Member Info for Markyess

Sophisticated and Institutional Investors aren't likely to get too excited by a fraction of a penny share, with a sub £10m MCAP.

I appreciate the excitement with the big blue days, but let's keep grounded.

In the 'Share Price Search' box in the top left, put KRS, select the second option 'KRS.GB.PL' - that is all trades that were on the Aquis exchange.

Your transaction is 99% more likely to appear there, than any of this 'MM game' nonsense. We're too small and insignificant for MM's to give a f**k or make a bean out of.

Yep, your trade is on the Aquis exchange at 10:37 - shown as a sell.

Probably transacted on Aquis if you can't see it on here.

Shard Capital had priced 51% of DC and Phase 1 Nayega at 0.38p if that helps.

I thought that Nayega had the slight edge in terms of contribution (even at Phase 1), but I could be wrong.

Either way, a share price contribution of 0.3p from 100% owned DC, plus a market assessment on the potential of Nayega at this juncture would be both reasonable and nice to see!

Nayega Manganese is literally ready to go, only pending exploitation permit, and then 'pressing the button' using a turnkey operator, so no retention costs. The concern is whether Faure Gnassingbe wants to give us the permit, or bleed us out so he can give it elsewhere.

Diamond Creek helping us 'keep the lights on' can only be a good thing in terms of demonstrating security to obtain the Nayega permit.

Diamond Creek is a decent, small project with growth potential.

Nayega is a game changer.

DYOR

'they have skin in the game and have got friends and family involved at 0.12p.'

They have skin in the game, and their friends and family are involved A LOT higher than 0.12. Some initially entered as high as 4.00p! The BoD are driven and determined to return value to their friends who put faith in them and are presently DEEP underwater.

Indeed, Prop.

We'll benefit from some better than decent growth out of Diamond Creek, but trying to draw direct comparison with HMI, when the fundamentals are so markedly different is misleading at best.

Not least given out 5 year plan to reach 48k tonnes, and a projected, to be proven, mine life of 60 years.

Still very positive, and plenty of growth on the table to take. Over time.

Doesn't matter what the casing is, if people are prepared to pay for the muck that passes through it.

It's not like the fertiliser extraction and processing operations in Africa are housed in marble palaces! ;-)

Potash and Phosphates are already quite a big export from Togo, aren't they?

I like the thinking though - I'm hoping that the more stable the Diamond Creek operation becomes, the less resistance Gnassingbe will have on giving us the damned license as it just reinforces that we're not going away any time soon!

Yes - 1p is categorically too high for DC only based on the fundamentals of the project, annual production tonnage and margins AND 6bn shares on issue.

Short term price target of 0.3p/share - £20m MCAP on Diamond Creek alone is reasonable, with Nayega fully discounted. Growth potential as sales and production targets rise, and the drill bit proves up the LOM with formal, signed off assays.

As a benchmark, Shard Capital had us pegged at 0.38p for Diamond Creek (@51%) *and* Nayega Phase 1

I think 1p on Diamond Creek alone is beyond optimistic. A short/medium term MCAP of around £20m is perhaps fair.

The game changer is the Nayega Manganese project.

Yes, broadly - including the potential for off take agreements, reading between the lines of the RNS.

The BoD have a lot of skin in the game. The perceived shortfall for the first payment is, in real terms, small beer. I cannot see the BoD wishing to dilute (given the current low share price and MCAP) when there are other potential financial instruments available that would not dilute their own position.

I think/believe/hope that those expecting a pull back for a capital raise may be sorely mistaken.

If the market values the fundamentals - and trading volume today suggests there's plenty of appetite - then there's only so much manipulation that the MMs can do?

If you reflect on the Market Cap (even as at now) and the two projects in hand - one of which, now substantially risk mitigated AND also worth twice as much to the company as it was - why would it retrace back to value the company around £2.5m?

I'm not sure there's that much of a dilemma, is there?

The market had previously seen fair value when we only owned 51% of Diamond Creek at around 0.13p.

The recent slump was primarily as we were seen to be in duress, facing a potential lengthy legal challenge in the US. Now that we own 100% of the project - who knows.

I know that the delay of the license issue in Togo is another obstacle to clear, but a Market Cap of £7m for 100% ownership of an in production phosphate mine, and 80% of a high grade, strip mining Manganese operation pending an exploitation permit still feels very much on the low side?

Ha. I wish uNKwnTrader - still a long, long way from break even (in its own right) for me!

Gladly some of us LTHs are doing very, very well from the Calidus spin out, though!

Agreed Stockraiser. It was arguably priced below duress value of the project assets in hand.

Still a way to go here, but hopefully now we're in full control of DC, we'll see good, positive newsflow, and maybe, just maybe, as we demonstrate our security in the US, it might pressure a bit of action in Togo too.

I still can't help feel that Gnassingbe has been holding on in hope we fold, so he can do what he wishes with Nayega.

Well that was a pleasant and unexpected start to the day! I thought and hoped that part of the resolution at DC would involve the acquisition of a larger slice of the pie, but not full control, with payment staggered over a number of years.

Frankly, I'd be surprised if the BoD use any significant dilutory measures given their own holdings and current share pricing.

To clarify the point - share consolidation is not worthwhile at current values.

DYOR on the investment risk and whether you think THAT is worthwhile.