Member Info for Markyess

It could be, as with Otway in Australia (CAI), that we need to demonstrate exploratory investment to keep the tenement.

Not least - it has the potential to be a deposit of an significant worth to Keras - if we could increase our annual yield, or just extend the life of mine, it'll be worth it for all of us.

As far as I'm aware - the mineral is so accessible in the Nayega/Ogaro region, it is not exactly an expensive exercise to dig the pits for assay.

That premise assumes that all mining / exploitation licenses are equal. They are not. Due to a plethora of factors, including environmental impact, labour market/health and safety matters and economic. The whole reason we did a bulk sample last year is also relevant to understand why there was never going to be a permit issued in 2014 or 2015. We're in new territory, in a developing country, receiving international economic support. You can't kick the Keras management for being hit for six by unknown unknowns!

The article shared by SBK is critical.

The problem has always been that we are dealing with a country inside the 15 least developed economies in the world. There is always a danger of bureaucratic change. Ironically, the involvement of the World Bank in Togo is a double edged sword. For as much as their involvement offers some protection against the corruption incumbent with developing nations, they also introduce new checks and balances that the government needs to adapt to, and then us in turn..

We've just got to remain patient. We can't set expectations as if we're dealing with a first (or even second) world country.

I'd still rather our license situation than the arse up Beowulf Mining (BEM) have faced in Sweden for the last decade. At least we're dealing with a Third World country.

The government was due to change for months, the fact it changed whilst our team we're out there was just deeply unfortunate. That timing could not have been known or accounted for by our team.

'Meeting the government' is more than just meeting the Ministers/decision makers, there would have been eminent value in meeting the top civil servants - who in fact, provide the continuity.

Hopefully by November, the government is settled, the new Mining Minister has her arms around her portfolio, and we won't be waiting much longer for our green light

Handling a few shiny panels and transformers is a slightly different proposition to managing and running heavy plant, crushing and chemical leaching....

I think it's misleading to cite the timeline over 6 years. We didn't have a DFS until 2015, the BFS came later still.

Don't get me wrong, it has gone on too long - but again, I restate, we're not dealing with an agile first world country. We're dealing with one of the least developed countries in the world. We're in the strongest position we've ever been in, but we're still dealing with a country facing a huge amount of internal change - hence the investment from the World Bank.

We'll be the first Manganese exploitation project in Togo. The prior license awards have been for minerals that they have traded in for years (phosphates, clays, potash etc)

Absolutely PC, my investment in Keras has more than paid for itself with the Calidus divestment and (continuing) growth. I originally bought in at 4p in July 2011, too.

My Keras holding is now essentially 'free carry' - albeit, it would be nice to see some value attributed to it. It certainly feels that the value lost on the KRS ticker is disproportionate to the joint potential of Diamond Creek and Nayega. I retain utmost confidence that our time will come on this specific listing.

I don't think we'll see news this side of Christmas. I am still entirely convinced it will happen (World Bank involvement), but I think we are caught up in the challenges of doing business not only with an African country, but one of the poorest, most underdeveloped African countries.

They will know it is in their interest to award the permit, and they will (and are probably keen to!), but we will need to step through the necessary bureaucracy of their new government forming before it'll happen. At the end of the day, Keras (and Keras investors) are not the highest priority to them.

Keras cannot issue an RNS that paints a negative picture of Togo or the Togolese government, and frankly, it's pointless issuing an RNS saying nothing (given that the last RNS stated there will be news when there is news).

I hope to be proved wrong, I hope the female influence at PM and the Mining Ministry make me eat my words, however, I think it's just prudent to be realistic, without being overly negative.

In the scheme of things, a few more months kills no one. The timing of the cabinet reshuffle was desperately unfortunate, but unfortunately, I do think it pulled the rug from under our feet. As much as there would be value in the meetings with the Civil Servants that retains value, there needs to be a 'do over' with the new people in charge - but let's be real, we're not going to be their top priority.

I don't believe it will price in as fast as that. Probably 0.3 on issue and some upwards adjustment on interim or full results showing production profits.

Hopefully we've done enough to ward them off for a little while.

That I am aware, there is nothing public record about a meeting this week.

There is assumption that the Keras SMT have extended their visit into this week (despite an RNS that advised their visit would extend a week, which would have finished October 2nd)

Production will start immediately on permit issue. That's a given.

I don't expect our share price to fully correct until we report operational profits.

Baseless. No source.

Attempted pump and dump.

It might double on news. I highly doubt it'll triple until there is production news and profit reports.

We're being targeted for artificial ramps to engineer someone's premature exit.

Classic targeted pump and dump.

If there's substance, then they'll share their source. If it's a formal release from the Togo ministry - no reason not to - it doesn't mention any company names.

We're being heavily targeted by some known Twitter rampers.

Baseless ramping. If AimTerminator is involved, it's invariably without substance. He's just looking for a quick spike to cash out on.

We'll get news when we get it - we'll have a steady climb that won't peak until we announce profits in published results.

Just MHO

As much as we probably should hit that, with the sentiment on Keras, I don't believe we'll start to see true value until the first annual or interim results reveal production profits.

We'll get there, but if you're here for a short term bonanza, you *might* be disappointed.

I like the Crux interviews, they're a bit more insistent on answers than others.

Yet more proof though that Dave Reeves wouldn't go blabbing to some two bit Twitter ramper. He gives very little away.

Very true CC! I'd rather that numbers that I had posted for discussion (and included some inconsistencies) weren't routinely touted as gospel, though!

That was the most obvious and transparent ramp. I think most of us on this board have dealt with DR personally and know he wouldn't be indiscrete