Kryso is an emerging mineral exploration company that is principally focussed on exploring the gold and other precious metals deposits previously discovered in Central Asia during the Soviet Union era and then, where appropriate, bringing them into production.
Kryso, which has its head office in London, is a public company that was admitted to the AIM in December 2004 in order to continue funding the development of the Pakrut Gold Deposit, further explore the Pakrut Licence Area and to obtain and acquire other gold and base metal deposits in Tajikistan and elsewhere in Central Asia. The Group's executive directors and senior management are based in Dushanbe.

The Company's executive directors have a proven track record of operating in Tajikistan and they believe that Kryso Resources is the first foreign company to obtain a 100% interest in a mining and exploration project in the country.

From 1 April 2004, LLC Pakrut, a wholly owned subsidiary of the Company, was granted a licence and geological lease to explore and exploit the Pakrut Licence Area which comprises the Pakrut gold deposit and the surrounding 6,300 hectare exploration area located in the metalliferous southern Tien-Shan Fold Belt. This belt is reputed to have the second largest known gold resource after the Witwatersrand in South Africa.

The Group intends to conduct a feasibility study to assess whether the Pakrut gold deposit can be developed into a producing mine and also intends to explore the already identified mineral deposits and areas of mineralization in the Pakrut Licence Area.

From UK-Analyst.com: Tuesday 22nd June 2010



Shares in mineral exploration company, Kryso Resources* (KYS) jumped 1.25p to 15.25p following its entry into an exclusivity agreement with an unnamed Chinese mining company. This agreement allows exclusive discussions to take place with regard to a potential investment in the company. Kryso added that there can be no guarantee that the potential investor will make an investment in the company.

Nice start this morning , 15 bid 15.50 offer ....... now 15.25. Lot's of interest in these now.

http://moneyam.uk-wire.com/cgi-bin/articles/20100628070000P1BF3.html

More good news ......... moving up again

And not so good ?

http://moneyam.uk-wire.com/cgi-bin/articles/20100629070505P1602.html

July 07, 2010

Kryso Resources Must Know That Its Days As An Independent Company Are Drawing To A Close
By Charles Wyatt



There is something going on at Kryso Resources, no doubt about that, but it is not so easy to pin down exactly what it is. Early in June the share price rocketed from 5p to 16p and it has since steadied at around the 14p mark. During that time the company has admitted that its bankable feasibility study on the Pakrut project in Tajikistan is running a few weeks late, but no one seems to have taken much notice. The annual results at the beginning of June would not have raised shareholders blood pressure, as they merely contained a resume of progress at Pakrut in terms of exploration, resource estimates and the study. At the time, the point was made that Pakrut is now viewed as a combined open pit/ underground mining operation, as the economics look better, but that was not exactly hot news. The company also reported that activities at its Hukas nickel-copper-cobalt-PGM project were on hold while strategic alternatives were considered, but that was not news either.
What should never be overlooked in such circumstances is the impact of changes at the top. Gennady Tolmachev has resigned as a director, as Vertex Mining, which he represented, no longer had a notifiable holding in Kryso. Steve Poulton of Altus Resource Capital took his place. Altus is now one of Krysos biggest shareholders, and Steve has a good nose for searching out an undervalued situation. Back in 2002 Steve co-founded Ariana Resources, a gold explorer in Turkey and was chief executive from 2004 to 2007. In 2004 he founded African Aura Resources which listed in Canada in 2008 and subsequently merged with Mano River to create African Aura Mining. Also rolling out of the same stable, Stellar Diamonds was a successful spin-off, and Steve is also a director of Stellar. A busy man, but one who knows that he will be judged by the performance of Altus Resource Capital, the closed ended fund incorporated in Guernsey for which he raised 26 million in the difficult days in the middle of 2009.

Last September Altus invested 500,000 in Kryso through a placement at 5p per share. This got it 10 million shares and 20 million warrants exercisable at 8p, warrants which are well in the money. Good timing, but it still doesnt answer the question as to what has sent the shares into orbit. Tajikistan, lets face it, is not exactly top of anyones wish list as a country in which to operate. It is a landlocked country dominated by mountains and bordered by Afghanistan, Uzbekistan, Kyrgyzstan, and China. On the positive side it contains a biggish slice of the Tien Shan gold belt which hosts a number of big gold deposits, in Tajikistan and in neighbouring countries. Krysos Pakrut project is about 112 kilometres north of the Tajik capital city of Dushanbe. The government is said to be friendly towards mining.

The scene is now set and it is time to look at the events that took place in June when the shares took off. First of all Great Basin Gold sold its big block of shares and Great Basin chief Ferdi Dippenaar came off the board. Great Basins shares were snapped up by an ASX and Aim listed company called Natasa Mining, and two of its directors, Chris Kyriakou, of Toledo Mining renown, and Jonathan Reynolds wanted to become directors. Unfortunately they seem to have applied after the time limit for the proposal of AGM resolutions had expired, so nothing has come of it, yet.

However, Steve Poulton failed to get the votes necessary to be re-elected to the board at this same AGM, and this was no accident. Someone with a hefty block of shares Natasa has 15.1 per cent did not want him there. Steves lips remained firmly sealed when he was contacted by Minews, but he did say that he still had confidence in the company. Some warrants were exercised a couple of days ago, so perhaps Altus is jacking up its own voting power.

Just before all these shenanigans took place, what was described as a major mainland Chinese mining company was given an exclusivity period to do some due diligence prior to making an investment in Kryso. Time ran out and nothing came of it, but the shares did not react to the news at all, which in itself is rather unusual. Clearly no one thought that the departure of the Chinese amounted to a criticism of Pakrut, which looks to be an excellent project. In recent weeks a hefty uplift has been announced to the JORC resource estimate there. This now stands at just over three million ounces. That total is derived from 46.38 million tonnes grading 2.03 grammes per tonne gold, with silver credits thrown in, just over half of which has been booked in the measured and indicated categories. This data will be included in the bankable feasibility study, and a further increase is expected once the results from drilling this year are collated. Whats more, there are three additional mineralized systems within five kilometres of the main Pakrut gold deposit. These are the Eastern Pakrut gold deposit, the Sulfidnoye gold and silver prospect, and the Rufigar prospect.

An internal pre-feasibility study carried out around a considerably smaller resource base came up with some pretty favourable results. The start-up capital requirement for a combined open pit and underground operation was calculated at US$65 million. The proposed operation assumed throughput of 1.46 million tonnes per year producing 100,000 ounces as an annual average, over a minimum of six years. The average cost of production was predicted at US$291 per ounce, and overall the project offered an internal rate of return on a 10 per cent discount of 67 per cent, and showed a net present value of US$115 million. Tasty figures, especially when it is clear that they will be left well behind in the current bankable study thats being carried out by Beijing General Research Institute of Mining and Metallurgy.

As the company still has no managing director it is a slightly vulnerable position if Natasa makes a move. It proved impossible to get hold of Craig Brown who is now acting managing director and finance director, and Trevor Davenport, the chairman, as both were flying to Tajikistan. They are probably not in a position to make any comment, and will know that Chris Kyriakou is a tough egg and would not take such a stake unless he had plans for Kryso. Natasa Mining is recognised as his vehicle and it has already acquired an 85 per cent interest in Vostock Mining which has the rights to two gold exploration properties in central-eastern Kazakhstan. Not that far from Pakrut, one might surmise, so another reason why Chris Kyriakou might want control of Kryso falls into place. The betting now has to be that there will not be a long wait before he makes his next move. Maybe he can pick up the Altus block. After all, shares are for buying and selling, not for falling in love with.

16/7/2010 Natasa Mining.

Kryso Resources plc

As announced to the AIM market in June 2010, the Company has acquired a 20% equity interest in Kryso Resources plc, an AIM listed company with ownership of the Pakrut gold deposit in Tajikistan.



Discussions have been held, and are continuing, with the Board of Kryso re Natasa's investment in that company

EK...

"Finally, Kryso (KYS) has today announced its transformation with the formal emergence of ChinaNonFerrous as the largest shareholder by some margin and with the financing of Pakrut arranged to all intents and purposes. This is the company maker and values Kryso now at well north of 20p. Investors have forgotten that Kryso also includes Rufigar and Sulfidnoye - perhaps another 7m ounces.

The sequence will be that in a few weeks' time ChinaNonFerrous will take up the new shares arising from the warrants and be compelled to bid 21p per share at least for the entire company. They will do this at the same time as they raise the finance for Pakrut. Keep buying."

July 29, 2010

Kryso Secures Heavyweight Chinese Backing For The Development Of The Three Million Ounce Pakrut Gold Deposit In Tajikistan
By Alastair Ford



In some ways its the junior miners 21st century dream: a big Chinese sugar daddy comes on board, solving all financing and development worries at a stroke. Lifes not always so simple, as European Nickel, and one or two others that ended up mired in Chinese bureaucracy can attest, but in the case of Kryso Resources, the recent intervention of the China Nonferrous International Metals looks like a godsend. With Western banks still in ultra-cautious recovery mode following the global financial crisis, the likelihood of Kryso getting Pakrut, its lead project Tajikistan, funded by what used to be the convention debt:equity method had always looked open to question. No question about the quality of Pakrut. The three million ounces are well and truly locked away, and recent drill interceptions of 25.5 metres at 7.5 grammes per tonne, 42.4 metres at 5.4 grammes per tonne, and 12 metres at 6.4 grammes per tonne from whats known as Ore Zone 1 give a clear indication of the type of orebody that were dealing with. Its good.
So its little wonder that certain interested parties have tried to muscle in. But all that, says Krysos Craig Brown, is behind the company now; and especially now that the China Nonferrous is on board. Under the terms of the deal, Kryso will retain four board members, while the Chinese will get the right to nominate another two, a non-executive chairman, and another non-executive. More importantly from an investment point of view, China Nonferrous will come in for an immediate 10.99 million in return for a 29.9 per cent stake, and has undertaken to find the funds to get Pakrut developed.

Quite how those funds will actually be raised isnt yet clear, but it may be a moot point. China Nonferrous has several options, explains Craig. It could find the required money internally, or it could source bank finance. The point is, that the undertaking to raise the money has been given, and certain clauses in the recent deal make it advantageous to China Nonferrous to complete on that undertaking. If it doesnt come up with the money, says Craig, China Nonferrous will lose its pre-emption rights, and be diluted back down to 23 per cent. Simple as that.

No one doubts that China Nonferrous has pockets deep enough to get Pakrut into production. Krysos press release announcing the deal describes its new Chinese partner as a major Chinese mining company. China Nonferrous International is the global investment arm of China Nonferrous, a Hong Kong listed company with a well-established presence in China, including substantial interests in zinc and lead, as well as some limited exposure to gold in Chinas Gansu province. The move into Tajikistan will add an extra dimension to China Nonferrous Internationals offering, though, as one of the many Chinese companies gradually spreading their wings out across the Tien Shan gold belt, the prolific geological structure on which Pakrut lies. How far China Nonferrous participates remains to be seen.

First, Kyrso has to deliver on the bankable feasibility study thats due on Pakrut. The results of the study, says the companys news release, will out shortly. At the moment, says Craig Brown, the company already has a draft version to hand. Consultants at Snowden are just looking it over, and then it should be released, probably well within the next four weeks or so. At that point the clock will start ticking on the funding commitment given by China Nonferrous.

Under the terms of the agreement the Chinese will have three months to put in place not less than 70 per cent of the money required to get Pakrut built, and Craig reckons that realistically, all being well, the mine could be in production by 2012. The betting has to be that they will do it, bureaucratic obstacles inside China notwithstanding, because with the gold price still strong, and China holding a trillion dollars worth of US currency, any opportunity to convert those dollars into gold that presents itself will surely be seized upon.

For now, Craig remains in charge as acting managing director. The company would like to appoint someone permanently to the role, and continues its hunt for a suitable candidate. For now, at any rate, it looks as though the job will involve developing a new gold mine in conjunction with a powerful Chinese partner. Opportunities like that dont come along every day.

Now 16.25 bid 16.75 offer

just topped up at best order ..... must go and check how much i have paid

Kryso Resources
4.98% now held by Tom Winnifrith's gold fund now making it nearly the top holding in the fund with Medusa at about 5%

What i ment was 4.98% of the Gold fund

Sun 16:42 Re: BFS timing Wendy Durham 8





View Author's profile | Add to favourites | Ignore | Author's posts

The salient points of the BFS will be published.

The company will shoot itself in the foot if it does not publish it, because the market is expecting it.

I am by no means certain of a bid.

Natasa certainly want Kryso. That much is obvious. The aggression with which they announced their initial holding (acquired from Great Basin) and the exercise of the warrants attached to the Great Basin holding speaks volumes. Note that these announcements did not come from Kryso - they were published by Natasa.

Natasa also announced that they had requested two seats on the board. They then announced that they had put forward resolutions for the AGM (illegal!) to get two of their people - including Kyriakou - on the board. These seats have thus far not been granted by Kryso. Natasa have climbed down a bit and said they now don't want board seats anyway, as they want to be free to act in their own best interest.

At the AGM certain key resolutions - mostly regarding fundraising - were voted down. Who by? Who is the only shareholder with enough clout to have done that? Who also voted out the appointment of Steve Poulton, Kryso's lender of last resort, as a director?

The entire Natasa approach has thus far been hostile in the extreme.

The thought that they would offer a price much above the current share price seems unlikely.

In the meantime we have the strategic investment proposal from China Non Ferrous, which it seems Kryso had been working on for some time. This looks a lot more friendly, and is in keeping with China Non Ferrous's normal procedure of taking strategic stakes and providing financing rather than going all out for takeover.

At some point, Kryso will have to release the documentation calling the EGM to approve the China Non Ferrous stake.

Interesting times. Nastasa has the shares to vote it out will they ?

Posted on the iii bb by Wendy Durham.

My buy yesterday went through as 2 x 50k sells. So I would I expect that most of yesterdays sells were in fact buys. Others I know who purchased today's are having their trades shown as sells. So don't take any notice of the trades. It's all wrong and does not give a true picture of what is happening.

Yes, that poster on iii is right ...... Aldwickk.

http://moneyam.uk-wire.com/cgi-bin/articles/20100805070000P01AE.html

http://www.moneyam.com/action/news/showArticle?id=3922809

http://moneyam.uk-wire.com/cgi-bin/articles/20100902073630PEBC1.html

Rising bit by bit....EK says a possible takeover target at 21p or so.....

Am looking to ADD; but considering my chart illustrates a technical buy originally at 10.25 in June which is underlined at 14p in Aug presumely when citizen Roly bought , i am more than a little reluctant whether to buy @ the current offer of a tad shy of 17p . lncidentally Simon C. who happens to be a neighnor of mine in London, cajoled his father in law - a crown court recorder- to buy and hold a shedload bought at approx 13/14p cant be seen as anything but a positive sign / ....may wait for a bit of profit taking and try and get in at around 15p ....but with gold breaking resistance of 1275 recently i could be waiting a long time. ......

TFC

Care to share your thoughts as to why this was a technical buy in June and why underlined at 14p in August? As a keen chartist I'm always interested to understand that which drives other's analysis.

after talking to a friend who holds a principal position in KYS with clients holding 500k+ in warrants issued at a meagre 8p not so lomg ago , i have totally revised my position on this stock - and hence dumped 75,000 in 3 tranches ....in anticipation of a massive sell of many of those warrants as i say purchased at 8p ......bonne chance / @+ J ....

Kryso Resources
Extension of CNMIM Transaction Long Stop Date
Extension of CNMIM Transaction Long Stop Date
Kryso Resources
Kryso Resources plc - Announcement 200k Advance (2).docx
28 September 2010
Kryso Resources plc
(Kryso or the Company)
Extension of CNMIM Transaction Long Stop Date
Cash Advance of 200,000 Paid to Kryso
Kryso Resources plc (AIM: KYS), the mineral exploration and development company with gold and nickel-copper projects in Tajikistan, announces that pursuant to the conditional subscription agreement (the Subscription Agreement) entered into on 27 July 2010 with China Nonferrous Metals Intl Mining Co. Ltd. (CNMIM) for the placing (the Placing) of 73,269,539 new ordinary shares of the Company (the Placing Shares) to CNMIM at a price of 15p per share to raise approximately GBP10.99 million before expenses, CNMIM has elected to extend the Long Stop Date, which is the date on which the Subscription Agreement shall terminate unless all conditions for completion of the Placing have been satisfied or waived.
The Long Stop Date was originally 27 September 2010 or, if earlier, the date falling ten business days after satisfaction or waiver of the conditions for completion of the Placing (being approval of the Placing by Kryso shareholders and by the relevant PRC authorities).
The Long Stop Date has now been extended to 27 October 2010 or, if earlier, the date falling ten business days after satisfaction or waiver of the conditions for completion of the Placing (the Extended Date), or, if the Placing has been approved by the relevant PRC authorities by the Extended Date but has yet to be approved by Kryso shareholders, the date falling twenty days after the Extended Date.
In order to extend the Long Stop Date, CNMIM has procured a payment of 200,000 (the Cash Advance) to Kryso. The Cash Advance is treated as an advance payment of the purchase price and shall be deducted from the purchase price payable at completion. In the event that the Subscription Agreement is terminated without completion of the Placing or if completion does not otherwise occur, the Company is obliged to issue to CNMIM 1,333,333 ordinary shares of the Company in respect of the Cash Advance, or, in the event that such shares are not duly issued, to repay such cash advance to CNMIM in cash.
Summary Terms of the Subscription Agreement
* Conditional on completion of the Placing: CNMIM is to receive one warrant per Placing Share, each warrant entitling CNMIM to subscribe for one further new ordinary share of the Company at 21p per share; and shall have the right to appoint and maintain up to two directors to the board of Kryso, one of whom will take the role of Non-Executive Chairman
* CNMIM is to use its best endeavours, subject to completion of the Placing, to procure an offer of debt financing for not less than 70% of the funding required to bring the Pakrut gold project into production
* Proceeds of the Placing are to be deployed to fund the development of the Pakrut gold project along with further exploration within the Pakrut licensed area and at the Hukas nickel-copper project
Further Information
* The Subscription Agreement and Placing remain subject to a number of conditions including, inter alia: the passing by Kryso shareholders of resolutions to authorise the board of the Company to allot the Placing Shares and to waive statutory pre-emption rights in respect of such shares at a general meeting to be convened and held in due course by the Company; and approval by the relevant PRC authorities. It is the intention of the Company that notice of the general meeting will be despatched to shareholders after approvals are received from the relevant PRC authorities
* The number of Placing Shares is subject to adjustment if required to ensure that the number of Placing Shares subscribed for shall represent, on completion of the Placing, 29.9% of the total issued shares of the Company