Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Another typo Calidus is 0.04 AUD.
Oops typo in the above we own 458,375,000 Calidus shares.
Pinecone, I'm assuming you have downloaded the pdf of my spreadsheet, so I'll try to explain in terms of the current market cap of Calidus. Keras owns 485375 Calidus shares following the allocation of performance shares due to the resource increase. The share price (bid) for Calidus that I have used is 0.40 AUD so our Calidus shares could be sold for 18,335,000 AUD or �10,634,300 There are currently 2,261,800,105 Keras shares.� Thus each Keras share has 10,634,300/ 2,261,800,105 or �0.0047 of value from the Calidus shares alone. But Keras also has interest in battery metals in Togo.�� I value them at �3M or �0.0013 per share.� There is a note in the spreadsheet explaining why, but use your own value for Togo. Thus the total value is �0.0060. For the other figures, the calculation is the same, except the valuation of each Calidus share is based on the potential value of the resource. As tomat02 has kindly pointed out, these Calidus shares cannot be sold currently.� However the resource cannot be mined currently so I am not discounting the share value for that reason (any explorer/developer is priced on expectation).
Managed to get more later this afternoon for me and the wife. Unfortunately, I wanted 2x but they would only sell me x at this cheap price 0.3545p. Tried to get another x but they wanted .375p. Interestingly my wife's trade shows on money a m but my last one doesn't.
I topped up at lunch time because the price was ridiculous. It showed as a sell. One day it will be realised that we are getting 0.47p worth of Calidus shares by buying one Keras share at 0.3545p (my price today). I've decided to simply put these away for a couple of years, by which time a greater value will be realised. The the discount at the moment greatly derisks them for my pension. I suspect the wrapping of Calidus value in Keras shares is what people cannot get their heads around.
Keras Resources Price Valuation Estimate Summary Date 8 Jan 2018 Keras Share Price AIM (Bid, GBP) �0.0035 Based On Current CAI Market Cap. (MC) �0.0060 Based On Bell Potter (BP) CAI Valuation �0.0078 Based On BP with Actual Indicated Resource (BP+) �0.0071 Full working at: https://goo.gl/eQK7Zb
I'll certainly give him credit for dealing with investors CC. He must like you as it takes him a day or two to reply to me :-)
Thanks Tomat02. All praise to DR for starting to get the message out. Let's hope for more of the same PR as things develop.
OK I am sorry if I offended you or anyone else. I am a straight talker and it was not my intention to show off how much my holding is. That's what it is like it or not, and that's why I spent days researching it, not buying on a short term whim. I shared my research here and thanks to those who expressed appreciation. I like the resource. I would like to see it better valued. I'll just have to differ with those who feel it is all fine. Perhaps I am overly harsh on DR and the fault lies with my high expectation of his communication skills. I listened to the Thor CEO and he said a CEO should spend a third of his time on investor relations. Perhaps that is not how DR sees it. I did not get into this share for the short term. It forms a significant part of my pension and I have recently retired but I cannot afford to let this scale of money languish. No I do not intend to be short term but I do intend to regularly review my pension holdings and January is the review point. So Chesh I would appreciate a dropping of the snide personal remarks when I post. I'm not rich but have spent a lifetime putting a little money together to ease my wife's and my retirement. I did not insult you so why are you so offensive when I mistakenly, not boastfully, tried to demonstrate my commitment to this share. Perhaps you think I am boasting but surely my corresponding with DR and my using my ex professional experience to share a valuation model demonstrates my good intentions.
Sorry Chesh but was that meant as an insult because I don't get the last bit.
CC I read it, but I make my own mind up, no disrespect intended to anyone. I also do not fall in love with a share or management. Some miss the point of opportunity cost. I could stay for two years and I have estimated what I will get. But in those two years I could invest elsewhere and get more or have less risk. Other people may have different priorities so what works for other posters may not work for me.
Chesh I have 12M. If I decide to sell, will you want them al?l ;-)
Frankly, I am disappointed in the share price and DR's lack of public support. So DR wants to keep long term investors? I could be one, but only, dear David, if you counter the effect of AIM and start explaining why Calidus and KRS deserve a better price than we have. DR should get out there with some exposure and interviews to encourage us to stay invested and attract new long term investors. He should clear the confusion over in-specie distribution that may be putting potential investors off. Better still he should replace it with a simple cash distribution. There are those with a mindset that could not care less about objective valuation estimates such as the professional analyst reports. Those types drive AIM, sadly. DR needs to speak to them too. For those who do appreciate an objective viewpoint, here is a link to my updated spreadsheet, with the new shareholdings and Calidus value per Keras share. https://goo.gl/s5BVjz Even with news, I suspect the share price will stagnate without DR's support. I could hold and wait, but it is all about opportunity cost. I don't want to sit on a loss when I could be reinvesting what's left and make a profit elsewhere (I recommend Kirkland Lake Gold, who have fantastic mines and also own a large chunk of Novo. They are a much safer share and you can buy them through HL.). I'll see what January brings before deciding whether to get out of KRS.
Cheers, it is good to see Calidus improving their profile. All we need is to get a wider audience for the background material.
Link sharing was not set so I have updated the permissions.
https://goo.gl/TsCm6Q Fixed typos
I hope this link works. https://goo.gl/YjdR4R I'd appreciate feedback on the model. If you don't find any mistakes then feel free to share it outside LSE.
When Calidus was 4c per share, it was the figure that gave us a share price of .35p. In other words, assumjng that was what ASX valued Calidus at, and AIM valued Keras at, it was the figure that fitted. Sorry about the formatting: Calidus Pricing Calidus Share Price (Bid, AUD) 0.0400 Keras Pricing Based On Current CAI Market Cap. (MC) Time Shares Allocated to Keras Number of Calidus Shares Owned By Keras Percentage Of Calidus Outstanding Shares Value (CAI MC, AUD) Value (CAI MC, GBP) Keras Value (CAI MC, AUD) Keras Share Price (CAI MC, GBP) Pre Performance 217,250,000 21.1% 8,690,000 £4,953,300 £7,953,300 £0.0035 See the difference between £4.9M and £7.9M? That is what the market values the non-Calidus part of Keras.
Mr P, I get 31% and 41% based on 1,474,168,495 post Performance 1 and 1,749,168,495 post Performance 2 Calidus shares, and 458,500,000 and 723,875,000 Keras owned shares respectively. Of course I am adding in the performance shares since they are not yet in the market, but will be when the milestones are reached. I hava also deducted the shares Keras will be giving their advisers. Could you tell me how you get your figures? I ask in a spirit of accuracy. We won't attract buyers unless we can convince them we are singing from the same hymn sheet.
As soon as I get the resource upgrade figure, it will be whipped into the spreadsheet. As a taster, with the BP figures and a £3M non-Calidus value, we are looking at 0.98p per Keras share value. With BP figures but a resource of 1M ounces and a £3M non-Calidus value we are looking at 1.17p per Keras share. I wonder if publishing the model will help? I just get the feeling we need to convince a wider audience.