Member Info for Markyess

Literally received corporate action notifications today for the initial issue of Calidus shares to my Halifax ISA. All allocations and values aligned with pre-consolidation numbers, so assume there'll be a follow up in due course with the consolidation taking effect.

No real bother for me sticking with Halifax, I won't be trading Calidus, I pretty much expect the next action I'll take on my holding will be reinvesting the funds after buy out.

I keep saying it, and I know none of you want to hear it, but the finalisation of paperwork will be closer to the end of Q1.

It’s pointless rushing it through any faster, given a spade won’t hit the ground until the end of the wet season.

Per Russell at the investors meeting, it’s all under control and in our hands, it’s not like previous ‘delays’.

Hi SBK

Given the discussions with Russell at the Investor meeting last month, I don't think it will, and I'm not sure it will make much difference if it does or doesn't.

A spade won't be hitting the ground until the end of the wet season (towards end of Q1 2020) anyway.

It will make little difference whether the documentation is signed off 3 months or 3 hours before the spade hits the ground.

Less than that I believe. Probably closer to 6 months. Pretty normal for most mines in similar parts of the world.

Beauty of the Manganese business is it is generally managed on a stockpile principle anyway. So just because extraction only happens on a short time period, shipping and revenue can be year round.

Make hay whilst the sun shines.

I believed the wet season ran until Feb/March too.

A spade won't hit the ground in Nayega until towards the end of the wet season, there's no hurry or need to push for a more rapid close out, if we confirmed completion tomorrow, we'd still be sat on our hands for a couple of months.

Hi JTec,

I'm not qualified to give and this should not be taken as advice (thought I'd get that in quick)

For CGT purposes, your costs of acquisition in Keras are taken as your portfolio costs and split across Keras and Calidus (for ease, let's say its a 50:50 split).

CGT would then be applicable on disposal of either asset comparing sales price against your respective acquisition coats allocated to each holding.

Hope that makes sense.

ATB
Mark

Imagine I have posted a GIF of Michael Jackson eating popcorn in a cinema.

My sincerest regrets to those that have lost out over this. As I said at the time, I felt the notion of selling out at that point was an incredibly bold and risky move, especially given how rarely these events happen - however, you made that decision in good faith based on the information made publicly available.

I hope satisfactory resolution is reached.

ATB

Cheers Prop... for now, we'll be mopping up 1 or 2 of those available at sub 0.3p

Will let you know if things change.... ;-)

I think you misunderstand just how much skin we have in Calidus.

Anyone that was 'interested' in recouping some cash would not be moving too fast given both Keras and Calidus are currently through the floor, and both, respectively are so close to production.

It'd be the worst 'profit taking' ever - when there's so little profit to take.

The trouble is, these events are far from common place.

Further to my slightly earlier message, I truly hope none of the regulars/LTH on here have got burnt by hasty action.

With fear of sounding like an enormous pr*ck, it's why you should always look before you leap.

It was a massive risk to sell out yesterday, irregardless of the actual Calidus issue. Look, look again, and double check.

Anyone that's lost out, unless you did all your double checking and have tangible evidence from your broker of the specific rules of engagement, the only person responsible is yourself. I'm sorry to say.

Hi Dunkelman, based on recent corporate presentations, an independent valuation placed Nayega/Keras at a base value of around £12m

£11.7m was the precise quoted value.

Government approval to mine and produce on 30,000 hectares of land containing JORC compliant resource indicating 24m tonnes of Mangenese rich material - with upside.
Exploration permits for Cobalt and Nickel rich fields in Kamina, Togo
Exploration permits for a similar sized area of land in the near vicinity of Nayega with similar Manganese profiling

I mean - this is all available on the Keras corporate website. There's a compelling story.

As at the present moment, the company is valued at £6m. Absolute shirt buttons. We're all here to make money.

This is the easiest money I've seen.

There's a chance - but let's just say, the market capitalisation is dropping to a level within which I have a group of people interested in making a very significant offer, such is the clear potential.

The company has approval to mine, at exceptionally low cost, and will be cash flow positive from early 2020. It's a steal, and the more it drops, the more we'll be 'stealing'.

Hey Pablo, what are you not comfortable about on the split, mate?

I think it looks broadly right - the going in assumption was that your Keras purchase cost would be apportioned 50-50 across your Calidus/Keras portfolio, but it probably makes sense if the weighting is slightly in favour of Calidus?

I am glad that the only holding I have outside of a tax free wrapper is the holding for my nephews.

I need to get that moved into a more suitable wrapper for them, though.

Exploration Permit was granted in/pre 2011

Production/exploitation permit has been approved by government decree, paperwork needs completion but is predominantly in hands of Keras/SGM

No work will take place until Q1 of 2020 regardless of completion of paperwork - waiting until the wet season ends

ATB
Mark

Hi Billy, please don't take my short handed replies as surliness:

* Placing referred to Calidus, NOT Keras - Calidus will require both a placing and loan financing to take to production
* Keras production is unbelievably low cost and based on a tolling model, no retained cost and no cost until a shovel hits the ground
* Current Keras overheads are around £95k a year
* Additional per Tomat's post

ATB
Mark