Member Info for Markyess

Many moons ago, when the Ministerial Decree was presented for Nayega, there was some initial mention of a share consolidation - the logic of the time being, that as we start generating revenues and profits, the issued share capital and fraction of a pence share price would be prohibitive to institutional investors.

I know there is often some fears of a share price walk back after a consolidation, but I wonder if, at the moment, having 7bn shares floating around, whilst at a frankly paltry MCAP, that it'd be in our best interests to reduce our base of shares on issue?

Share price movements on even small trading volumes tend to be disproportionate to multi billions of shares on issue, also, with a new significant investor in town (who likely has eyes on growing their stake) allied with our pathetic market capitalisation, I struggle to see that we'd experience any significant price decline after executing a consolidation.

Would it actually be a good time to move away from 7bn shares on issue to 700m - or even 350m? With a 10/1 or even 20/1 consolidation exercise?

Interested in the thoughts of others.

The fact that Graham Stacey was brought in with initial focus on Nayega is something that had actually slipped my mind, and at least gives a small anchor point of comfort that Togo is not an entirely dead opportunity.

The complete absence of even a mention of Togo or manganese in the RNS still outweighs that miniscule point of note, though.

The absence of any mention of Togo and the very deliberate recalibration of the board to the US markets *feels* like the a death knell for the Manganese project.

I'm not too happy at that suggestion, nor the dilution, frankly.

The Council of Ministers met yesterday, presided by the esteemed President Gnassingbe, so I'm sure we've had our exploitation license signed off today, right? No...? Oh.... So what was the actual point of the Ministerial Decree in October *checks notes* 2019?!!!

What's the MCAP or respective issued share capital, Jim? Share price alone is a meaningless comparison without either.

Thanks for the investigation!

No news. Just a bit of sensible tax management by Mr Lamming.

I'll bet you a pint that there'll be a few nefarious characters that will latch on to the disposal of 46m, and neglect to mention the 2 tranches of rebuys by him and his wife. Probably over on ADVFN where the gob****es are loudest.

Great. This is what I was trying to get to - whether there is a fair case to compare with HMI, or if it is a false equivalence.

That it only sits at an MCAP of £30m would already negate some of the noise that was pitching us at a 1p MCAP based on Diamond Creek alone, as that'd peg us at a £60m MCAP - Double HMI's.

We owe it to ourselves to keep the comparisons and projections fair and relevant.

So HMI has an MCAP of around £30m - I've not had much chance to look into their fundamentals, but it sounds like you're all over it coffeecups - where would Diamond Creek stand against HMI's £30m MCAP? We're currently a £6m MCAP - and I would be bold enough to state that has absolutely no value attribution to Nayega Manganese as it stands.

I dunno PC, I'm a little more pessimistic and cynical these days.

I can afford to leave them in the bottom drawer for at least a 100% rise from current levels...!

GLA holders.

Penstock, we received Ministerial decree on the permit in October 2019. We're now waiting for Faure Gnassingbe to give presidential approval, creating jobs, fiscal returns and international business profile for his people.

What's holding him up?!

The timing of this announcement would have been a perfect platform to announce a capital raise if there was going to be one... it details a bank of work that will incur cost.

Is it growing safer to suggest the funding shortfall is to be successfully managed through 'other means', maybe?

That's a fair an interesting point, CC - there hasn't been an abundance of granted licenses and permits since establishment of their new mining code.

Togo Invest was supposed to help grease the cogs - and I was under the impression that the appointment of Gozan and the establishment of the Nayega Foundation were key requirements for Togo Invest support?

E_P Gnassingbe is a good old fashioned dictator, you can ignore terms of office, when that 5 years is up, he will win the next 'election' and then there'll be delays as he assembles his new cabinet for the next term. He's going nowhere.

There was an RNS in February '21 and an update in the June '21 Interims.

The Nayega Foundation was set up as an ESG commitment, with its first project funded (as a show of good will) and then Blaise Gozan was appointed as Togo Country Manager (a Togolese national) to help move the permitting forward.

We haven't received formal news, but Blaise Gozan terminated his connection to Keras on his LInkedIn profile dated February this year.

I try to stay positive, but I am not confident that 'no news is good news' so far as it comes to Togo. The project is literally good to go at the press of a button, using entirely local resources, and with an ESG commitment - so why is the permit not granted yet?

Ulterior motives from Faure Gnassingbe perhaps?

Have you checked if it is on the Aquis Exchange? More chance it is on there than any kind of shenanigans.

I think your assessment on Diamond Creek is broadly fair, pending us meeting sales targets and avoiding any further dilution.

You *may* be a little over optimistic on the valuation beyond Togo. I guess beyond Phase 2 production levels, proving up of additional mine life at the Ogaro site, and progression into the self managed refinery per the scoping study - and we could hit those levels. One step at a time for now, though, getting an exploitation permit and hitting Phase 1 extraction levels feels like a challenge at present! :)

I'm not sure what the question is - but if it is 'why has there not been an RNS?' then I totally agree!

I would suggest that someone would only end their association on LinkedIn if their association has ended? I have multiple concurrent roles on mine - you have to deliberately apply an end date - simply starting a new role does not end a prior one.

Chesh

His LinkedIn profile has a definitive end date against his Keras role.

Not really. It's more of a B2B operation than a B2C op.

The money is going to come from the large agri-businesses, who, with all due respect, aren't going to be hawking on YouTube or Audible for their prospective fertiliser suppliers...

There is no US ticker. Falcon Isle was unlisted.