Member Info for pablo2

Sorry that it has dried up on here, there is quite an active group on a d v f n and simply can’t be bothered repeating here. Sure the new R & R for Tulkubash will come in March and similar news for Kapan with Life of Mind increased for the both. Production figures for Kapan - these should be released regularly but how frequently I don’t know. No surprise the sp is drifting with lack of news but should be reversed soon

Great spot on the smelter results. Not sure of the implications but think everyone is agreed the whole process of allowing a license for the bulk test and then pulling the plug after success would be daft in the extreme.

Looks good for some really big developments in Togo very soon to me.

Once the PFS comes out in Q3 and it's positive, a distribution of Calidus shares to KRS holders will take place. The shares will simply be issued as CAI Asx shares on a pro-rata basis to KRS holders.

The shares can be released from Escrow in June but we won't qualify for these performance shares until the PFS is released in Q3 so that will simply delay distribution a few months.

What 'company reconstruction' is needed? DR has never mentioned that in his emails to me.

In January he confirmed my stats :
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

Another non-answer answer I'm afraid after I asked :

"But where to now with Toga? Does the acceptance and testing of this sample have anything to do with our getting a mining license? Does the end-user have any clout with regards the Togolese authorities?

Sailing mid-March with our shipments. Can you say how long roughly to arrival at end-user or how long any testing might take?

I am very hopeful that long-term my investment in Keras and Calidus will come good and this year it looks good for the distribution of CAI shares with a positive PFS. Can you shed any light on when we might proceed further in Togo, presumably the bulk-sampling license was not granted as a one-off as that would be ridiculous.

Regards,
etc

He came back with :
"Evening pabs

Thanks for the email and your patience as a long term investor.

Unfortunately I can’t say more than what you have read in our announcements.

Obviously this is a big step forward and shows the relevant authorities in-country that we are capable of mining the Nayega deposit so can only hope that it focusses their minds.

With regards the timing on the smelter results we will give everyone an update as soon as we have more information.

Best

Russell"

'bout as long as a piece of string

I posed what you'd said JimBL at 08:49, basically :
'In all fairness, the dmtu price hasn't made the project viable until recently as it dropped in 2015. Was that why the license wasn't pressed for?
But manganese has risen enough in the last 2 years to make this a profitable project again and I am having trouble understanding why the BOD isn't being far more informative on where we now stand.
If we got permission for the bulk sample, then why? The site is apparently equipped and ready to mine. The sample is showing it's profitable. Local labour was used and more jobs ready to be created.
I'm more interested by what isn't being said than by what is.’ and asked, 'What now?'

I knew DR couldn't say much but he came back with :

"Everything stated is correct. This question is probably best directed at Russell but I doubt you will get an answer as we are just not in a position to answer with any useful detail prior to any potential market announcements.

Obviously we want to get the full operation happening and I believe that is a benefit to all stakeholders and would seem the logical way forward."
--------------------------------------------------
It had struck me the end-user will need to process before giving the go-ahead - the 10,000 tonnes hasn't even left port yet, so I suppose that's another month or so.

I’ll have a word with DR, he usually lets me have something within reason (careful on price sensitive).

Don’t think the assets will be worth much if we’ve never found a way to get a permit. Bit of clout needed somewhere defo

Good demonstration of capabilities and ore caliber but ,’What next boss?’

55% according to IG, big spread though

Back in Business - Restoration !

I’m hoping a lot sooner -Togo imminent and Calidus distribution 6 months away. Though at what point CAI achieve a decent sp is another thing - a takeover is the dream but more likely moving to their own production which is 2020?

I took a few more for my daughter’s Jisa, the trade at 16:04. Had a couple of email conversations with Dr Ryan Long at Edison and Dave Reeves. Ryan sticks with his maths on Alkane buying into Calidus at a good discount but DR thinks he’s nuts. Ryan :”I guess it depends how you look at it, Alkane hasn’t bought an interest in the project but a stake in the top co, Calidus Resources, which gives it exposure to a 1.2moz deposit at a cost of A$3.4/oz. If Alkane had instead acquired a direct interest in the project for c. A$4m, it would only have exposure to a 10% stake in the project and therefore would have paid A$32. You could argue both methods are right or wrong, it depends how you look at it.”

https://www.hardmanandco.com/research/corporate-research/transformed-and-de-risked/

Onwards and upwards, gaining momentum

https://www.malcysblog.com/2019/02/oil-price-sound-eco-atlantic-plexus-pantheon-aaog-aaa-and-finally/

gives it the thumbs up 'gas reserves ... to be across both structural and stratigraphic geometries'

Sent Dave Edison's report and he came back with :

'Alas Ryan cannot do maths, they have spent over 4 million swirling 10% of 1.25mozs, so 125kozs or 32 aud per ounce!!! No bargain there...'

He means author/analyst Dr Ryan D Long and presumably swirling should be squirrelling. So haven't bought into CAI at AUD$2.4 an oz but AUD$32 an oz !

@kerasplc

2 weeks since we began trucking the processed #manganese ore from our 10,000t bulk sampling programme at #Nayega. We have already amassed 4,000t at a secure location near Port Lome ahead of shipping in late February. Nayega is progressing into the next stage of development #KRS

Photo of tons of ore

'Next stage of development'?!? = license ?!?

Have HotCopper'd under thread 'Ann: Calidus Corporate Presentation'

(Always thought Ann was a frequent poster down there - lol)

https://www.edisoninvestmentresearch.com/research/report/alkane-resources67785/full Edison have done an in-depth report on Alkane. There are several references to their investment in Calidus particularly interesting is the valuation they put on Alkane’s investment compared to resources discovered by Calidus - ‘accumulating 10% of the company at an average price of US$2.4/oz of resources (A$3.4/oz).’ AND ‘which compares to the average in-situ value of ASX-listed gold explorers of US$24/oz Au and a global average of US$16/oz Au‘ Saying, therefore, Alkane got CAI shares at a big bargain price

I see whoever these impatient traders were they didn't stick around and took their quick losses :

253,364 - Tweedledee In/Out

133,374 - Tweedledum In/Out