Member Info for Markyess

I had such a realistic dream last night that this pup found itself pumped to over 1p based on no substantive news. Wouldn't that be nice?

Totally agree with Jim. Based on gold only, around and after first pour, a price target of around $1.20 (MCAP of around $400-475m). Quick prove up of LOM, additional ounces from Blue Spec, Regional targets and Klondyke shear length and depth could see that follow Capricorn's trend. Most broker forecasts and projections are based only on the conservative resource reserve values in the Bankable Feasibility Study, we already have a significant bank of resources at inferred and indicated to prove up, before turning a drill in the other targets. I'm sure they'll be keen to prove up Dave's assertion of 'decades of mine life' in relatively short order and reduce the risk of being 'dinner' at bargain basement prices.

Lithium will be pure upside - provided there is accessible and exploitable resource, in enough volume to do something with!

'Surely it's about monetising the assets for the benefit of all shareholders rather than looking after their own and family/friends interests'

100% - the family and friends are shareholders just like the rest of us. It's probably an added incentive though, when you have uncomfortable family barbecues as you've squandered Auntie Barbara's pension fund....

I would expect the options would be aligned with most takeover scenarios - either a cash offer for shares or an offer of stock in the acquiring company.

Blimey Jim, Capital Gains? For Keras holders? Would there be anyone that would have to worry about that?! That has given me a good chuckle.

I appreciate that with the different listings, it would introduce some challenges - but not insurmountable, and still preferable to us all sitting here with dust and coal and some other entity picking up our potential projects.

Yep, agreed - it doesn't bode well for us in this current corporate shell in a market that has no patience and no faith in the brand, has little foundation to raise the money to maintain its existence - BUT it could survive longer on care and maintenance inside the envelope of a larger company, with more immediate profitability, a degree of common ownership and that would benefit from a diversified project base.

(To clarify, this is becoming more what I'd like to see, rather than what I genuinely think will happen - although I think there's more chance that this option would be explored than simply allowing this company to fold and give up the existing projects).

He's been a little quiet recently hasn't he? At least we can both say we tried to warn him.

There's one other, slightly less tangible reason that I genuinely believe that Lamming (and Reeves) will work bloody hard to try and ensure a return for Keras holders. If you are fortunate enough to attend any investor events and spend any time at all talking to either Lamming or Reeves, Keras was/is in essence a project of trust with a lot of their family and friends (and their money). If it was solely the directors own money at stake*, I would find it a lot easier to agree with you wholeheartedly. Obviously, if I agreed with you wholeheartedly, the idea of us all sticking around talking about it becomes utterly pointless as we should all just cut and run - x% of something is always better than 100% of nothing! :-)

There is a matter of faith with their nearest and dearest (over and above the Calidus project) that Lamming and Reeves are committed to. Dave actually suggested to me at one such event that there are some family members he'd never be able to look at in the eye again if Keras failed (as he glanced sideways at this lovely brunette lady staring daggers at him).

Time will tell, I'm sure. Idle speculation hurts no one. I still believe in one guise or another, we will all see some value from our investment here - but how far into the future, and whether it's within the formal vehicle that is currently Keras, plc remains to be seen.

* your calcs don't include the near £1m that Lamming and Reeves loaned to kick off Diamond Creek - or was that outside the timeline? Even so, it was recently enouugh, I don't think either of them would be keen to write that off in such short order?

I agree, they will be 'fine' but when you look at the size (and recency) of some of Reeves, Lamming and Moritz deposits into this particular vehicle, there's not a chance in hell they're going to sit back and wash their hands of it. There's too much innate and potential value to cut and run, without exploring ALL possible avenues to ensure that if there's value to be had, it will head in their direction.

Chesh, the narrative at the time was accurate - the value of options he gave up in order to commit those funds into Keras was very sizable.

He still got his 3 for 1 on his Keras holding, though. Fair to say, he'll be out of pocket today on those funds that he could have channeled into the Calidus options!

He certainly gave up *some* options, Chesh - he would still have received a chunky entitlement of Calidus shares for his original Keras holding.

The project economics (especially for Nayega) remain completely unchanged, and at an acquisition cost of ~AU$6m, it's peanuts for acquiring the diversification and potential that we're struggling to realise - that a Au$300m+ gold producer could both wait longer and fight harder for - OR afford to sit on whilst pursuing the gold and lithium projects, and maybe have Togo sweat a little.

Shareholders weren't consulted on the lithium play....

The longer this company continues, as is, on the AIM, the longer I see the only outcome as liquidation as we're neither valued nor positioned for raising equity. I'd like to think that no one on here actually would prefer that outcome to any alternative?

There is a huge amount of value to both Diamond Creek and Nayega for a player that can afford to wait long enough, or fight hard enough.

It's all conjecture and speculation, anyway (and maybe a little dose of wishful thinking too...)

It wouldn't surprise me, Chesh... maybe the other side of Calidus' first gold pour.

I just can't shake the feeling that the vehicle 'Keras Resources' has spent out on faith and goodwill on the AIM.

Yes, apologies. 'Dispute between the owners' would have been more precise.

A few bits to fix before a re-rate. Resolve the ownership dispute in Utah, actually build a sales pipeline worthy of our efforts, and prove up a guaranteed timeline to exploitation in Togo and then we can all go and buy some Norfolk White Sparkling Style Alcoholic Drinking Grape flavoured drink*

Some distance to travel. Pop these in the bottom drawer.

* Post Brexit sparkly.

The guy on ADVFN said he was aspiring to owning 100m shares by the end of the year, which at that point would still be around half the percentage required to formally declare interest.

Interesting timing for someone to put such a significant sum 'at risk'. Maybe they know something we don't, maybe they love a gamble?

Not sure how much it helps as it relates to research permits

If you had to give up half of your exploitation territory every year, no one would ever want a permit in country.

There's a guy on ADVFN stating he'd had a 9m order filled. Maybe it was a delayed buy?

There are one or two whose entire tone is geared up solely for confrontation on that BB, not meaningful debate, too. This site is (generally) a far better place for reasoned and rational discussion on the topic in hand.

On top of the bulk sample approval, we're also now over two years since the Council of Ministers promulgated a decree providing us with mass exploitation permission. This was supposed to lead to all documentation being completed and signed off to allow us to commence mining in Q1 of 2020.

*blinks slowly and deliberately*

JimBL had suggested the self same notion, that maybe the capital raises had half an eye on our partners proving unable to fulfill their end of the bargain.

It could turn out to be a very shrewd decision.

Given the NPV (to KRS) of the Diamond Creek project was ~£10m for a loan of £2.5m, acquiring the whole company (or at least a significantly larger chunk) and the ability to leverage the future value of the asset for only £600k more could turn out to be very fortuitous - provided we can turn the business around (in a global environment where fertiliser is in short supply).

At current share prices, there is literally nothing to lose, so damned if I'm going to ruin my own life any further by thinking any more negatively about it.

It's valued beyond write off value for me, so if it materialises in a positive fashion, great! If it doesn't, frankly I'm beyond giving a f**k.