Member Info for Markyess

Including one large sale (2.5m) enabled me a top up/average down at my lowest price point to date.

applegarth Knowing this particular share, I wouldn't be surprised if this retraces to a spot sub 0.40 at least for a few hours in the next week. Barring the resource re-rate happening very early in December. GLA

Thanks again Kev - first hand experience of a similar process is very, very useful. Interesting to hear that option of moving provider (to one that manages ASX) could be an option. Are there any that offer tax protection on overseas investments?

SBK - I doubt KRS would be bought out at the same time as a CAI acquisition, just based on how many shares are held by BoD and LTH respectively. A hostile on KRS would be pretty tricky to execute. Albeit, if the share values of KRS and CAI continue to hold so far adrift, there might be a big player try and acquire a sizable stake in KRS to get their mitts on pro-rata shareholding of CAI

Hi jr - I think you're broadly right - if the company is sold off, KRS would realise full value of its holding (in cash) including all performance shares held in escrow. I would imagine that the company would then have an EGM to discuss what to do with proceeds (special dividend, or invest in an alternative initiative. In the event all performance criteria is met, and all shares released from Escrow, shares would be issued pro-rata to KRS shareholders at that point in time - whether as actual shares, or cash value based on shareholder preference or feasibility of owning ASX listed shares (assuming most UK SIPPs and ISAs would not allow holdings of ASX shares, investors with these would have their shares sold off and cash value applied to their accounts)

Hi Jim - from a financial perspective, we have written down the IO assets, so they do not feature in the company's accounts. I believe the company still owns the exploration rights however, so any recompense would be a bonus, or alternatively they could be re-engaged if the market recovered. Almost certain that was covered off in an RNS a while back (around the time of the rebrand from Ferrex) in which it was said that although the assets were written down, the company would try to unlock some value from them (i.e. disposal). I'll try and dig it out this evening.

In the event of a CAI buy out, I wonder whether the cash would be issued pro rata to shareholders as special dividend or, by that time, options to invest in other exploration initiatives may exist? Maybe Togo would be primed by that point? The proceeds from a CAI sell off would fund Togo a very good way through to establishing a Ferro Manganese plant, would also enable a lot of exploration in battery metals. Maybe a recovery in Iron Ore may see the currently shelved (previously defined 'company making') initiatives in Gabon and South Africa resurface? Lots of options, lots of promise! GLAH

Indeed Chesh - I imagine/speculate that those of us with their holdings in ISA's who cannot trade ASX will have no choice but to receive a cash dividend to the value of the ASX shares pro-rated to our KRS holdings. At that point, it's up to us whether we pull the funds out of the ISA and independently plough back into CAI or not. I can't see a practical way of physical shares being issued to those using ISAs without major tax implication. It's no bad thing - just an inconvenience if you wish to continue to hold in CAI

I'd need to understand implications. Almost my entire holding is in an ISA, all I have outside is shares held in trust for my nephews. My broker/ISA provider does not support ASX trades.

It may have some minor bearing, but given full value of the investment in Calidus would be realised (including full allocation of performance shares) in the event Calidus is bought out, the Escrow effect should be lower than it currently is! Any murmurings of takeover interest would make things very exciting.

An excellent summary Kev, thank you. Very clearly shows that the efforts to deramp are way off the mark as there is eminent near term value for Keras shareholders.

We have conglomerate!!! It'd be nice if we get a bit of momentum given recent trends off the back of that news. Need a few articles published off the back of the RNS, maybe a few photos in the weeks to come.

My theory, for all it's worth, is that Keras is essentially on 'hiatus' and not burning any cash at all, until value from Calidus is reflected back into the AIM Plc., and until there are clearer signs of a permit sign off by the Togolese government. There will probably then be a cash raise, but deliberately holding off, performing minimal 'lights on' tasks, reducing cash burn until there is innate value against which to raise with minimised dilution.