Member Info for JimBL

Yes, a long time indeed. I think we hark back to around the same time in arriving, as well as Oily. I'm July of 2011 I think!

Me, I'm a bit past it all and don't think we are going to get it. My own opinion, and giving the similarity to the former AA/Kumba deal, is that the third party will take it off our hands. Easier for an existing licensed big player to get things done I would imagine.

We are making zero news or moves with the Togo Cobalt plots either so it's hardly like we are making headway in the alleged 'electric car battery' sector which was the newly declared direction. Perhaps as I've mused before, this is an exit strategy for KRS once the CAI distribution is fulfilled.

But what do I know.

Oh come on, Andee. I know you have been around here a long time also but have you forgotten words such as these from 2015?
"Ferrex Managing Director Mr. Dave Reeves said, "I am pleased that the Togolese people have exercised their democratic rights and I would like to congratulate President Gnassingbe and his Party on his re-election. This continuity in leadership is a positive for the Company, as the Government has been very supportive of our plans to develop the Nayega Manganese Project. We will continue to work closely with the Government of Togo to ensure the Nayega exploitation permit is granted as soon as possible so we can proceed with development of the project for the mutual benefit of the Togolese people and Ferrex shareholders. I look forward to providing updates on this and other matters as information comes to hand."

Had a 'good' relationship for years now, apparently, but we still have no license!

Good to see you on the radar. Hope you are well.

"...We obviously need to pay opex and capex out of this".

The information provided was that the third party was fully funding the bulk sample. So, what's he on about?

Haulage has already started and the peak will be 420t per day, or 2100t minimum (5 days) per week. The whole 10,000t sample will therefore be at Lome by no later than the end of next month.
Then what? We still don't have a license and there's no mention of one. Do we get paid for the sample, or is that part of the deal with the third party funding this?
More questions than answers still.

My money is on Alkane unloading and buying back a bigger stake, cheaper. Anyone with stops in place has been caught out and of course anyone with no bottle is looking to get out.

As I said over on HC, it's simply a ridiculous position to believe the asset is worth less (and sp lower) than it was before the resource was upgraded and we obtained additional gold bearing tenements.

Unfortunately, the IO price collapsed making the whole thing - and all our IO assets - unviable.

Yeah, I'm afraid my thinking is biased toward a TO/sale. This deal resembles the former AA/Kumba one for Mebaga so much.

We were granted the environmental permit in 2014! "The environmental permit sets the conditions for the operation of the mine and is major milestone with regards to the granting of the mining permit, which is expected by the end of the year. The permit is based on a comprehensive environmental impact assessment ('EIA') and community consultation."

I'm still trying to figure out why a third party has funded this exercise when we don't have a mining license. Is it a move to show financial viability/profitability to the Togo Gov (and finally award the license) or is the bigger player - with more influence and capacity - intending a TO?

'Course you did, Andee ;-)

Anyone else notice the appearance of this other listing when you search krs here on LSE? What's this all about?

Indeed, mate. Togo has been such a grind and quite a bust that I can't see it ever being granted a license under us. Hence, my speculation as to what the actual end game is for KRS these days.

I'm hanging on in here by my fingernails, purely due to the speculation over the in-species distribution. Probably my last year of being able to sit on similar losses to what you may have suffered.

Happy new year to you anyway.

From July - "The company has completed the tender process with local mining contractors and logistics companies..." Local labour is clearly involved therefore.

I suspect we don't need a license and won't - if the asset is sold to an existing licence holder (the West African manganese producer?). I've said from the initial 3rd party agreement announcement that this looks very similar to the former AA/Kumba Iron Ore deal at Mabega which the company (as FRX) had arranged. Sadly that fell through due to the IO price collapse, but a sale would have been the ultimate outcome.

Maybe KRS days are numbered. In-specie deal for our CAI shares followed by getting rid of Togo?

The only way Togo can become bigger than CAI resources/value, is for the license to be issued, and then a commitment to move quickly to the Stage 2 ferro manganese option. That's where the huge profit margins lie.

Begs the question why a 1.02 mil oz company has a sp of 36 cents, when CAI is still languishing at under 3 - and has a higher grade of gold. Seems a nailed on certainty that 1 mil oz (+) will be proved up yet I doubt the market is going to drive the sp up tenfold.

Page 2 says it's for a Capital Raise. Seems self explanatory - though we shall have to await what the funds are needed for. Would seem to me to be a purchase of another asset as we should be sufficiently funded for the work already identified and underway.

It's certainly profitable at the current prices. Throw in the Stage 2 plan for ferro manganese and it goes off the chart.

Makes me wonder why Calidus sp is still less than half of what EXU's was prior to this news. Same size resource (at current time) gold grade etc.