAI as the dual value. CAI has delivered in spades. Togo is massively frustrating for everyone, but I know the BoD is doing everything it sensibly and legally can - as significant shareholders who have put far more of their own cash in than they have ever taken cash out, they are massively incentivised to do so. Those who actually read and understood the Diamond Creek material, both from the company and Shard should realise what a master stroke it was. Without it, post demerger, there would only have been Togo and those frustrations would have sent the share price so low KRS would not have been able to raise even the limited cash needed whilst "waiting for Godot". Dilution is par for the course in pre-revenue companies. Over the years the BoD has tried everything humanly possible to get cash into the company, other than through share printing. They came so close with Gabon; the tribute mining would have worked at today's POG but not back then. CAI was exactly the right move - the ASX listing especially, as there was no way KRS's AIM listing would have got that off the ground (note there is a thread criticising that at the time) and then the demerger before CAI needed to raise the serious cash all spot on decisions. If anyone still wants to moan about the BoD remuneration, they should trawl back over the last 10 years and see how often the remuneration was just accrued, ie not paid, and then later converted into shares. Then look at every fund raise and see how much the BoD put in, including $700k to secure DC and get it to an investible state. Anyone who can then find a single AIM BoD that has made a larger net investment (own cash in minus actual cash out) is then entitled to slag of the BoD, if you can't be bothered to do that then your opinions on the matter can be expressed but are worthless and should be treated as such. Those who can't understand what I have written in support of the company, noting that at times I have been accused on my own thread of being a deramper for being realistic, really should not be investing in any AIM company and probably should not be doing anything other than putting their money in a bank / building society account.
rec0very stock: We are still in year 1 of the Shard note DCF, which assumed no saleable product and no sales. We have saleable product and have made sales. Shard assumes only 85% of ROM makes it to saleable product - probably a reasonable but conservative assumption. The year 2 DCF assumption for project revenue is $3.3m and by 3 months into that year $1.3m should already be in the bag (according to the interims we have just had) but I would expect the main sales to come in the 6 months after that as farmers are fertilising their fields to grow crops. I see no real difficulties in continuing to meet or better the assumptions in the Shard DCF which gives KRS share of DC an NPV of £10m. Not all that hard to understand really if you think about it rather than just wanting to find things to moan about. KRS has cash to last until Mar 22. Given DC is ahead of the curve assumed in the Shard note, project FCF will start flowing back to KRS initially in the form of preferential debt repayments (70%) so the year 2 project FCF of $1m is $700k to KRS which comfortably covers KRS running costs to Sept 22 and beyond. As it builds with increasing sales, all costs are covered and dividends can be paid - not huge but enough. So by using their own cash to secure the project they have brought in for $2.5m of debt a project with an NPV of £10m that secures KRS future and pays a small dividend potentially for 60 years. Not bad. But clearly not enough. We all want Togo and we are all frustrated we have not got it already. When it does kick in the cash flow back to KRS can virtually all be turned into dividends. In the meantime it would be good to get a few more small near term cash generative projects on the go and then just maybe the share price predictions some are making might be reached, but it won't happen overnight. I am very happy with my substantial holding in KRS, I would look to add to it once the Togo licence was in the bag, but not before (the market has massively underestimated the potential value here so whilst I would be paying more than current SP, it will still be far less than it is worth). I am very very happy with my substantial holding in CAI and am looking to add to it over the next 6 months on any share price weakness. Neither of those holdings would have been possible without the commitment in time, effort and cash invested by the BoD over the years.
rec0very stock: Indeed. But is it a wilful lack of understanding? DC is ahead of every assumption in the Shard note of Sept 20 which gave an NPV of £10m to KRS based on zero saleable product, zero revenue in year 1 and a sales price for year 2 of $260. The interims show sales in year 1 of 2.5k tonnes at $267 with inventories of saleable product of £270k (KRS share £135k) remaining plus previously mined ROM to go to the new plant where it can be processed much more cheaply. With total sales of around 5KT by end Dec 21, some of the debt to KRS should be able to be repaid and KRS has cash to last until Mar 22. But we have seen in the past how well KRS can conserve cash, so the dire predictions of massive further dilution are about as accurate as the prediction that KRS would have gone to the wall by Apr 21 without the Togo licence. We can see now how wise RL was to cash up with double tap placings at the start of the year, but those who really don't understand how things work in the real world just want to slag him off.
rec0very stock: jimbl "I'm perfectly well aware of what the report says. It's based on the existing installed capacity, not including a proposed Stage 1 expansion." The Shard report NPV - the most recent broker report, did include the phase 1 expansion, both the capital cost (expected to be funded through a combination of debt and offtake) and the positive effect it would have on cashflow. It did not include phase 2 (55% of the resource and where the battery potential kicks in) it also did a DCF on the equity portion of KRS interest in Togo rather than the full cashflow to KRS, ie it did not add back the 7.5% of revenue that comes to KRS as a management and marketing fee. I don't know whether you just don't understand the business at all - the suggestion you made before that KRS should take the Togo gov to arbitration indicates you really don't have a clue, or whether you are being deliberately misleading for some sort of twisted agenda. Either way: jimbl19 Jan '21 - 12:29 - 1621 of 1902 0 0 0 @zhockey - with no immediate revenue of any substantial value, the last thing this company needs is to take on any even more projects which can and will only lead to further dilution and raises. At 1/10th of a penny and over 6 billion shares now in issue, this is on its last legs. Unless Togo license comes through in the next couple of months, i think this company will go to the wall. When accounts ending 2 months later showed net current assets higher than they have been in years. Tells us clearly that your posts have no merit.
rec0very stock: Easy! It is because Diamond Creek alone has an NPV of £10m and the DCF that is based on never expected any revenue to come to KRS in this period. jimbl likes to talk about broker valuations, but neglects to mention that the broker valuation of Togo only included phase 1 ie about 45% of current resource. If you do an NPV including reasonable assumptions of phase 2, the NPV is around £22m. Yes we need a licence for Togo to be worth anything at all. So what a masterstroke by DR and RL using their own cash to secure a £10m NPV project while we wait for the corrupt and useless president of Togo to actually give a damn about his people and sign a licence that provides employment, 10% free carry to the treasury and the charity stuff. Meanwhile CAI remains on track for first gold in under 12 months, so in 12 months CAI share price will be around $1 maybe more when Blue Spec DFS comes in boosting annual production for minimal CAPEX. Obviously that is only relevant to those like me who bought the majority of their KRS holding prior to demerger, when you could pick up KRS for less than the see through value of CAI, which itself was much lower than it is now. I can understand why those who missed out on that are feeling bitter now, but they only have themselves to blame.
rec0very stock: Some people will sink to any depth to slag off this company. There was a one off payment of £120k to compensate for the SARS cancellation (all in notes 11 and 23 of the annual report if anyone bothers to read it) even with this the BoD overall are one of the lowest remunerated on AIM. Then look at how much of their own cash they have all put in over the years, including using their own cash to secure Diamond Creek whilst the bulk sample was done. There was a long period ahead of demerger when you could buy KRS cheaper than its CAI holding ie you got KRS for free and a bit of CAI for free. CAI itself was far lower than it is now. I took advantage of the situation which is why overall I am in profit despite buying my first stake in FRX at over 2p. Now the plant is up an running in Utah margins improve significantly and there is a decent range of products to sell. All being well the first debt repayments should arrive back in KRS in Q4 by my estimates. No doubt by then the doom mongers will find something else to moan about. Someone thinks it is a donkey, but is seems to have a few kicks so maybe it is a mule. Kicked out CAI to us - very nice. Diamond Creek kicking out positive cashflow soon. All we need is the useless Togo president to grant the licence and very soon even more cash will be kicked out of Togo and into KRS, who will then kick it out to us as dividends. The BoD get a decent pay back out of that too as they are all major shareholders from what they have put in over the years. With all my KRS and CAI holding in ISAs it will all be tax free for me.
searcher0: I don't buy that, it was never a case of Diamond Creek or liquidation. The company had been listed for 10yrs prior to that without a revenue generating product so it wasn't going to vanish suddenly. A project in a more mainstream commodity slightly further out from production would have lifted the share price multiples as almost every other small cap mining company on aim has responded to the metals rally, look at wsbn gone from 1p to 20p. Liquidity would have been better and subsequent placings when required at higher intervals. Diamond Creek has done neither though it hasn't stemmed future placings, the chicken feed revenues mean placings will still be required to keep the lights on and whats worse it has provided no kicker to the share price. Your at 6bn shares regardless and already diluting yourself out of existence having raised not once but twice at all time lows and given cheap warrants away everytime to entice placees, if the project was so good the warrants wouldn't have been needed, atleast not the second time when DC was in situ. Also the PR from Russell has been appalling the guy is not ceo material. Atleast Dave tries to communicate and promote Calidus. No such time for Keras though.
rec0very stock: Oh my word we have a right pair now. Arbitration of what exactly? Are you suggesting KRS bring a case against the president for being slow? If the licence were to be refused having had a ministerial decree and then done a load more work (the fact KRS made a small profit on the bulk sample probably would reduce the compensation it could get) then certainly a compensation claim should be looked into. I don't recall anyone saying Diamond Creek makes KRS self sufficient now. I would expect that some cash will start flowing in Q4. KRS raised a lot of money earlier in the year. We have yet to see what they are going to do with it - the hope is it will be another project, but KRS don't need any money to keep the lights on for a good while yet
fillipe: Hi everyone and many thanks to all for your comments on the KRS/Calidus affair/s. I had thought my shares had been sold, but now see they are still sitting in my a/c ... sorry for that stupid error, but I had misunderstood the bookkeeping there. I'm given to understand that the share trading market in Calidus is very small and this is what is restricting the emptying of the tubeful of stock here in the UK which is therefore only steadily being sold off. I see from today's KRS rns there is a mention of the Calidus disposal history and also some details of the current Calidus price, or is that latter just a restating of the CAI share price at the time of the disposal/consolidation? Might someone have the near CAI share price in approx today's UK pence? ....just so I can check my own conversion outcome. Thanks again for you kind assistance, all very much appreciated. f
tomboyb: From LSE: Diamond Creek Organic Phosphate mine at Utah, USA Company now owns 51% after making recent final payment of approx. $300,000. The total payment of $2.5m for 51% ownership by KRS to falcon Isle (who was the sole owner) is a loan and will be paid back to KRS on tranches. Falcon Isle will soon receive shipment of machinery plant and commissioning is schedule to complete in Q1. Once completed, I believe ramping in production will be done swiftly. However, sales of organic phosphate expected to commence in January 2021. Manganese in Nayega, Togo KRS has come through so much in here that I think the directors should not stop for pressing Togo government to make their final decision on permit to exploitation license. Finding out If there is any shortcoming from KRS causing delay should be done and addressed quickly. If the delay is from Togo government, then, I believe directors should be well informed on the progress and KRS to shareholder. But the good things is CEO remain positive about the award of the exploitation permit and believe that significant progress towards a permit has been made, specifically over the last three months. Manganese will be replacing cobalt for increasing power on batteries and the future looks really good with increasing demand and price rising. When the license is awarded, we all know what will be the share price of KRS whilst both organic phosphate and manganese, highly soughted resources comes on the market generating revenues for KRS.
Keras Resources share price data is direct from the London Stock Exchange
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