Update on Exploitation Permit at Nayega Project
Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining
Keras Resources plc
('Keras' or the 'Company')
21 October 2019
Update on Exploitation Permit for Nayega Manganese Mine
Keras Resources plc, the AIM listed mineral resource company, is pleased to announce that its 85% owned subsidiary Société Générale de Mines ('SGM') has received a notification of a decree from a meeting of the Council of Ministers of the Republic of Togo held on 18 October 2019, permitting SGM to undertake large scale mining at the Nayega manganese project ('Nayega' or the 'Project') in northern Togo.
Keras anticipates that the all documentation related to the Exploitation Permit will be signed by SGM and Keras during the course of the current week, and a full announcement of the terms of the Permit and the underlying protocols will be made immediately after signature.
Russell Lamming, CEO of Keras, commented; "This is great news for the future of Keras, and a major milestone for the Company. Our strategy of proving up the Project through the fully funded 10,000-tonne bulk sampling programme has been validated, and the installed processing capacity allows us to commence production of beneficiated 38% manganese ore at a rate of 6,500tpm without investing any further capital."
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Russell Lamming, Chief Executive Officer. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:
Keras Resources plc
Nominated Adviser / Joint Broker
Ewan Leggat / Charlie Bouverat
SP Angel Corporate Finance LLP
+44 (0) 20 3470 0470
Isabel de Salis / Cosima Akerman
St Brides Partners Ltd
+44 (0) 20 7236 1177
Keras Resources plc is focused on building a strategic portfolio of resource assets, providing investors with exposure to a portfolio of development assets including manganese, cobalt and nickel in Togo, West Africa. It is also in the process of transferring its holding of shares in Calidus Resources Limited to its shareholders by way of a capital reduction. The Company benefits from a skilled management team, which has extensive experience in the resource sector and proven success in advancing assets up the value curve.
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