Member Info for pablo2

Bassguy, no, I'm not sure what the tax implications are to us personally. When we receive shares, however many we get, we surely won't personally incur any tax liability, perhaps KRS might.

If we later sell CAI shares there will be brokerage charges which will vary considerably for UK investors, the tax considerations then of any profit made will be personal, I would imagine CGT but you'd be doing well to surpass your annual tax-free limit currently £12,000.

These are my stats verifed by Dave Reeves on Jan 24th :

New calcs :
723,750,000 CAI shares coming our way on positive PFS
2289m KRS shares exist

So dividing up, one needs 3.1627 KRS shares to merit 1 CAI share

So 1m KRS shares gets one 316,186 CAI shares

Curent costs and values : 1m KRS costs about £3,800
316,186 CAI are worth about AUD7905 = £4,300

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One would need to get the current exchange rate and share price of KRS and CAI to transpose to today, but can't be much out.

Emailed Dave about the CAI shares, whether they'd come out of escrow, etc. He came back with :

"Calidus did announce this, but not as a fanfare as to be honest, the rest of the market would probably see it as an overhang although this is obviously not the case: https://www.asx.com.au/asxpdf/20190611/pdf/445qx1s75f8sb5.pdf

Yes, as per every Calidus announcement, the PFS is due in July.

There will be an announcement before this of the steps Keras is undertaking and still needs to undertake for the distribution prior to this I imagine."

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So, all looking good and expect a KRS announcement on the distribution sometime in July it looks like, probably just before or at the same time as the CAI PFS released.

Blimey, I can't read, guidance is 65k oz for 2019 you're right

So that's a 27.5% increase on 2018 at Kapan

Impressed that they're guiding a 20% increase in year-on-year Kapan production for 2019 - up to 61k oz of gold.

Otherwise, although, all lovey-dovey, not much in the Results

Not doing so well, needs to attract and incentivise companies like Chaarat I'd say :

https://www.timesca.com/index.php/news/26-opinion-head/21310-kyrgyzstan-tax-revenues-declining-unemployment-and-poverty-persist

So, you've just joined the wonderful ranks of LSE today 'down-to-earth'. What made you do that, might I ask?

You seem to be thankful one moment to the mgmt and cynical and dis-trusting the next.

Anyway, if you've made your decision to exit after many years, why bother posting now?

Should be some decent newsflow in the next week or so, annual results and Kapan guidance.

Ciftay are hard at work for us and yes, they are doing work for which their payment is an investment in Chaarat, seems like a great endorsement from a pretty big company.

I suppose if they really want liquidity they would announce a Record Date for the future allowing Tom, Dick, and Harry to get in. This I hope does not happen.

Bit of a worry is when we go 'ex'. Perhaps some may sell out of KRS when they know they've qualified for CAI. Not saying that's sensible with Togo permit 'imminent', but could happen.

Over there, I imagine after the 'Pre-Feas', CAI shareholders are equalling fearing a CAI sell-off when we get our entitlement.

Our CAI shares should now be out of Escrow but surely can't be admitted to trading as they have no rightful owners yet - hence my previous post about 'Escrow to Limbo'

But presumably, CAI shares, into Limbo ‘cause got to wait for next month’s PFS. Got a few more Friday just in case but I’d love a little spike in something else to cash-in to get more KRS before Record Date - however, it may be June 21st ???

As a non-holder, I presume you haven't been studying the development of the Tulkubash project alongside the Kyzltash project for the last 8 years or so like a lot of investors have on here.

We've watched the company being dragged through Krygyz legal battles and slowed down by previous ineffective mgmt and Chinese involvement. We finally have a mgmt with over 40% skin in the game capable of delivering a fantastic business in the Krygyz and the FSU where they are comfortable and very able to conduct themselves.

This company is building a big stake in the region, as LTH's we are all well pleased and in profit with our investments and we're all looking for a lot more in the next 2 or 3 years.

Great interview with Dusty on the 'mediocre resource' Shakhtar declares, where just last year's drilling was in fact the lowest discovery cost Dusty has ever had in his 44 years in the industry adding 650 k oz of gold and another 1.5 years to life of mine.

https://www.youtube.com/watch?v=1uWn1p3uleE&feature=youtu.be

You know that innocuous share movement reported yesterday by Russell Lamming of 47m shares from some Trust into his own name, wonder if there is some deliberate positioning there ahead of an imminent CAI share qualification??!?

Nothing to suggest there is or isn't but it seems a big move for no obvious reason.

Looks like AMP is toast. Maybe very soon, maybe Sept 30th, but can’t see any way out that keeps the company afloat. Even understanding lenders aren’t going to run with this imo. Great idea setting up small companies and getting them going but they’ve all taken too long. How long till Motif pulls it’s socks up again, 1 year? 2 years? Too long for Amp

Enlighten me on your name, I used to watch loads of those Phil Silvers’ shows, magic. Don’t think you’ve got many worries about ‘bust’ if you’ve averaged down to the teens, it’s ‘win big’ for you and me. My first buy in was at 64p but my average is in the low teens thankfully now. We’ve outlived Dekel, Linda and others and watched Martin A and ‘Fasanara’ take complete control. He’s got so much skin in this game, he’s not going to let us or himself down. Have a feeling his average might well be in the 20’s now, he’s just kept on buying all the way back up

Sounds good, convertible bonds taken by a new investor for another $5m for a total of $15m. Convertible @ 37p should that be desired at a later date

Don’t think there’s much to worry us. Perhaps this tenement thing maybe a small spanner but not too problematic hopefully. The actual distribution of CAI shares should be a fantastic bonus and something we’ve all been looking forward to, and it’s now nigh on certain to happen(positive PFS). No big worries unless you’re a 50% tax payer with about 20 squillion qualifying KRS shares. Still hoping to get some more KRS shares soon before any cut-off

Sound Energy did this operation early 2018 when it sold off it's Italian assets to create Coro. It first went through the courts to complete the Capital Reduction and then that allowed SOU to distribute CORO shares to existing SOU holders :

The Court Order approving the Reduction of Capital has been registered with the Registrar of Companies on 13 March 2018 and accordingly the Reduction of Capital has now become effective. The Reduction of Capital has created distributable reserves of approximately £277.7 million for Sound Energy and will enable the Sound Energy shareholders on the register at 6:00pm on the repayment record date of 3 April 2018 (the "Repayment Record Date") to receive an aggregate of 185,907,500 (subject to rounding of fractional entitlements) new ordinary shares in the share capital of Saffron Energy plc (to be renamed Coro Energy plc) (the "Coro Consideration Shares") in connection with the Disposal, with the Coro Consideration Shares to be issued directly to such Sound Energy shareholders on completion of the Disposal. The issuance of the Coro Consideration Shares to the Sound Energy shareholders will constitute an indirect repayment of capital by Sound Energy to Sound Energy shareholders.

Thanks for that info, I was too lazy to check. That's great news, Russell said on April 29th, 'We expect authorisation prior to the wet season starting in the next few months.'

Surely it's going to happen this time

You’re right there, very few understand this share and there was great dismay at the creation of Calidus. My feeling is we’re going to get the green light in Togo any day, but will we need funds? We didn’t for the bulk sample but do we think the ongoing situation will be the same? CAI is giving out very good signals and imo is certain to get the positive PFS we need. This share looks to me a very likely double winner this year and I’m really hoping to get more shares asap

Yeah, don't think these should cause any headaches. All these Options expire in about two weeks and for each one exercised the company is receiving 2.5c, which is about the asking price on the open market anyway.

Wonder if June 22 might be a significant secret cut-off date for qualification for CAI distribution to KRS holders? (to be announced on June 23) Hope so, though I suppose an announcement of a future cut-off date might well spark some decent buying activity