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.

April 30, 2008

Krysos Pakrut Project Now Boasts One Million Ounces, But Delays With Metallurgical Testing Continue To Hold It Back


By Alastair Ford



Vassilios Carellas is genuinely contrite that his company, Kryso Resources, is running behind schedule. Kryso is sitting on a JORC resource of one million ounces up at Pakrut in Tajikistan, where its been steadily working for several years. The companys management has long experience on the ground there, and even if the old Soviet era drill rigs are a bit clunky and the working conditions are harsh, its not been as result of its commitment to Tajikistan that things are running behind. Rather, its our old friends at Eskom, the South African power utility, who bear the brunt of the blame.
I said last year wed be finished by July, and Im not going to do it, says Mr Carellas. The reason? Metallurgical work contracted out to SGS Lakefield has been held up because the met labs keep having power cuts. What with all the samples already down in the rainbow nation waiting for testing theres no real chance of getting anybody else to do the work, so Kryso just has to wait it out. More painfully for the company, because met labs - and indeed labs of all sorts - hold the whip hand at the moment as they are backed up with work the world over, theres no kind of compensation coming Krysos way. Work can be delayed, and delayed, and delayed, and in the absence of any penalty clause, theres nothing the company can do about it.

No matter, that as a small mining company moving a resource into development, such delays put a severe strain on working capital, SGS Lakefield has the company over a barrel. To tide things over Kryso has just arranged a 500,000 convertible note with major shareholder Great Basin Gold. But as to getting the bankable feasibility done by July not a chance. And no money will be forthcoming from the banks for debt finance until the bankable study is in place. No wonder Krysos shares have weakened significantly over the past few months. Once the positive sentiment around the surge to US$1,000 gold had evapourated, and the delays became more acute, buyers of Kryso shares became noticeably more thin on the ground. The shares are off around 25 per cent this year.

This is all the more frustrating because old Russian data shows that actually there are unlikely to be any metallurgical issues at all with Pakrut. Historical work shows recoveries of the order of 95 per cent, and with two thirds of SGS Lakefields work complete, theres been no indication that anything new or unexpected has arisen.

Pakrut sits on the southern side of the prolific Tien Shan gold belt in the north of Tajikistan. The million ounces that Krysos drilling delivered last December is largely in the measured category, and although lately much of the drill work has been of a geotechnical nature and not designed to add ounces, the company is reasonably confident that there is more to be had. The companys Canadian investors would very much like Kryso to drill out Pakrut extensively, but Mr Carellas has a keen feel for what his London investors want: production. This was evident at the recent Master Investor Show held in London, where several mining companies had booths, and the ones that were most frequented were the ones that offer either cash flow, or impending cash flow.

Kryso had a stand too, and the picture was no different. So the delays to the bankable study on Pakrut hurt here in London more than they might in Toronto or Vancouver, where the swift delivery of additional ounces might go a long way to soothing troubled waters. But the Canadians arent that strong on central Asia, which is why, at the end of the day, the London listing is essential, and Londons preferences must be considered.

With any luck, the bankable study on Pakrut will be complete by the end of this year, and the company can then go to the banks and start casting around for funding. The plan is for a combined open-pit underground that will cost around US$65 million to get operational. Thats not too big an ask for the banks, and with Great Basins Ferdi Dipenaar behind them, the company ought to be able to deliver the funding without too much trouble. But until the bankable study comes in theres no point asking for the money. And until the met work is done in South Africa, the bankable is on hold.

For the immediate term, that leaves Kryso only able to shout about its Hukas nickel sulphide project. Mr Carellas shows some skepticism as to how London will react to ongoing work there, given the markets skepticism about early stage exploration. But London doesnt really mind early stage exploration, as long as its backed by cash flow. At Hukas, Kryso is aiming to work up one of the worlds few new nickel sulphide deposits. If it can deliver on that objective while it irons out the met work delays on Pakrut, it may find the market very appreciative indeed.

A bad day for KYS now only 9.25 bid.

Minnow miners not doing well at all : KYS, VDM, VML....to mention just some : (.

VML as recoved from its low and as held its price these past 2 weeks

Maybe its investers moving into oil stocks.

AIM: KYS

Positive Drilling Report - Pakrut Gold Project

- Another exceptional intersection attained from Ore Zone 1 - 123.7m @ 6.14 g/t Au

- First hole into a new zone intersects mineralization

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

Highlights of drilling in Ore Zone 1 include an intersection of

123.7m @ 6.14g/t Au (including 86m @ 8.48g/t).

This result, from drilling between 100-200m below the existing adit level,
further supports the interpreted trend of the mineralization, which is still
open at depth and to the east and north. The results from this drill hole
demonstrate that the grade and width of the resource is increasing with depth.
These results announced today will be used to update the existing 1.05Moz
JORC-compliant resource later this year.

In addition, a new zone (Ore Zone 7) to the south-east of Ore Zone 1 has been
identified with the completion of the first drill hole at this location.
Further drilling from surface will test the extent of this new zone over the
coming months.

Kryso has now successfully completed the geotechnical drilling programme
designed to test the proposed open pit and tailings dam. The Company's drill
rigs will now be utilised to test the deeper extensions of the Pakrut
mineralisation and these results will be announced over the coming months.

Kryso Resources' Managing Director, Vassilios Carellas comments:

"This is an outstanding intersection that suggests that the Pakrut ore body now
has a width of approximately 70m at this location. `I am very excited by these
results which demonstrate that the grades and widths of the Pakrut resource are
increasing at depth which bodes well for bulk tonnage mining potential. The
current drilling programme will now test the extent of this mineralization at
depth and to the east. This is an exciting phase for Kryso as we continue to
add significant value to the Pakrut project."

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.

At long last some good news (see RNS and AFX) from my battered portfolio (so much that you could sell it in a fish and chips shop)....makes a change !.

Where is the volume to justify a 7.5% increase in the sp?

THis article explains the increase in SP, click HERE

This will be a future mine.....so many other projects never come to fruition !.

new resource count!

For the news, click HERE

Any views on whether todays rise may be linked to Pakrut financing as indicated in the previous update? Or with parity buy/sells simply a tree shake to stimulate some interest? The next few days could be very interesting...

KYS is another EK/TW punt be careful unless you are knowledgeable about Tajikistan.

Bought back into these again this morning, the trend is upward. As long as they can get the funding they should reach Simon Cawkwell's value of 30 to 40 pence.

http://www.minesite.com/nc/minews/singlenews/article/krysos-feasibility-study-on-the-two-million-ounce-pakrut-property-is-nearly-finished-next-stop-fin/1.html

Perking up at long last....3 million ounces at least in the ground...perhaps even as much as 4.....and a market cap of only 15 million pounds.....

rf careful this is another EK favourite.

I've sat through the bad years with this one....and coming good at long last...

gold reserves of close to 180p or about 1300% of current price. Might have a nibble tomorrow as these are on a chart breakout if they can put on another 2.5p

Bit of a price breakout yesterday, 14p offer price this morning.

noticed that roly ,,,still in ...lupus flew on results. Spent 3 months on 67/69 bid offer irrespective of trades . Now 80p . Have e-mailed you twice ....are u receiving on yahoo ...or dont u recognise my real name ?