Member Info for pablo2

I’m interested to know how you get on. Where are you thinking of placing this spreadbet? I haven’t done spreadbets but I often do Cfd’s. If one had a Long Cfd over Nov19/Nov 20, I imagine one would be given CAI shares or perhaps cash to the value. However, with the lack of KRS liquidity, not sure if IG would even do a Long cfd let alone a short one. Perhaps I’ll check it out tomorrow and what might happen on Nov 20

Shorting the KRS stock - interesting idea.

Firstly, who might let one short it? IG ? It might be quite difficult.

Secondly, would the capital reduction actually result in perhaps creating a different entity that wouldn't allow you to carry the short over from Nov 19 to Nov 20 ? Not sure. Perhaps it is a clever idea, certainly the sp is going to fall Nov19/Nov20. Given ownership of KRS shares merits being given CAI shares, would ownership of a negative amount of KRS shares create a liability to provide CAI shares? That is, if you borrowed 1m shares of someone and then sold them, they would not only want their 1m shares back eventually but would also want their CAI entitlement.

Things to ponder but maybe it is a great idea ?!?

100,009 for me - all I can afford and probably my last top-up before Nov19/Nov20.

Those Calidus guys are running scared it seems with their sp down to 0.22c. However, their volume in value is only running at about £20k today and ours around £10k. These are pitiful levels for such wonderful stocks and think these volumes should pick up after Nov 19 but what levels we'll settle at around Xmas,say, is anyone's guess.

Get Mn production going and get Calidus sold off, lock stock and barrel, then we'll be laughing all the way to the bank.

I'm with AJBell too.

I stated before : I learned today AJBell will take all my distribution into my two accounts with most going into my ISA, they are waiving their minimum £10,000 rule as it's a corporate event. Trading CAI is telephone only and a bit dear at £29.95 or so but I can't buy any further CAI except a minimum of £10,000

I suggest it might not work that Euroz thing with your Barclay nominee holding and best to get them transferred over to AJBell immediately. Try https://www.youinvest.co.uk/transferring-to-us and get the ball rolling asap. Good company, helpful for voting, letters of representation, dealing cost £9.95 a trade, large portfolio £50k + charge £7.50 a quarter, proportionately less if smaller. Could just transfer the KRS and then you'd have just KRS and CAI there.

Ask your broker, don't think your idea of selling just before Record Date is going to work.

As we said before, Russell has factored in a 50% overnight drop on Nov 19/20 but I think that's an exaggeration.

I learned today AJBell will take all my distribution into my two accounts with most going into my ISA, they are waiving their minimum £10,000 rule as it's a corporate event. Trading CAI is telephone only and a bit dear at £29.95 or so but I can't buy any further CAI except a minimum of £10,000

Believe the norm is now 2-day settlement but I believe this is irrelevant. Just need to buy on or before Nov 19 I reckon. If you sold on the 19th you’d expect to not qualify wouldn’t you? Conversely buying on the 19th is not ‘ex’

Weren't you trying to make Wednesday's meeting?

Think KRS shares could easily rise steadily into Nov 19th now, surely any Selling must dry up

Glad to hear you’re in good spirits. Was hoping to meet you last night, it was a great time and quite informative.

Think Russell said production costs were about $3.10 per ....ton of manganese ore (?). Anyway, pretty sure of the figure of $3.10 perhaps Markyess could confirm

Yes interesting point Russell made that they are prevented from publishing a BFS at the moment by the Togolese govt. When this gets the ok early next year, it's publication could really highlight the great project metrics, which are to generate FCF(free cash flow) of about $2m a year at initial rates but they could soon triple up on that with increased production to $6m a year.

The presentation of current value in KRS predicts a 50% fall in KRS overnight on Nov 19/20 but still has the metrics of buying 1m KRS shares now for £5000 as being worth £6,311 on Nov 20 with the CAI distribution. Personally I now see that 50% fall exaggerated

Great to meet Chirpy Cheep and Markyess - presumably I saw you too Pinecone but didn't clock your LSE name.
Really enjoyable and twp folks from my SOU adventures were there who also needed cheering up.

Dave presented first for Calidus and interesting stories of how they consolidated the land grab in the old days from quite eccentric individuals. Also interesting to know that 'poaching' (of gold) still goes on both legally and illegally. They cannot refuse to allow mini prospectors to have a little dig around with their picks and allow it on the understanding all little nuggets locations are logged with us for future area investigations. So minor in terms of gold removes from surface but can be quite informative. Dave also mentioned we have not drilled anything below 250m whereas he fully expects gold down to 1km so LOM could well be seriously extended over time.

Dave interestingly said to me later that Calidus will 100% be taken over at some point. He said they had companies sniffing around all the time but it will probably not be until production starts though that's not long being 2021 I believe. The Environmental permit is about the only slightly grey area beyond our control, like most other disused mines, we've got bats, particularly of interest are our 'ghost bats'. These and other environmental considerations take time to discuss, work around, but nothing seen as a big problem. Great presentation, nothing to stop us, CAI share price he thinks under stress by fearful Aussies expecting a Keras deluge to hit the Aussie market which won't happen or will only happen in a limited way for a limited time.

Russell next up, another great presentation but couldn't stress enough how simple our business was compared to gold mining, just dig up the first up to 4m of earth put it in a type of washing machine and truck it off to port was the essence of it. The timings of the CAI consolidation and our distribution, pretty well set in stone now for overnight Nov 19/20, are unfortunate but no real problem. We will be issued our shares and then they'll be consolidated around the end of November. Dave stated this essential for big ii's to get involved with CAI. Russell also said we'd have a consolidation one day.

Paperwork all but done for our exploitation license and it's absolutely confirmed, president, etc. Togo becoming investor friendly at last.

Always possibilities for considering other projects and looks like our one should run itself pretty well by Q4 next year. Production to start very soon in the New Year, not sure I heard correctly the short wet season considerations, but we should be generating cash in Q1 I believe.

Just emailed DR about something unrelated and he confirmed he'll be at the event on Wednesday - long way to come, should be good.

Really would love to have that exploitation contract signed and sealed, would make it much more celebratory for me

When they have the definitive sign-off it will have to be RNS'd immediately, event or no event. If it doesn't happen before Wednesday, that's a pity. We'll obviously get an update on Wednesday or someone will strangle Russell.

I agree with you for once, something's got to change with this company

Obviously a big mistake to publish a timetable on events we have no control over. Oct 21st : ‘Keras anticipates that the all documentation related to the Exploitation Permit will be signed by SGM and Keras during the course of the current week, and a full announcement of the terms of the Permit and the underlying protocols will be made immediately after signature.’

It looks like it's the end and this farcical takeover is well and truly stuffed onto shareholders. No recovery, just a miserable 10p for about 7 or 8 years of heartache.

Get the backhanders ready for the Big Boys or are they all going anyway to the new enterprise?

Utter stuffing

They haven't replied but I only emailed 2 hours ago. I'll call them tomorrow if still nothing. Could be a good attendance.

I'm seriously considering going to the event, have emailed St.Brides partners to see if they want a shareholder letter.

Not too far to go for me, down from Hitchin Herts

Forget the horses, you sound very knowledgeable about manganese mining, funding and sales. Keep posting but, if poss, don't use too many acronyms we're not all au fait with

Got another 160,881 showing as a Sell @ 0.46p on NEX, very tight actual spread

Bit of a delay with our definitive RNS but we waited years for last week's, a few more days shouldn't hurt.

SBK - can you confirm that we need $12.5m for full capacity at Togo? Whatever the amount, Russell said in RNS on 27th Aug, 'Keras plans to expand and improve the plant to add more value and increase production. The intention is to fund this in conjunction with an offtake agreement rather than equity.'