Member Info for welloilbeefooked

Hi Oiltap - A word of caution - You'll probably accuse me of raining on your parade but I'm a LTH of JLP -another of Colin Bird's babies. Check out that board and you won't find many people happy with him, and it's a similar story with Galileo (GLR) so he's got a pretty chequered past

I'd go along with that - more likely certification is already in place and we're gearing up for full steam ahead.

So we've priced in a placing on tittle tattle - great, that means when the placing comes the share price won't move.... lol Got to love AIM

Morning Costello - cheer up, you're wrong ! In this morning's RNS DR has announced the in-specie distribution of Calidus shares - have a look at the page 27 of the latest presentation to see the distribution value you can expect per KRS share - http://www.kerasplc.com/documents/KerasInvestorPresentation22.11.17_000.pdf What we need now is patience - they can distribute once out of the escrow period - that's assuming CAI isn't bought over before then which I think is very likely given the way they're proving up reserves. http://www.kerasplc.com/documents/KerasInvestorPresentation22.11.17_000.pdf

Keras currently holds a 217.25m shares in Calidus, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. It is the intention of Keras to in-specie distribute these shares to Keras shareholders at the appropriate time when this is achieved. gla

Hi MrP, I agree completely with you - I'm just looking at what I believe would be a minimum reasonable value for KRS given that DR said at the presentation that the performance shares will definitely be issued. So the resource upgrade appears to be a shoo in :)

gmcc - i understand your interpretation now - i suppose I'm looking at it from the point of view of how many CAI shares KRS will own as a percentage of total CAI shares. If DR is to be believed ( and I believe him) we'll own 724m out of a total of 1555m - that's about 47% . At 4c a share that's .47 x 4 x .58 conversion = 1.09p - double that at 8c Basically, this time next year Rodney..... :)

Thanks gmcc - again you're spot on, so the calculations on that table are meaningless at best - used KRS shares in issue insted of CAI - pretty basic error.

Interesting gmcc - so the options are priced at an average of 2.44c not far off 3 times the current KRS price. You'd have to hope any further dilution will only lead to a leveraged increase in assets and shareholder value, no point otherwise. My personal view is that CAI will get taken out in the next couple of years so interesting times ahead. Also, a previous poster mentioned that DR would expect arbitrage to start kicking in if we don't see a significant rerate in the KRS sp after the award of the performance shares. That makes sense to me - if I'm sitting in Australia looking at buying CAI shares at a price somewhere between 4-8c, why not buy the deeply undervalued KRS shares who own around 48% of CAI anyway ? So demand for KRS shares should rocket and some form of pro rata parity gets achieved.

Morning MrP -Many thanks for the clarification. By my calculations now, the table in the presentation is therefore completely wrong. It's on page 27 of the report http://www.kerasplc.com/documents/KerasInvestorPresentation22.11.17_000.pdf At a Calidus price of 4c, the KRS value should be 742m/1555m x 4c x.58 to convert to sterling gives 1.28p not 0.74p - again happy for people to explain any gaffes I'm making. Remember folks, DR has said the performance shares are a given - that means the JORC figures are shortly going to rocket and Calidus share price should do likewise. AIMHO

I think you're spot on MP. One thing I noticed during the podcast is Dave talking about KRS ending up with 48% of CAI but the figures used in the table at the bottom of the presentation (724m of 2260m in total) only equates to 32% - I'm obviously missing something

Chesh - haven't listened yet but going to now - https://audioboom.com/posts/6512905-932-keras-resources-krs-challenger-acquisitions-chal-rainbow-rare-eaths-rbw

Hi gmcc - i think you can forget the .022p figure as that is based on our current holding. Given that DR has already stated that the performance shares are a certainty, we should look at the bottom line of that table. Calidus is showing today at 4.6c so converting that using 723m as a percentage of 2260m gives us 0.85p - ie double our current SP. Also, the Calidus price is set to rocket as they prove up more resources and it may well be the case that the dilution is already priced in over there too - anyway you look at it we are way undervalued.

It's all really positive for sure - also, from the company prsentation under the heading "regional upside" we have this : Marble Bar Goldfield Produced 170,000oz from 196,500t, - no modern exploration 35 recorded old workings on tenement � all less than 30m deep There are over 28g in an oz ! And we're practically sitting on top of Marble Bar

Thanks Schoolboy - much appreciated.

Anyone here going along - would be great to get some feedback for those of us who can't make it. I think it could be eye opening...

Morning Axebob, To see our gold nuggets at surface, there's a description of them on page 4 of this announcement and an image on page 5. http://www.asx.com.au/asxpdf/20171123/pdf/43phc24rf86w3n.pdf GLA

Morning all, Be interested to see the market reaction later - check out page 4 - http://www.asx.com.au/asxpdf/20171123/pdf/43phc24rf86w3n.pdf

people often ask me about the name - you just need to say it quickly in an Irish accent...

You're welcome Apple - thanks for all the work you're putting in. I'm otherwise engaged or I'd post more often but I've been in for a long time now. Still underwater, but no concerns long term. This has multibagger all over it - again imho.