Member Info for Markyess

Dunno, but I'm hovering for a large top up should the quote price at any point start 0.15

Was thinking that. Put in a cheeky little top up.

PS excavation is in a short window, and production/distribution is managed from stock piling.

Which is why we'll all start to become au fait with stock pile financing in the next few months...

Hi Jonny

The reason I am as cool as a cucumber on this, is that it was explained at the investor event in November. Manganese excavation tends not to be year round - the work is undertaken outside of the wet season, but also outside of the extreme dry periods when the ground is like a dust bowl.

End of Q1 was always the start point of optimum ground conditions. With regard to the permit, the hard yards are done, the government approvals are in place, the effort now sits with Keras to perform the corporate restructures and finalise any off-take agreements. It is a far more comfortable spot to be in.

I don't care if the permit is completed 5 minutes before a spade hits the ground. The important deadline is production starting, not the permit, now.

I think we will.

We don’t need to provide the other minerals in order to exploit the market.

I’d go as far as to say, we’re more likely to explore the EV market than we are to support the steel industry, especially given the composition of our mineralisation is highly suited to conductive usage.

Chesh - you can add the fact that I'm too lazy to trade on top of the equal levels of tightness!

I just want someone to drop a bag of cash off at my door.

Auctions? That's made my blood run cold.

I think I'll just hold in Calidus until some lovely mining giant comes along and gives me cold hard cash through a corporate action! :-D

Hey Prop - a penny pre-consolidation was tongue in cheek. Realistically I would anticipate a return to around pre-Calidus carve out levels i.e. ~0.45p

End of 2020 pricing is tough, as there's a lot of variables. Let's hope we're well on the way to reaching 300kpta production, an assume all else remains equal - including a sluggish market responding to value.

Let's say the market acknowledges production to around 100kpta levels, and a conservative 50p profit per DMTU, this would project annual profit to around £5m - and a relatively consistent industry p/e ratio of 9 would project Market Cap @ ~£45m. This would reflect a pre-consolidation price of around 1.35p/share, post consolidation at around 13.5p/share with a bundle of upside as production ramps to 3x the production levels.

We absolutely should have a proper celebratory session when Keras starts to show the Market Capitalisation levels we know it should. I'm hoping that a portion of my Keras holding is going to make me mortgage free before we hit 2021. The remainder and Calidus holding will then be the icing on the cake!

And yep, I definitely meant a penny pre-consolidation!

I'm facing the same dilemma, I'm looking to 'borrow' some funds out of my company in lieu of my year end dividend to optimise my return.

I guess in the general scheme of things, buying at 0.165 or buying at 0.155 will actually make only marginal difference when this ultimately hits a penny and continues to march upwards.

Hi Pablo

'With that fairly mini-funding of about £300k, does that mean we've already got the remainder of the $1.5m for the expansion plant? Not sure myself, anyway fairly upbeat update.'

The way I read it, a part of the £300k is required as the equivalent of a down payment to start the lead time on the expansion plant as early as possible. The remainder would be funded through operational profit, or using the stockpile leverage funding from one of the partner discussions.

I am quietly confident (although not 100% sure) we've seen the last of equity raises at Keras for the foreseeable future.

Thanks Tom! Will go and look now!

The only one I can find is dated 29th August 2019 and still refers to Calidus. The H2 2019 Presentation?

I would strongly suggest that Russell will have a very clear preference on one action happening before the other.

I cannot see that he'd be even remotely happy with the consolidated share price being sub 2p.

I think he'd be a bit miffed if the consolidated share prices was sub 5p, as it would still lead to reservations from II's

I'm not sure it would inhibit people adding shares too much. It'd still be a penny share, in relation to issued share capital, your investment would be proportionately the same.

Consolidation is an inevitability IMO.

More than likely after we go operational in Nayega, rather than beforehand. Current issued capital and market cap are hardly green flags for investment. Once we're cash generative, I'd anticipate some restoration in value, and then a good opportunity to consolidate.

I still think you'd be looking in the region of a 10-1 consolidation model. I'm not sure they'd want to reduce the issued share capital too far below 250m mark.

I made three relatively large buys today, all below the spread and each of them is showing on here as a sell.

Hi Andee,

I can only respond to what the management team advised at the investor event - the planned intention is that a spade won't hit the ground until towards the end of Q1 due to weather/season and ground conditions.

Due to the nature of Manganese operations as a stockpile business, it is broadly anticipated that the actual excavation effort only take place in a reduced window within the year, with supply and shipping taking place from the stockpile over the remainder of the period.

If the wet season is actually over, then it could be the opposite concern - that the ground is too dry, inhibiting excavation or creating a dust bowl.

The vitals remain the same - there is and has never been a plan to put a spade in the ground until towards the end of Q1 and we are 'masters of our on destiny' on the remaining paperwork.

We've essentially *got* the license. This is in the public domain.

The residual paperwork for completion is broadly sat with us.

A spade won't hit the ground until the end of the wet season, so we're not holding ourselves up.

If efforts are spent securing/finalising an off take agreement, as was inferred at the investor event, then that is in all of our interests.

The Calidus distribution would not have impaired activity on Keras even remotely.

Well, you can't beat a bit of inconsistency! I am yet to receive notification from Halifax on the consolidation action!

I'm not losing sleep over it, but it is a farce.