Member Info for Markyess

Fingers crossed!

Very interesting activity going on at the moment... leaky ship?

Fingers crossed... the company is insanely under valued as it stands. Even pre-permit.

The current share price is an insult.

I would expect (in fact, I'd almost hope) the entire company is on as close to 'freeze' as possible during this pandemic, with most people furloughed and costs at a minimum.

Suffice to say, there is no reason we should expect to see the completion of a license , where it is likely to involve people traveling or meeting to finalise the small print.

Priority number 1 needs to be to get through the pandemic safely, for all employees and stakeholders of Keras. Where work can be finalised (safely, at home) by the skeleton crew, that's great - but I would anticipate full completion and sign off to be pie in the sky until people can travel and meet more freely.

In Stage 1 of my calcs, the share price should have represented 1.3p and not a tenth of a penny

The perils of hand typing my Excel calcs into here, rather than copying.

What was the projected phase 1 cost per DMTU? I have ~$2.40 in my head.

Given I based my back of fag packet numbers below on a projected $1 per DMTU profit....

My very quick sums came out similar:

Assumptions
£0.80 per DMTU profit (on the low side)
P/E Ratio for in Production Company - 6 (on the low side)
Issued Shares Remain @ 2.785bn
Manganese extraction only (Sulphate production project remains shelved)

Based on Stage 1 (6500 tonnes/month)
Monthly Profit - £0.5m
Annual Profit - £6m
Market Cap - £36m
Price per share - £0.0013 (10+ bags on current price)

Based on Stage 2 (25,000 tonnes/month)
Monthly Profit - £2m
Annual Profit - £24m
Market Cap - £140m
Price per share - £0.05 (~50 bags on current price)

I think this is pretty conservative

ATB

I'm glad to hear it sounds like there are more positive times ahead for you bassguy.

I hope you're able to get back in here in due course.

To be honest, even if you miss the bottom, you'll still hit a decent return I reckon. The opportunity is huge, once we get over the first hurdle and start to move forward.

I honestly believe that the banks reluctance to play fair is setting us up for a backlash against the banking industry that will ultimately change the world as we know it.

People have long memories, and remember how quickly the banks were bailed out 10 years ago. Their inflexibility to support small businesses is metaphorically a criminal act of economic sabotage.

Wishing you the very best, bassguy. I hope you get your position sorted (very, very soon), and you can get back in before things take off (hopefully imminently!).

I'm not sure I'd call it an increase - it seems just to be a daily reset/reaction with your shares being picked up.

Our market capitalisation is truly daft at the moment.

Wish I could pick up some more, but I need to make sure the bills are paid for now.

It helps that I spoke to the bloke. I don't profess to being the world's best judge of character, my list of ex's attests to that.

What was clear from speaking to him though, is just how tightly he feels his balls are in a vice on Keras. If he were to dump and run, he'd literally find himself on his own at Christmas.

He does also genuinely sees and firmly believes in the financial potential - it just made sense for Russell and him to divide and conquer along their areas of expertise.

DR won't be exiting Keras for a number of reasons, not only financial and non-financial skin in the game, but he also persuaded a huge number of people to invest too. He remains a key member of the board, albeit his time in an Exec capacity is best served in Oz.

I can't argue with that. The news flow to us PI's has been very poor indeed.

You'll get no hostilities from me bigjonny, you've been here long enough, you've earned your stripes, and your right to comment/rant as you see fit.

I don't know if you've ever had the chance to speak with Russell or Dave first hand. If you had, I think your opinion of them would be a little different.

I can assure you, they are not wantonly making money out of Keras at our expense.

You mention embarrassment if Keras fails.... maybe key members of the BoD share that sentiment given how much of their own, their friends and their family have invested (very) heavily in their project. They can't afford for it to fail, financially or morally.

ATB

I will draw your attention to Russell foregoing a huge amount of his Calidus entitlement to instead heavily financially commit to Keras at the tail end of last year.

I get the frustration. It's not helped by the global crisis wiping value off pretty much everything. We've held tight for a long time, just sit tight a little longer now.

I'm certain this will come good, it's just going to stretch another couple of months.

Given how much skin he has in the game personally (and close friends, family etc.) it'd be difficult to blame him for keeping more than a passing interest in progress.

From speaking with him in November - he's not gone anywhere - he's involved on a day to day basis, just less formally.

If it's a choice between his attendance at the AGM, or breathing down the necks of folks in Togo to get a spade in the ground, I know what my preference would be.

Galling , but it's now been the case for a while. I started investing in mineral juniors in around 2007, and you'd find that actually you could make decent returns of exploratory news, even getting involved with an explorer early.

Sentiment in juniors and explorers seems to have been decimated and never recovered since around 2008 and the global financial collapse. There now appears to be no money to be made by 'getting in early' in mineral exploration. The markets don't care about potential - they want licenses and spades in the ground.

I still have faith in the BoD - mostly as I have spoken to them. I have confidence that Keras manganese will deliver a return - but moreover, when Keras manganese is making us revenue, I have faith in this BoD creating and spinning out another Calidus.

It's just not quick win stuff anymore.

Cracking newsflow over there. Regulations on the ASX insist on certain newsflow, and I have to say, I like it. The frequent quarterly updates at a minimum give an air of openness.

Maybe something for AIM to consider.