Would Calidus claim "Fully funded Pre-feasibility Study (PFS) commenced, completion due Q3 2019" in a March report, and now in April claim "Proceeds of the placement, together with Calidus’ existing cash will ensure the Company has sufficient funding to complete the pre-feasibility study (PFS)"
How many CAI shares are now in distribution and what is the effective dilution to us?
Russell Lamming, Chief Executive Officer of Keras, commented, "I am pleased to provide this update which is the result of 6 months of hard work by our management team and the authorities in Togo. We have spent a significant amount of time with the Togolese authorities to secure an agreement which will underpin the success of Nayega over the next decade and provide robust cashflows going forward. In addition to the commercial benefits to both the Republic of Togo and Keras shareholders, the agreements include a Social and Labour plan which will provide funding into the local communities surrounding the mining operation. We expect authorisation prior to the wet season starting in the next few months.
Artyth, I agree. Don't get me wrong, I am heavily invested here, but as a former MD, I can't imagine having not published a monthly report, communications to stakeholders, emails, or simply some form of communication for nearly six months. I would have been sacked. If they are doing their job, then they should simply tell us, if not, they should put salaries on hold to stop cash burn etc. It's a joke. Even if they have some good news, I see no excuse for their unacceptably poor engagement with the market.
Some of the grades aren't that exciting are they? I think until we know more, I wouldn't expect to see much of a reaction. It does however show that it's all to play for, and share price is still very much suppressed in my view. PFS is the big next step.
Still taking full salaries? Given they have had time off, something should give? In my experience if the revenue isn’t there, you need to cut cloth accordingly... roles employed aren’t useful at the moment are they?
I have been supportive of GEO, but this is taking the £&@@@/:!
Sorry, I have lost track a little. Can anyone confirm when the In Specie transfer will happen? Is it on the second anniversary of floatation, i.e. end of June 2019, or upon completion of successful feasibility, i.e. CY Q3?
I agree with everything, but let's not forget Martin Churchouse was there at the time as well.... the apparent expert. Greg would have been advised by Martin. All in all, 'near term' doesn't mean anything anymore.
I have to be honest, I am not sure what the board has been doing for the last few months. Just waiting and getting paid amounts to a six month holiday at shareholders expense and raises the rise of a raise.
I used to think Keunzel was hopeless, and had optimistic hopes for the changes, but so far nothing. I have to say when this permit is awarded, I am expecting some blunder on the back of it give. The time they have had to prepare.
Because in my view, the share price is deflated because no one believes the BOD at the moment. If they pull it off, it will jump... maybe not rocket. It should push 9-10 with relative ease. Frankly, I’m pretty annoyed with the lack of communication and transparency, which is either obstructive or poor management... either way, not good.
If I were the government, I would probably want assurances of grade prior to disrupting the local community, along with demonstration that the operator would employ local labour to the benefit of country and community.... that’s an expensive undertaking for Keras, but with a third party on board, we can tick all boxes and with it financed. Just speculating, but makes sense in my head