Member Info for Markyess

Nice to have you aboard, Potter - and as much as it's a very American thing to say, thank you for your service.

I would anticipate that Keras will be paying modest dividends from both Diamond Creek and Nayega *at the latest* financial year end 2022. I would anticipate that it would have positive cash flows by FYE2021 (September next year) but could envisage reinvestment of most of the early cashflow into next stage development for both initiatives.

This is a BOD that does not sit still. I envisage both Diamond Creek and Nayega adding solid value and dividend income for years to come (the LOM on both is impressive) but this is also the company that acquired and consolidated goldfield tenements, developed and spun out Calidus Limited on the ASX, putting significant value (and ongoing growth) into our pockets.

We can look forward to becoming a prosperous phosphate and manganese producer - but it's also worth sitting back and watching what surprises our board pieces together as they look to exploit complimentary markets (EV Battery market as an example).

ATB
Mark

You sum them up with your title. It will achieve nothing. It won't be detrimental either, so I wouldn't go worrying - it will just make the Twitter user look foolish.

What's the expression? Too many Twits make a ****.

The report is (rightly) built on very conservative numbers. The report does allude to the significant upside in both the life cycle phase it bases production on and the estimated price per DMTU.

Do remember, it won't just be a rise in equity price, but annual dividends will generate a substantial return too.

LOM at Diamond Creek and Nayega are significant. (Discounting further drilling or extensions such as Ogaro)

More fool them if that is the case. They must have money to burn (and deeply poor knowledge of how business works).

I doubt that's what it is. I don't think today has been a high sell day - many of those mid price 'sells' are actually buys.

Agreed. With the involvement and interest of the World Bank, and the desires of Togo to be seen as a player on the international mineral exploitation stage, shafting one of the first international organisations to get close to exploitation would not be a good look.

As tough as it is, I think we need to try and have some faith that most of the present legwork is likely to be in providing assurances about labour safety in a post Covid world - which would not have been an issue in November last year.

My Calidus holding is safe, but non tradeable with Halifax

I'm holding off transferring my ISA until development starts when Production will be as good as assured, and prices fairly stable for a period of time. January -ish.

Thanks for clarifying, 1dog. That makes more sense, but the timeline and comms from Barclays still sounds irresponsible and does not represent good financial management practice for what could be a critical amount of money for an individual - especially in current economic circumstances.

I still don't understand how the decision for selling (when and at what price) is one that Barclays can make independent of their customers' desires?

I'd be demanding my shares be transferred (as they are) and threatening as many courses of rebuke as possible if my nominee account was being handled like this.

You absolutely should have the right to transfer the share (certificate) into a different provider. It shouldn't be for them to decide to sell them.

Definitely worth getting some advice from the Ombudsman, on their enforced action, and their atrocious timeline management of YOUR money.

Ah, the amended pages have been updated and are ready to roll... ;-)

Taken down and doing 'Ctrl+H' - find and replace 'developer' with 'producer' before republishing.

How nice would that be?

Further - just because it's not yet been reported, doesn't mean the scoping study hasn't happened. I believe it was being managed by a third party, so it is almost certainly underway, or finished, dependent on Covid-19 obstruction. As I stated previously, it's worthless if we're not extracting.

Putting the foundations in (getting into production) is more important than building the roof (exploitation through manganese sulphate) at this juncture.

Releasing the Scoping Study is utterly pointless if we're not extracting, so I think that's wasted energy at the moment. Of more relevance would be the DFS that was completed a number of years ago and requested to be withheld by the Togolese government. Visibility of the DFS would give us accurate NPV and show just how undervalued we are.

Totally with you on the irritation - but they are working through that plan to production (hopefully as we type). We cannot downplay the role of Covid-19 and the need to ensure that we are supporting a safe working environment. This wasn't an issue last November, but is very much a practical issue now - and I am sure that worker safety will be a fundamental element of any Mining covenant - not least one that is backed by World Bank financing.

The scoping study is not a pre-requisite to phase 1 extraction, rather looking into how the company could expand into the more lucrative manganese sulphate refining process at a later stage (probably after the volumetric ramp up.

Any changes to the Mining Convention - plus assurances around Covid-19 management would be the bookies' favourite topics for this week's meetings.

I don't know.

The minimum I do expect is an absolutely definitive plan of action, also addressing Covid safety, and a hard guarantee/guaranteed timeline that the godforsaken license is issued against.

The goalposts have been moved too often, even making exceptions for the pandemic

Who's been checking the flight schedule into Lome every few minutes....?

Welcome aboard gpeppers.

I can't really recommend any specific sites, but if you follow the breadcrumbs from searching on mining within the specific mineral your companies of interest are exploring, and just keep digging into terms you find and don't understand.

It is worth looking into each mineral separately as there are huge differences in mineral grading, extraction and refining. Ferrex/Keras has seen me grow my knowledge from a start point of nothing, across Iron, Manganese, Gold and Phosphate. Every day's a school day! :-)

Enjoy and ATB!

Couldn't agree more. Having been involved in sizable deals, of a far lesser nature than this, the chances of news emerging on the day is remote. I agree that it is unlikely for business to be concluded in a single sitting.

It'd be prudent to expect news next week - anything more/faster would be amazing.

As someone else had mentioned previously - I can see that development of a Covid-19 mitigation plan would almost certainly be a new requirement that would have had no prior consideration, and could make a reasonable case for a meeting of the minds.

That said, I would expect at a bare minimum that this visit delivers a fully guaranteed, step by step plan of actions to fully secure the permit sign off (incorporating any Covid mitigation.)

Whether there is any further opportunity open for discussion based on our project in Utah - could shape another agenda item.

It's a really good point, Gloster. Covid-19 means that we are not in 'normal' times and so an extra layer of risk management in the Production plans would be crucial - well over and above any prior considerations.