Kryso Resources plc (AIM: KYS) is a gold exploration and development company
that is advancing its Pakrut gold project in Tajikistan. It is trading on the London AIM stock exchange.
Market cap is around 12, 5 mio. pound at current shre price of 10 pence - i.e 20 mio dollars or 100 mio. danish kroner.
Kryso is developing a bankable feasibility study (BFS)to secure the financing for the Pakrut project. Chineese companeis are helping with that. Chian is very active in Tajikistan.
The paln to construct a mine with capacity of 100,000 ounces godl produced per year at a cash cost of 300 dollar. With the current gold price this should gross about (1120-300)*100,000 =80 mio. dollars in profit. godl price is probably going higher in the long run.
The reserves have just been increased and more likely to follow. Fox-davies has a short term target of 25 pence and I think it wil be much higher in the lkonger run.
Company Kryso Resources PLC
TIDM KYS
Headline Pakrut Update
Released 07:00 17-Nov-2009
Number 91642-9E5C
17 November 2009
Kryso Resources plc
(`Kryso' or `the Company')
Pakrut Gold Project Resource Update Increases Total JORC Resources to 2,830,104 oz Au
- Increase of approximately 43% in Pakrut's total JORC Code-compliant resources
- Further increase expected once all results from 2009 drilling are incorporated
- Measured & Indicated resources increased by 165,751 oz Au
Kryso Resources plc (AIM: KYS), the gold exploration and development company
that is advancing its Pakrut gold project in Tajikistan through a bankable
feasibility study (BFS), is pleased to announce that GeoLogix Mineral Resource
Consultants (Pty) Ltd (GeoLogix) has completed an updated JORC Code-compliant
resource estimate for Pakrut.
Pakrut Gold Project - JORC Code-Compliant Resource Summary
Total
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 36,029,076 2.44 2,830,104
1.0 32,119,081 2.64 2,725,368
3.0 8,391,870 5.08 1,369,482
Measured
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 11,152,663 2.62 940,745
1.0 9,997,240 2.83 909,802
3.0 2,665,946 5.56 476,847
Indicated
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 5,838,129 2.09 392,795
1.0 4,799,435 2.37 365,199
3.0 861,179 5.23 144,765
Measured + Indicated
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 16,990,792 2.44 1,333,539
1.0 14,796,675 2.68 1,275,000
3.0 3,527,126 5.48 621,613
Inferred
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 19,038,283 2.45 1,496,564
1.0 17,322,406 2.60 1,450,367
3.0 4,864,744 4.78 747,869
Dr. Trevor Davenport, Non-Executive Chairman and acting Managing Director of
Kryso, comments:
`I am very pleased to see such a major increase in Pakrut's total JORC
Code-compliant resources, and we expect to achieve a further increase in the
first half of next year following the incorporation of additional results from
this year's drilling into the resource.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in
Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 2,830,104 oz Au
(assuming a cut-off grade of 0.5g/t Au) and is located within the Tien Shan
gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and
western China, and which hosts a number of multi-million ounce gold deposits.
Drilling at Pakrut has previously returned numerous exciting intersections,
including 123.7m at 6.14g/t Au, 42m at 11.17g/t Au and 50m at 5.67g/t Au.
A bankable feasibility study for the Pakrut project is currently being
undertaken by the Beijing General Research Institute of Mining & Metallurgy.
The bankable feasibility study is targeted for completion before the end of
2009.
An internal prefeasibility study completed in 2008 envisaged a mining operation
at Pakrut producing in excess of 100,000oz Au per annum with cash costs of
approximately US$300/oz Au.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a
member of the Commonwealth of Independent States (CIS) and the Shanghai
Cooperation Organisation. Tajikistan hosts numerous operating precious metal
mines as well as the largest aluminium smelter in Central Asia. Kryso's
management team has extensive experience in the mining industry in Tajikistan.
For further information please visit the Company's website (www.kryso.com) or
contact:
Dr. Trevor Davenport/Craig Brown, Kryso Resources plc
Tel: +44 (0) 20 7371 0600
Gavin Burnell, Astaire Securities plc
Tel: +44 (0) 20 7448 4400
Christian Dennis, Orbis Equity Partners Ltd
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fo
avies Capital Ltd
Tel: +44 (0) 20 7936 5200
Notes
The Mineral Resource, as defined by the 2004 Edition of the Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the
JORC Code), estimated by GeoLogix has been tabulated above block model cut-offs
of 0.5g/t Au, 1.0g/t Au and 3.0g/t Au. The resource has been classified as
Measured, Indicated and Inferred according to the JORC Code and is based on
mineralization interpretations and data supplied by Kryso.
The data used for the resource estimation is comprised of diamond drilling,
surface trenching and channel sampling. GeoLogix has reviewed the drilling and
sampling data underlying the resource estimate and can verify that the data is
of sufficient quality to support the resource classifications applied.
The ordinary kriging and inverse distance cubed estimators were used to
estimate gold grade into a wire-framed volume model filled with orthogonal
blocks reflecting the interpreted geology. Where appropriate, grade capping was
applied prior to estimation. Search ellipses and ranges used in the estimation
reflect the spatial continuity and the mineralization trends of each of the
four mineralized domains.
GeoLogix has based the resource classification upon a number of criteria,
including the geological confidence, the integrity of the data, the spatial
continuity of the mineralization as demonstrated by variography, and the
quality of the estimation. The parts of the resource that were estimated by
utilizing half the distance of the variogram range, above 400m below surface
and estimated with a minumum of 10 samples have been classified as Measured.
The parts of the resource model that were estimated up to the distance of the
variogram range, above 400m below surface and estimated with a minimum of 5
samples have been classified as Indicated. All other areas of the resource and
in some cases where the data density is deemed too low have been classified as
Inferred Resources. An average in situ density of 2.57 t/m3 has been applied to
the oxidized zone of the mineralization and 2.62 t/m3 has been applied to the
fresh zones of the mineralization. The in situ density values reflect the
average value of the determinations made from the diamond core collected by
Kryso.
The information in this report that relates to Mineral Resources as defined
under the JORC Code is based on information compiled by Mr Deon van der Heever,
Mr Dave Briggs and Dr. Trevor Davenport.
Mr Deon van der Heever (Pr.Sci.Nat) is the Executive Director of GeoLogix and
produced the resource estimate based upon the interpretations provided by
Kryso. Mr Van der Heever has sufficient experience relevant to the type of
deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined under the JORC Code. Mr Van der Heever
consents to the inclusion in this report of the matters based on his
information in the form and context in which it appears.
Mr Dave Briggs (Pr.Sci.Nat) is a Director of GeoLogix and contributed in
producing the resource estimate based upon the interpretations provided by
Kryso. Mr Briggs has sufficient experience relevant to the type of deposit
under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined under the JORC Code. Mr Briggs consents to the
inclusion in this report of the matters based on his information in the form
and context in which it appears.
Dr. Trevor Davenport (B.Sc, M.Sc, Ph.D, MIMM, C.Eng) is Non-Executive Chairman
and acting Managing Director of Kryso Resources plc and provided geological
interpretations and the drillhole and trench database for Mineral Resource
estimation. Dr. Davenport has sufficient experience relevant to the style of
mineralization and type of deposit under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined under the
JORC Code. Dr. Davenport consents to the inclusion in this report of the
matters based on his information in the form and context in which it appears.
Glossary
Au - The chemical symbol for gold.
Bankable feasibility study - A study of the economic viability of the mining
and production of base or precious metals or other minerals in such form and
containing such detail as is customarily required by a bank or other financial
institution engaged in mining project finance to enable it to determine whether
to finance the development of a commercial mining operation.
Cut-off grade - The grade used to separate ore and waste such that only
material classified as ore will be treated in order to recover the economic
metal or mineral of interest.
Grade g/t - Grams per tonne.
Jack-Knifing Analysis - A general non-parametric method for estimation of the
bias and variance of a statistic using only the sample itself.
JORC Code - The 2004 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves.
Kriging - A statistical technique used with variograms, or two-point
statistical functions that describe the increasing difference or decreasing
correlation between sample values as separation between them increases, to
determine the value of a point in a heterogeneous grid from known values
nearby.
m - Metre.
oz - Troy ounce.
Resource - An estimated tonnage and grade of mineralisation in the ground.
t - Metric tonne.
Variogram - A two-point statistical function that describes the increasing
difference or decreasing correlation or continuity between sample values as
separation between them increases.
END
http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=GB00B03WBP45GBGBXAIM
feasibility study (BFS)
that is advancing its Pakrut gold project in Tajikistan. It is trading on the London AIM stock exchange.
Market cap is around 12, 5 mio. pound at current shre price of 10 pence - i.e 20 mio dollars or 100 mio. danish kroner.
Kryso is developing a bankable feasibility study (BFS)to secure the financing for the Pakrut project. Chineese companeis are helping with that. Chian is very active in Tajikistan.
The paln to construct a mine with capacity of 100,000 ounces godl produced per year at a cash cost of 300 dollar. With the current gold price this should gross about (1120-300)*100,000 =80 mio. dollars in profit. godl price is probably going higher in the long run.
The reserves have just been increased and more likely to follow. Fox-davies has a short term target of 25 pence and I think it wil be much higher in the lkonger run.
Company Kryso Resources PLC
TIDM KYS
Headline Pakrut Update
Released 07:00 17-Nov-2009
Number 91642-9E5C
17 November 2009
Kryso Resources plc
(`Kryso' or `the Company')
Pakrut Gold Project Resource Update Increases Total JORC Resources to 2,830,104 oz Au
- Increase of approximately 43% in Pakrut's total JORC Code-compliant resources
- Further increase expected once all results from 2009 drilling are incorporated
- Measured & Indicated resources increased by 165,751 oz Au
Kryso Resources plc (AIM: KYS), the gold exploration and development company
that is advancing its Pakrut gold project in Tajikistan through a bankable
feasibility study (BFS), is pleased to announce that GeoLogix Mineral Resource
Consultants (Pty) Ltd (GeoLogix) has completed an updated JORC Code-compliant
resource estimate for Pakrut.
Pakrut Gold Project - JORC Code-Compliant Resource Summary
Total
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 36,029,076 2.44 2,830,104
1.0 32,119,081 2.64 2,725,368
3.0 8,391,870 5.08 1,369,482
Measured
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 11,152,663 2.62 940,745
1.0 9,997,240 2.83 909,802
3.0 2,665,946 5.56 476,847
Indicated
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 5,838,129 2.09 392,795
1.0 4,799,435 2.37 365,199
3.0 861,179 5.23 144,765
Measured + Indicated
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 16,990,792 2.44 1,333,539
1.0 14,796,675 2.68 1,275,000
3.0 3,527,126 5.48 621,613
Inferred
Cut-off Tonnes Au Au
(Au g/t) (metric) (g/t) (oz)
0.5 19,038,283 2.45 1,496,564
1.0 17,322,406 2.60 1,450,367
3.0 4,864,744 4.78 747,869
Dr. Trevor Davenport, Non-Executive Chairman and acting Managing Director of
Kryso, comments:
`I am very pleased to see such a major increase in Pakrut's total JORC
Code-compliant resources, and we expect to achieve a further increase in the
first half of next year following the incorporation of additional results from
this year's drilling into the resource.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in
Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 2,830,104 oz Au
(assuming a cut-off grade of 0.5g/t Au) and is located within the Tien Shan
gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and
western China, and which hosts a number of multi-million ounce gold deposits.
Drilling at Pakrut has previously returned numerous exciting intersections,
including 123.7m at 6.14g/t Au, 42m at 11.17g/t Au and 50m at 5.67g/t Au.
A bankable feasibility study for the Pakrut project is currently being
undertaken by the Beijing General Research Institute of Mining & Metallurgy.
The bankable feasibility study is targeted for completion before the end of
2009.
An internal prefeasibility study completed in 2008 envisaged a mining operation
at Pakrut producing in excess of 100,000oz Au per annum with cash costs of
approximately US$300/oz Au.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a
member of the Commonwealth of Independent States (CIS) and the Shanghai
Cooperation Organisation. Tajikistan hosts numerous operating precious metal
mines as well as the largest aluminium smelter in Central Asia. Kryso's
management team has extensive experience in the mining industry in Tajikistan.
For further information please visit the Company's website (www.kryso.com) or
contact:
Dr. Trevor Davenport/Craig Brown, Kryso Resources plc
Tel: +44 (0) 20 7371 0600
Gavin Burnell, Astaire Securities plc
Tel: +44 (0) 20 7448 4400
Christian Dennis, Orbis Equity Partners Ltd
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fo
avies Capital LtdTel: +44 (0) 20 7936 5200
Notes
The Mineral Resource, as defined by the 2004 Edition of the Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the
JORC Code), estimated by GeoLogix has been tabulated above block model cut-offs
of 0.5g/t Au, 1.0g/t Au and 3.0g/t Au. The resource has been classified as
Measured, Indicated and Inferred according to the JORC Code and is based on
mineralization interpretations and data supplied by Kryso.
The data used for the resource estimation is comprised of diamond drilling,
surface trenching and channel sampling. GeoLogix has reviewed the drilling and
sampling data underlying the resource estimate and can verify that the data is
of sufficient quality to support the resource classifications applied.
The ordinary kriging and inverse distance cubed estimators were used to
estimate gold grade into a wire-framed volume model filled with orthogonal
blocks reflecting the interpreted geology. Where appropriate, grade capping was
applied prior to estimation. Search ellipses and ranges used in the estimation
reflect the spatial continuity and the mineralization trends of each of the
four mineralized domains.
GeoLogix has based the resource classification upon a number of criteria,
including the geological confidence, the integrity of the data, the spatial
continuity of the mineralization as demonstrated by variography, and the
quality of the estimation. The parts of the resource that were estimated by
utilizing half the distance of the variogram range, above 400m below surface
and estimated with a minumum of 10 samples have been classified as Measured.
The parts of the resource model that were estimated up to the distance of the
variogram range, above 400m below surface and estimated with a minimum of 5
samples have been classified as Indicated. All other areas of the resource and
in some cases where the data density is deemed too low have been classified as
Inferred Resources. An average in situ density of 2.57 t/m3 has been applied to
the oxidized zone of the mineralization and 2.62 t/m3 has been applied to the
fresh zones of the mineralization. The in situ density values reflect the
average value of the determinations made from the diamond core collected by
Kryso.
The information in this report that relates to Mineral Resources as defined
under the JORC Code is based on information compiled by Mr Deon van der Heever,
Mr Dave Briggs and Dr. Trevor Davenport.
Mr Deon van der Heever (Pr.Sci.Nat) is the Executive Director of GeoLogix and
produced the resource estimate based upon the interpretations provided by
Kryso. Mr Van der Heever has sufficient experience relevant to the type of
deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined under the JORC Code. Mr Van der Heever
consents to the inclusion in this report of the matters based on his
information in the form and context in which it appears.
Mr Dave Briggs (Pr.Sci.Nat) is a Director of GeoLogix and contributed in
producing the resource estimate based upon the interpretations provided by
Kryso. Mr Briggs has sufficient experience relevant to the type of deposit
under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined under the JORC Code. Mr Briggs consents to the
inclusion in this report of the matters based on his information in the form
and context in which it appears.
Dr. Trevor Davenport (B.Sc, M.Sc, Ph.D, MIMM, C.Eng) is Non-Executive Chairman
and acting Managing Director of Kryso Resources plc and provided geological
interpretations and the drillhole and trench database for Mineral Resource
estimation. Dr. Davenport has sufficient experience relevant to the style of
mineralization and type of deposit under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined under the
JORC Code. Dr. Davenport consents to the inclusion in this report of the
matters based on his information in the form and context in which it appears.
Glossary
Au - The chemical symbol for gold.
Bankable feasibility study - A study of the economic viability of the mining
and production of base or precious metals or other minerals in such form and
containing such detail as is customarily required by a bank or other financial
institution engaged in mining project finance to enable it to determine whether
to finance the development of a commercial mining operation.
Cut-off grade - The grade used to separate ore and waste such that only
material classified as ore will be treated in order to recover the economic
metal or mineral of interest.
Grade g/t - Grams per tonne.
Jack-Knifing Analysis - A general non-parametric method for estimation of the
bias and variance of a statistic using only the sample itself.
JORC Code - The 2004 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves.
Kriging - A statistical technique used with variograms, or two-point
statistical functions that describe the increasing difference or decreasing
correlation between sample values as separation between them increases, to
determine the value of a point in a heterogeneous grid from known values
nearby.
m - Metre.
oz - Troy ounce.
Resource - An estimated tonnage and grade of mineralisation in the ground.
t - Metric tonne.
Variogram - A two-point statistical function that describes the increasing
difference or decreasing correlation or continuity between sample values as
separation between them increases.
END
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feasibility study (BFS)
18/11 2009 14:02 Gekko 0
22194 Hovedparten af feasibility study (80%) har så vidt jeg kan se guldindhold på mellem 0,5 og 1,0 gram/ton..... Det er lavt og især hvis der er tale om vanskelligt terræn og politisk ustabilt område.
For at jeg skulle fristes til at putte penge i Tajikistan, så skulle vi op på over 3,0 gram/ton i gennemsnit, selv med den nuværende høje guldpris....
For at jeg skulle fristes til at putte penge i Tajikistan, så skulle vi op på over 3,0 gram/ton i gennemsnit, selv med den nuværende høje guldpris....
men går det investeringsmæssigt så ikke lige op?
http://www.marketwatch.com/story/gold-futures-soar-to-record-as-dollar-drops-2009-11-18?siteid=rss&rss=1
http://www.marketwatch.com/story/gold-futures-soar-to-record-as-dollar-drops-2009-11-18?siteid=rss&rss=1
Comment
The incorporation of the latest drill results into the JORC ore resources has had some interesting results. In the measured category, at both the 0.5 and 1g/t cutoff grades, total ounces have increased, albeit at a lower grade. However, at the 3g/t cut off grade, the total measured resource has decreased by 43k oz to 477koz with a grade of 5.56g/t.
The largest increase in ounces has come in he inferred category, where at the 0.5g/t cut-off total ounces have increased from 571k to 1,496k with an increase in average grade to 2.45g/t, previously 2.23g/t.
A further increase in gold resources is expected once all the results from the 2009 drilling programme are incorporated.
Foavies has looked at the latest resource figures and put a value of $40/oz onthe measured ounces, $20/oz on the indicated ounces and $10/oz on the inferred ounces. Using only the 3g/t cut-off grades gives a valuation of £17.6M which compares very favourably with the current market capitalisation of £13.35M.
http://www.fox-davies.com/media/94260/krysoresourcesflashnote17november2009.pdf
Tajikistan har såvidt jeg ved ikke givet udnelandske investorer nogen problemer overhovedet.
The incorporation of the latest drill results into the JORC ore resources has had some interesting results. In the measured category, at both the 0.5 and 1g/t cutoff grades, total ounces have increased, albeit at a lower grade. However, at the 3g/t cut off grade, the total measured resource has decreased by 43k oz to 477koz with a grade of 5.56g/t.
The largest increase in ounces has come in he inferred category, where at the 0.5g/t cut-off total ounces have increased from 571k to 1,496k with an increase in average grade to 2.45g/t, previously 2.23g/t.
A further increase in gold resources is expected once all the results from the 2009 drilling programme are incorporated.
Fo
avies has looked at the latest resource figures and put a value of $40/oz onthe measured ounces, $20/oz on the indicated ounces and $10/oz on the inferred ounces. Using only the 3g/t cut-off grades gives a valuation of £17.6M which compares very favourably with the current market capitalisation of £13.35M. http://www.fox-davies.com/media/94260/krysoresourcesflashnote17november2009.pdf
Tajikistan har såvidt jeg ved ikke givet udnelandske investorer nogen problemer overhovedet.
Så lukkede vi i 12 pence. Den har været oppe at vende i 12,20 idag og nede i 10,63. Man skalnok have tålmodighed og den er risikabel (hvad bliver udfaldet af bank feasibility studiet og kan de låne penge på dette studie til at bygge minen?)
http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=GB00B03WBP45GBGBXAIM
http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=GB00B03WBP45GBGBXAIM
1/12 2009 16:37 butterboy 022917 pump up the jam, pump it up. Last trade in 14 pence. I am not recommending what to do now.
10/1 2010 00:42 butterboy 024323 http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_Jan_10/Mining%20Corner%20January%202010.pdf
Kryso Resources* (AIM: KYS), mkt cap of £17m.
Its Pakrut Gold project based in Tajikistan contains
2.83Moz JORC compliant resources. Previously
touted as an open pit proposition, following a recent
site visit, we believe that the potential of this stock is
seriously misunderstood by the market. It appears
that Zones 1 and 2 are opening up at depth as well
as increasingly materially in grade. Together with
the nearby prospective Zone 7, this deposit clearly
has the potential to be a large tonnage, relatively
modest-grade, low-cost underground operation,
with the potential to double existing resources.
Kryso Resources* (AIM: KYS), mkt cap of £17m.
Its Pakrut Gold project based in Tajikistan contains
2.83Moz JORC compliant resources. Previously
touted as an open pit proposition, following a recent
site visit, we believe that the potential of this stock is
seriously misunderstood by the market. It appears
that Zones 1 and 2 are opening up at depth as well
as increasingly materially in grade. Together with
the nearby prospective Zone 7, this deposit clearly
has the potential to be a large tonnage, relatively
modest-grade, low-cost underground operation,
with the potential to double existing resources.
29/1 2010 23:10 butterboy 025193 Foavies ups Kryso Resources target price to £0.28
http://www.proactiveinvestors.co.uk/companies/news/12301/fox-davies-ups-kryso-resources-target-price-to-028-12301.html
avies ups Kryso Resources target price to £0.28http://www.proactiveinvestors.co.uk/companies/news/12301/fox-davies-ups-kryso-resources-target-price-to-028-12301.html
