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.

I feel this will be a boring and unexciting stock, a slow tortoise, but will make holders money in the longer term.

By Jackie Steinitz
19 Jun 2007 at 06:32 PM GMT-04:00


LONDON (ResourceInvestor.com) -- Many investors are instantly put off as soon as the S-suffix appears in an article; valuations of companies located in the Central Asian Stans are often collectively marked down for political risk with scant regard for the differences between the five countries.

But to stop reading now could be a mistake, as Kryso Resources [AIM:KYS], a gold/nickel/copper exploration and development company in Tajikistan which is anticipating its first gold pour by 2009 has considerable upside potential. Here, perhaps, are a dozen reasons to read on:

Krysos 100%-owned Pakrut gold project is located in the highly prospective Tien Shan belt, which is host to one of the world's largest concentrations of multi million ounce gold deposits. The belt, which stretches across Central Asia from Uzbekistan to China and Mongolia is reputed to be the worlds second most prospective gold belt after the Witwatersrand in South Africa (which has produced 40% of all the gold ever mined). Some 400M ounces of gold have been identified in Tien Shan, and its mines include the Uzbek state-operated Muruntau deposit, which is the worlds largest open pit gold mine and has a resource of 170 million ounces.

The Pakrut licence area was systematically explored by Soviets from the 1940s to 1980s leaving a physical legacy in the form of adits (tunnels) as well as a body of thorough, well-documented but under-interpreted data. The Soviet legacy has enabled Kryso to conduct year-round underground drilling from the adit, despite climatic constraints, and to fast-track the exploration programme and feasibility study. The initial grassroots exploration was conducted by the Soviets who were looking for the source of the alluvial gold found by locals in the river. In total they carried out $5m worth of exploration work including 6.5km of adit development, 5,000 metres of core drilling and 33,000 cubic metres of trenching. (In Tajikistan there were 30,000 people working on geology at one stage!) As has often proved the case in the Former Soviet Union, the exploration data was of good quality but the various bits of the jigsaw were not pieced together and the resource, estimated by the Soviets to be 1.28M ounces at the C2/P1 levels of confidence, was unexploited. Geotechnical information collected by Soviets on issues such as water flow, temperatures, snowfall and so on can be used in the feasibility study which is currently underway.

Kryso has conducted a further 10,000 metres of diamond core drilling and it is collating the vast amount of data on the Pakrut Licence Area into a single database. In March it announced its first JORC resource of almost 600,000 ounces from the lower grade Zone 2 with mineralisation still open at depth, to the north and to the east. (This lower grade area was targeted first as it is the nearest to the surface and so is open-pittable). The latest drilling at Pakrut is below the adit in Ore Zone 1 has indicated that both the width and grade of the ore body increase with depth. Kryso are targeting a resource of 1M oz by the end of this year. The total JORC resource was 10.1M tonnes at a grade of 1.84g/t with 4.8M tonnes of the resource in the measured and indicated category. Highlights of the drilling to date have included intersections of 40 metres at 8.56 g/t of gold and 33 metres at 3.69 g/t. Results from a further 20 drill holes will be published at the end of this month. A high grade sample of half a kilo which was assayed at the Central laboratory of Tajik Geology contained 570 pieces of free gold!

Only a small part of the 63 square kilometre project area has been drilled. To date Kryso have focussed on only about 5 square kilometres of the project area. Earlier work by the Soviets indicated that the licence area could contain 10 million ounces of gold though this was only at the C1/C2/P1/P2/P3 levels of confidence (The P2 and P3 levels fall below only JORC categorisations and should only be considered as exploration results and exploration potential respectively).

Kryso are fast tracking Pakrut to production by 2009. Revenues will provide cash flow for future development. The Bankable Feasibility Study initially scheduled for completion around now has been put back to the end of the year so that it can include plans for both an open pit and underground mine. The Environmental Baseline Study is already complete. Kryso are targeting production of around 100,000 tpa. The footprint of the operation will be confined to just one valley which will be home to the mine, the plant and the tailings dam.

The company has sought to control its own destiny as much as possible. It owns three diamond drilling rigs and has constructed its own assay lab in Dushanbe, the capital of Tajikistan (and 100km from Pakrut). It is possible that the future mine at Pakrut may produce its own hydro-electric power. With its own assay lab Kryso can analyse samples quickly and cheaply avoiding the delays which plague so many other mining companies in the current tight market. Ditto drilling rigs. The Feasibility Study is currently looking closely at the economics of producing hydro-electric power from the river which will have to be diverted anyway and is likely to have a fall of 250-300 metres. After the initial capex which could be in the order of $6m for 12MW turbines at Western costs, less if Chinese turbines are used, the mine would be self-sufficient in power for most of the year. It is an asset which could be left behind afterwards to supply power to the local communities.

The Tajik government encourages development through foreign investment. No mining licences have ever been revoked. Tajikistan is on the road to democracy and has held 3 elections since the break up of the Soviet Union. Although Kryso was the first foreign company to 100% own a project in Tajikistan there are now several companies which operate there including Avocet Mining [AIM:AVM], Kazakhmys [LSE:KAZ] which has just taken over Eurasias high grade silver deposit and Gulf International Minerals [TSX:GIM].

The Management team are plugged in to local culture. Although the CEO and CFO hail from South Africa and New Zealand they have a combined 25 years experience of working in Tajikistan for companies which developed two operating mines in the country. Both have Tajik wives. The CEO speaks half a dozen languages including Russian and Tajik while the CFO is fluent in Russian. The local director, Abuali Ismatov, is an influential and successful local businessman (whose portfolio includes four vodka bottling plants) with excellent political contacts. Top-notch local contacts have enabled the company to pick a high calibre local management team and workforce and to optimise both the Russian and Western equipment purchased on the basis of cost and quality.

Kryso is also exploring the Hukas nickel/copper/cobalt/PGM project. Like Pakrut this project was also explored in Soviet times revealing a nickel sulphide orebody which outcrops at surface, is potentially open-pittable and which was determined by the Soviets to have an average grade of exposed mineralization of 2.86% nickel, 1.26% copper, 0.083% cobalt and 2.3g/t of platinum group metals. This project has the potential to be even bigger than Pakrut. The Soviet results (exploration was discontinued because of lack of funds) show good grades for each of the metals individually. Taken together they imply a huge value of contained metal per tonne - at todays prices it would be over $1250/tonne and so equivalent to a gold grade of around 60g/tonne. Check out the sums yourself on Kitcos Whats that rock worth ready reckoner). Moreover the nickel is in sulphides and as the CEO, Vassilios Carellas has pointed out deposits of this type are coveted by the mining industry (as sulphides are far cheaper and more straightforward than nickel laterites) but they are getting ever harder to find. Kryso will be commencing core drilling and a geophysical survey at Hukas shortly.

The company is careful with money. Its offices are functional and not elaborate. Travel expenses are contained.

The company has recently forged an alliance with Great Basin Gold [TSX:GBG; AMEX:GBN; JSE:GBG] which is part of the Hunter Dickinson Group and now owns 15% of the company. The deal, concluded in December 2006 brought both technical expertise and 1 million (almost $2 million) of finance to Kryso. In April, Great Basin added a director, Ferdinand Dippenaar, to the Kryso board, who brings with him 25 years of mining industry experience particularly in the gold sector.

Besides Great Basin Gold the shareholder base comprises a mix of funds including RAB Capital (13%) and Gartmore (5%), the renowned short-seller Simon Cawkwell aka Evil Knievel (who is long on Kryso owning at least 3.65%, probably more), the directors (32%) and retail investors (around 27%). Together they represent a vote of confidence in the projects.



In an entertaining article about the company dating from 2004 Simon Cawkwell, who was then the Chairman of Kryso, argued that, in practice there was no geological or management risk attached to Kryso. This may have been over-egging the pudding (and Cawkwell subsequently had to resign the chairmanship because of a breach of AIM rules), but his point that the greatest risk is political is almost certainly a fair one. Nonetheless events to date have suggested that for mining companies Tajikistan has proved less risky than certain other of its fellow Stans.

For the directors the exigencies and obligations of development are probably what keeps them awake at nights; like all directors they have to deliver on promises to their stakeholders. At least in Krysos case the directors have previous experience of mine development.



At todays price of 13.25 pence Krysos market capitalisation is 8.8 million ($17.5 million) which ranks it 164th out of the 200-odd mining companies listed on the London stock exchange, 58th out of the 70-odd gold companies. With its early mover advantage in a well-explored but under-developed region, its high calibre team, local expertise and two highly prospective projects it certainly has significant blue sky potential to advance up the table and reward investors prepared to take on the political risk.

.

.

Kryso Resources plc

(`Kryso' or `the Company')

AIM: KYS

Drilling Report - Pakrut Gold Project

- Exceptional intersections attained including 42m @ 11.17g/t Au, 50m @ 5.67g/t
Au, 41.5m @ 4.08g/t Au

- Results indicate that mineralization in Ore Zone 1 is increasing in width and
grade with depth

Kryso Resources plc, the mineral exploration and development company with gold
and nickel-copper projects in Tajikistan, is pleased to announce that further,
highly positive, assay results have been received from diamond core drilling at
its 100 per cent owned Pakrut gold project. The assays have been completed by
the internationally accredited SGS Lakefield laboratory in South Africa.

Highlights of drilling in Ore Zone 1 include intersections of:

42m @ 11.17g/t Au (including 6m @ 18.3g/t, 4m @ 28.15g/t, 3m @ 10.68g/t, 5m @
34.04g/t)

50m @ 5.67g/t Au (including 5m @ 41.54g/t)

41.5m @ 4.08g/t Au (including 16m @ 8.49 g/t)

40.5m @ 3.94 g/t Au

76m @ 2.53 g/t Au

These results, which are from drilling down to 150-200m below the existing adit
level, support the interpreted trend of the mineralization in Ore Zone 2 and
more particularly in Ore Zone 1, which is still open at depth and to the east
and north. The drilling, which has mostly targeted untested areas below the
adit level in Ore Zone 1, shows that both the width and grade of the
mineralization have significantly increased with depth.

Drilling continues immediately below the adit level from underground stations
and the Company plans to drill the deeper extensions of Ore Zone 1 from surface
later in the year.

In March 2007 Kryso announced an initial JORC-compliant resource statement of
approximately 596,500 ounces of gold assuming a 0.5g/t cut-off grade, which was
based on approximately 8,000m of drilling as at the end of January 2007. The
bulk of the current JORC-compliant resource is derived from the lower grade Ore
Zone 2, which was targeted first because of its proximity to the surface and
suitability for the definition of an open pit.

The drilling results released today and those generated in future will be used
to update the existing JORC-compliant resource estimate. Results from Ore Zone
1 are also expected to enable a preliminary underground mining option to be
generated.

Kryso Resources' Managing Director, Vassilios Carellas comments:

`We are delighted with the quality of the drill results being received from
Pakrut. Not only are the grades extremely encouraging, but also the
mineralization appears be trending into an as yet untested area, which raises
the prospect of a significant extension to the deposit.

This would naturally have a positive effect on the project's overall resource
base and would consequently bolster the economic case for the planned mining
operation at Pakrut. We will release further results from ongoing drilling as
and when they are obtained.'

All exploration results have been approved for release by Dr Trevor Davenport
B.Sc, M.Sc, Ph.D, MIMM, C.Eng, Chairman of Kryso Resources plc. Trevor has more
than 35 years experience in the mining industry and has consented to the
inclusion of the material in the form and context in which it appears.

Closed up 1p on high volume & larger trades

recent media coment, here

Kryso Resources (AIM: KYS) was one of the few microcaps, in other words companies capitalised at around 10 million or less, to buck the trend this week, seeing its shares gain 7 per cent to 14.5p following the release of some attention grabbing drill results from the companys Pakrut gold project in Tajikistan. Intersections of up to 42 metres at 11.17 g/t gold and 50 metres at 5.67 grammes per tonne were recorded.

Kryso Resources Looks Forward To More Uplifting Intersections At Pakrut


By Henry Sandford



AIM-listed, Tajikistan focussed junior Kryso Resources got a boost recently from a set of eye catching drill results at its Pakrut gold project. Intersections like 42 metres at 11.17 grammes per tonne gold, 50 metres at 5.67 g/t, and 41.5 metres at 4.08 g/t tend to turn heads, and managing director Vassilios Carellas is hopeful that more results like this are on the way from Pakrut, where drilling has now begun to focus on Ore Zone 1, which lies below the existing adit level and which yielded the recent set of high grade intersections.
The prospectivity of the region is obvious, with the Tien Shan gold belt cutting a swathe across the central and northern part of the country and numerous known multi million ounce gold deposits. The Pakrut deposit currently has a JORC-compliant resource of 596,500 ounces, and Kryso is targeting in excess of a million. So far, the company has focussed its drilling on Ore Zone 2, which is located closer to surface. The reasoning behind this was that it facilitated the initial definition of an open pit the trade- off was that the grades in Ore Zone 2 are less impressive.

But in the light of recent results Kryso has taken the decision to delay the completion of a feasibility study on a mining operation at Pakrut until the around the end of the year, whereas the previous target date had been around the end of July. However, the company will now have more time to consider its options, particularly with regard to the mining scheme and how best to exploit the high grade mineralisation now coming into play.

A geophysical survey due to start shortly is intended to allow the definition of drill targets at Krysos Hukas nickel-copper prospect, and the company will look to test these in the first half of next year. An unfortunate delay on the part of the contractor selected to carry out the survey has put back the start of work by a couple of months since plans for the survey were announced in April, but snags such as this are inevitable in an industry environment where contractors have as much, if not more, work than they can handle.

The Stan label is always going to be a problem for a company like Kryso. With neighbours like Afghanistan and Kyrgyzstan, Tajikistan doesnt have the most comforting address for international investors. But it is worth remembering that not only is Tajikistan one of the few countries in Central Asia to permit an active opposition, but it peacefully held parliamentary and presidential elections in 2005 and 2006 respectively, and has never revoked a mining licence.

Kryso is not the only company to have recognised Tajikistans mining potential. AIM-listed gold producer Avocet Mining acquired the (ZGC) back in 2002, but recently sold it to Chinas Zijin Mining for a total cash consideration of just over US$55 million. As well as being a poor fit with Avocets other operations in South East Asia, the company was never able to get to grips with ZGC - or really with Tajikistan - but Kryso has no such difficulties.

The companys non-executive chairman Trevor Davenport, managing director Vassilios Carellas, and finance director Craig Brown all spent several years working in Tajikistan prior to becoming involved with Kryso. Moreover, non-executive director Abuali Ismatov is a prominent Tajik businessman, and the net result is a company that has the connections and the cultural sensitivity necessary to do business in this part of the world.

http://moneyam.uk-wire.com/cgi-bin/articles/20070927120903PF03C.html

Kryso Resources plc

`Kryso' or `the Company'

AIM: KYS

Company Registration Number 0519050

Interim Results for the six month period ended 30 June 2007

Highlights

- Feasibility study on Pakrut gold project is proceeding well with completion
anticipated in Q1 2008

- Geophysical survey at Hukas nickel-copper project is completed, drill targets
now being generated

- Highly encouraging gold intersections received from diamond drilling at
Pakrut, further results pending

Kryso Resources' Non-Executive Chairman Dr. Trevor Davenport comments:

`The company has achieved a great deal since I last reported to shareholders.
We continue to make good headway with the Pakrut feasibility study as well as
with the exploration of the Hukas nickel-copper project. In the light of the
exceptional recent drill results from the Pakrut gold project, with more
results due in the near future, we feel justified in looking to the coming
months with great optimism.'

From Stock Market Reporter

Fox Davies Capital has a "buy" rating for Kryso Resources (KYS), up 0.25p to 12.5p, following the company's interim results for the six months ended 30 June 2007. FD commented: "Whilst Kryso Resources is currently undertaking feasibility studies, recent drill results have been above expectations, such that the company is now evaluating coming into production at closer to 100,000oz pa from simultaneous underground and open pit operations, rather than lower production from an open pit followed by an underground mine 1 to 3 years later." However, FD said that it has not yet valued Kryso on a metal in ground basis because the most suitable scenario has not yet been identified although it reckons the shares are worth 21p..



Simon Cawkwell is convinced that they are worth a 30p +

1 October 2007

Kryso Resources plc

(`Kryso' or `the Company')

AIM: KYS

Placing Announcement

- Kryso places 10,780,595 shares at 11.5p through Fox-Davies Capital

- A total of 1,239,768 raised before expenses

- Funds will be applied to Pakrut gold and Hukas nickel-copper projects

Kryso Resources plc, the mineral exploration development company operating in
Tajikistan, is pleased to announce that it has placed 10,780,595 ordinary
shares (`the Placing Shares') at a price of 11.5 pence each (`Placing Price')
(together, `the Placing') for gross proceeds of 1,239,768 through Fox-Davies
Capital Limited (`FDC').

Kryso will utilise the funds for the advancement of the Pakrut gold project,
where a bankable feasibility study is currently underway, and to sustain
exploration of the Hukas nickel-copper project. Some funds will also go towards
general working capital requirements.

Application will be made to the London Stock Exchange for the Placing Shares to
be admitted to trading on AIM. It is expected that admission will become
effective and that trading will commence on 5 October 2007.

The Placing Shares represent 13.9 per cent of the enlarged issued share capital
of the Company. Following the admission of the Placing Shares to trading on
AIM, the Company will have 77,280,595 ordinary shares in issue.

Fox Davies Capital Limited acted as broker in relation to the Placing, and will
receive a commission and warrants to subscribe for 581,549 New Ordinary Shares
pursuant to the Placing.

Kryso Resources' Managing Director, Vassilios Carellas, comments:

`We are delighted with the support we have had for this placing. The funds
raised will allow us to continue with the feasibility study currently underway
on the Pakrut gold project and to carry out an exploration drilling programme
on targets identified at the Hukas nickel-copper project by the recently
completed geophysical survey.

We continue to make good progress with the Pakrut feasibility study, which we
expect to complete during the first quarter of 2008. We remain highly
encouraged by the recent high-grade gold intersections from drilling at Pakrut,
while we eagerly anticipate the results of the upcoming drilling at Hukas. With
gold and nickel prices both very strong, this is an exciting time for Kryso.'

Expanded Placing.

http://moneyam.uk-wire.com/cgi-bin/articles/20071003104133P0C3E.html

A little bit of action today, for a change. just 1 x 10k sale.

Trades for 09-Nov-2007
Time Volume / Price
16:34 150,000 @ 12.88p
16:25 100,000 @ 12.88p
16:21 10,000 @ 12.00p
14:34 100,000 @ 12.75p
15:14 100,000 @ 12.75p

Encouraging Results from Pakrut Gold Project Drill Intersections

- Further outstanding intersections include 6.5m @ 37.97g/t Au and 30m @ 13.23g/t Au

- Resource update expected before the end of the month

13 November 2007: Kryso Resources plc, the mineral exploration and development
company with gold and nickel-copper projects in Tajikistan, is pleased to
announce that further, highly encouraging, results have been received from
diamond core drilling at its 100 per cent owned Pakrut gold project. The assays
were carried out by internationally accredited laboratories in South Africa.

Highlights include the following intersections from Ore Zone 1:

6.5m @ 37.97g/t Au (including 1.5m @ 158g/t) from 132.7m

30m @ 13.23g/t Au (including 12.85m @ 29.07g/t) from 55.15m

For a full summary of results please see Table 1 at the end of this
announcement.

The results announced today, which are from additional drilling to 150-200m
below the existing adit level, support the interpreted trend of mineralization
in the main Pakrut deposit, which remains open at depth and to the east and
north.

These results, along with the results announced in June, will be used to update
the existing JORC-compliant resource estimate for the main Pakrut deposit,
which currently stands at 596,500 ounces.

The Company is currently utilising its drill rigs for a geotechnical drilling
programme designed to investigate the underlying bedrock in the area of the
proposed open pit and tailings dam, but intends to continue drilling the
postulated extensions of the main Pakrut deposit during the winter months from
underground, and to drill the deeper horizons from surface in the spring of
next year.

Kryso Resources' Managing Director, Vassilios Carellas comments:

`These are exciting intersections from the diamond drill programme at Pakrut.
The project continues to reward our exploration efforts, and these results bode
well for the update to the JORC-compliant resource estimate for the main
deposit, which we expect to be completed by the end of the month.'

All exploration results have been approved for release by Dr Trevor Davenport
B.Sc, M.Sc, Ph.D, MIMM, C.Eng, Chairman of Kryso Resources plc. Trevor has more
than 35 years experience in the mining industry and has consented to the
inclusion of the material in the form and context in which it appears.

http://www.proactiveinvestors.co.uk/articles/art.php?KYS

Minesite 18/11/07

Kryso Resources (AIM: KYS) gained 10 per cent to 13.9p on the back of a strong set of drill results from the Pakrut gold project in Tajikistan and in the expectation that a resource update for the project will be announced shortly.

Kryso raises resource estimate at Pakrut gold project to 1.06 mln ounces

LONDON (Thomson Financial) - Kryso Resources PLC said the resource estimate at the Pakrut gold project in Tajikistan now stands at 1.06 mln ounces at a cut-off grade of 0.5 gram per tonne.

The company said the new estimate is about 77 pct higher on the original resource statement given in March this year.

Managing director Vassilios Carellas said Kryso has numerous additional drill targets and expects to increase the resource substantially in the future.