Member Info for Tomat02

CC - in reply to your “The value of KRS without CAI will be nowhere near 0.51 upon distribution,it will be virually nil” - with the price of gold on the rise & Calidus share price rising nicely, with a £15m cap on distributing the CAI shares to us, the higher the CAI. shares go the more Keras will still hold after distribution. At exchange rate earlier today I made it that at 6c CAI share price Keras will still hold 39% of them after distribution, so the KRS share price shouldn’t crash to nothing. If Togo licence lands first, even better!

Monty & SBK, I’m not too worried about the distribution of only a proportion of the Calidus shares depending on the Calidus share price at the time, & the AUD/GBP exchange rate too of course, as it will mean Keras retaining the balance, which should hold the Keras share price up post distribution, and would help counter worries other Calidus holders might have of us overloading the market with our Calidus shares, though holding until it becomes a mine seems far preferable to me anyway! However, the RNS last month included "Our current proposal to distribute the Calidus shares will reward shareholders and allow us to be recognised and valued as a pure manganese play, which is unique on the London markets” so a partial distribution wouldn’t satisfy Keras’ desire to be pure manganese... Does anyone know where the £15m limit on the distribution comes from? Is it an annual limit, so could the same be distributed next year as well? So many questions!

Report on Diggers & dealers conference with reference to Calidus - https://smallcaps.com.au/gold-outshines-battery-metals-diggers-dealers-bullish-cautions/

Using Calidus market cap as currently showing on Hot Copper of A$68.77m, converted to £ by Google is £38.15m. From the latest Calidus presentation Keras hold 38.9% of this = £14.84m.
So why is Keras market cap (from HL info) only £10.87m? Undervalued by £4m if allowing nothing for the fantastic Togo manganese. And people are putting money into negative yielding bonds? Nuts!
PS. correct me if I’m wrong!

On a good day for gold price :-), a new CAI presentation for the Diggers & Dealers Mining Forum -
https://www.investi.com.au/api/announcements/cai/e8eb8026-685.pdf

Good mistake bass, it was only an inkling here too, but the chat induced some research & has reminded us all of the 182.57g/t.
Looks like The West Australian likes the sound of “3 ounces to the tonne” too -
https://thewest.com.au/business/public-companies/3-ounces-to-the-tonne-for-calidus-at-wa-gold-project-c-373140
:-)

You forget this from August 2017 then Bass?
6m @ 63.31g/t Au (incl 2m @ 182.57g/t) from 49m in hole 17KLRC032
I like Dave’s “The high-grade tenor of the results confirms that areas of the pit will contain bonanza grades.”
https://www.youtube.com/watch?v=mjdRgBAY278 anyone?
Happy days!

Did anyone listen to the conference call? I can’t find it on the website yet. Did VAT come up?
If Shanta are on such good terms with government & are sure VAT will come back, perhaps a nod in the right direction for shareholders would be for them to start repaying current amounts, with only the backlog still owing rather than have it keep mounting up more & more. And wasn’t there talk of offsetting it against tax on profits?

Just under 500k bought @ .62 on NEX!
Exciting days ahead!

A good post on Hot Copper overnight, thanks to Gwaihir -

“Posted in the Matador Mining presentation.

Interesting to note that of 80 ASX listed gold explorers and developers, 29 have a resource of greater than 1 million ounces, and that comes down to 13 when you factor in gold grades > 2 g/t.

And that is further reduced to just 6 companies when you factor in sovereign risk based on the Fraser Institute criteria for the top 25 locations.

And that is further reduced to just 4 companies out of the 80 when you factor in metallurgical recoveries greater than 90%.

So we are just left with 4 companies out of 80 (based on these criteria for gold explorers and developers).

Sovereign risk is the one I think that filters out a lot of potentially good companies, like WAF. What they should do is remove sovereign risk from the equation, and then see how many companies remain, my estimate would be about 8 to 10, rather than 4.

Nevertheless, it's an interesting chart, with Calidus being one of the final 4 remaining.”

I can’t get the chart he refers to to copy, but it’s page 5 in this presentation - http://www.investi.com.au/api/announcements/mzz/baf8bebf-20b.pdf

Then thanks to Rusty388 for share price research to go with this -
Current SP's at 1525hrs today:

MZZ - 0.325
BGL - 0.64
EAR - 0.22
CAI - 0.032

Before you all go wild with excitement, BGL’s market cap is $330m, so 6.6 times Calidus, rather than the 20 times SP, but 6.6 times, nonetheless!

GLA

No problem Chesh!
It was my second time of asking. In April they said they didn’t have much information & would write to shareholders once they received the Calidus shares, so I was relieved to get a positive answer last month!

Hi Chesh. This is my reply from HL just last month - “Thank you for your email. At the moment we hold Keras Resources shares in CREST (The UK settlement system), once we receive the new Calidus shares, as they are an Australian stock we have to hold these in our global custodian account with HSBC. We will be able to hold the shares in your ISA or SIPP if you wish, there are no regulations stopping this.

Please note, however, that we will receive our Calidus holding via paper statement so there may be a delay in releasing the new shares to clients depending on when we receive the paper statement.

Lastly, with the shares being held in HSBC, there are additional charges for trading and holding the stock which we will go into further detail in our later correspondence.”

Keras website shows HL (Nominees) Ltd hold 4.96% of Keras shares, that’s 113,484,102, on behalf of PI’s so there will be demand! All the best! T

RNS said “ Keras has the ability to distribute up to £15 million of reserves, which provides for an additional circa 29% increase in the current Calidus share price” so £15m not $15m. No mention of what happens in the event the value of Keras held Calidus shares were to rise above that threshold. The value would still be “ours” as a Keras asset. Is the Calidus share value used in the distribution as at publication of PFS / as at date of general meeting passing resolution to distribute them / as at date court approves the distribution / as at date of distribution? GLA!

That’s how I read it SBK.

I think not Chesh “Keras currently intends to demerge the Ordinary Shares to its shareholders in proportion to their holdings in the Company.” & Dave back in April said in an email that it would be as shares, there was no cash to distribute.

Thanks Chesh, well spotted! They were shares I had left to me. But why the ex on Nex.....who knows, but I’m not complaining!

Can’t see a connection there. Last 2 nights in Oz Calidus shares have risen 10% & 9% until trading paused. If the shares coming out of escrow were the limelight I think that rise would not have been. More like Calidus presented recently at the RRStars conference & did interviews promising announcements soon! People are catching on! It honestly looks like the halt is to provide response to a price query from ASX, but whether they have an announcement in the offing too, who can say? All will be revealed soon enough as PFS time approaches. GLA

Further to my previous post about confirmation that the in specie distribution will be in Calidus shares, I have also had a recent update from Hargreaves Lansdown which I thought I’d share for other HL investors here - they will hold the Calidus shares in their global custodian account at HSBC, and it will be possible for us to hold them in ISA & SIPP accounts. Further details re future charges for the service will follow from them.

We had an email back from Dave on this subject in April, when we were querying the in specie distribution process, and he assured us it would be a distribution of Calidus. He added that they are dealing with Australian and UK tax law and it is a very involved transaction to say the least to ensure shares are distributed in a tax efficient manner! And once they’ve finalised their work they will make an announcement.

They must have read my comment - up 8.97% on HL now. Come on, catch up LSE!
That’s more like it!