Short title body here for now. Just need to dump in a Broker Note update from Fox Davies
Despite the delay in starting production, the target price has increased from £0.25/share to £0.28, primarily due to the higher gold prices but also modestly assisted by a weaker sterling exchange rate.
Background: Small AIM miner focused on Pakrut Gold Mine project in Tajikstan.
Website: http://www.kryso.com/default.cfm
About the Pakrut Gold ProjectThe 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 (JPGH - Still not completed, Jan 24 2010)
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.
Kryso Background
For those who know little about KYS see link below for a good place to start:
http://boards.fool.co.uk/message.asp?source=isesitlnk0000001&mid=10895877&mrr=0.50
Recent resource update:
http://www.investegate.co.uk/Article.aspx?id=20091117070000P9E5C (Increase of approximately 43% in Pakrut's total JORC Code-compliant resources)
KYS also have a separate Ni project (in Tajikistan) but this is not nearly so far advanced as the gold project.
JPGH