Keras Resources - KRS Stream Log

Northland's note frm research tree: "LBT increased to £1,052k in H116 from £659k in H115, due to an increase in administrative costs and finance costs associated with the transition from a development company to a mining company. Net debt increased to £2,235k in H116 from £261k in H115. Post-period end completed £1,250,000 equity placing. Keras Resources interim result reflects the Company’s transition from developer to miner. The Company began to haul ore to the Paddington Mill in early-April, after the period covered by the interim results, and as a result, no revenues were received in these results. The next set of results from Keras will reflect that the Company has moved into generating cash flow."

Another note out from Beaufort (free to view): "This is positive news for Keras giving the company access to additional resources that can be extracted easily and converted into near term cash flow assuming positive grade control results and final approval of the Project Management Plan by the Department of Mines. We look forward to further updates as Keras continues to grow its inventory of low cost gold deposits." on Research Tree

New note out on Keras by Northland Capital on Research Tree: "Keras Resources has secured an additional tribute agreement from Paddington Gold, a subsidiary of Norton Gold Fields, to mine the Royal Standard North lease area, located 20km south Keras’ current mining activities at the Grants Patch lease area... A positive expansion for Keras Resources that gives the Company an additional mining area with near surface gold ore that can be rapidly extracted and turned into cash flow. The location of the project means it already has a Mining Lease and Mining proposal in place and will only require final approval of the project management by the Department of Mines."

Northland's note is up on Research Tree "Keras Resources has received the first payment for the gold ore processed at the Paddington Mill. Keras Resources has received the payment is for ore extracted from the Anomaly 22 deposit, located on the Grants Patch Gold Tribute lease area...."

Read Northland Capital Partners's view on Keras Resources. It's available on Research Tree: "A positive development for Keras Resources that results in the brining forward of the payments due to Keras. Previously, Keras was due to be paid 42 days after all laboratory test work on moisture content, recoveries and grade was completed. This was a significant amount of time for valuable working capital to be tied up and could have delayed work at Keras’ other projects. Following this latest agreement, Keras will receive the pre-payment once the ore has been processed through the mobile plant and a provisional gold determination statement has been prepared. The payment will..."

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