Keras Resources PLC Bulk Sampling Update from Nayega Manganese Project (7488X)
August 15 2018 - 2:00AM
UK Regulatory
TIDMKRS
RNS Number : 7488X
Keras Resources PLC
15 August 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
15 August 2018
Keras Resources plc ('Keras' or the 'Company')
Update on Bulk Sampling Programme
at Nayega Manganese Project in Togo
Keras Resources plc, the AIM listed mineral resource company, is
pleased to announce a number of appointments to advance the 10,000
tonne bulk sampling metallurgical testwork programme ('Programme')
at the Nayega Manganese Project in northern Togo ('Nayega'), which
hosts a current JORC Code Mineral Resource of 13.97Mt @ 12.4%
manganese. Keras has appointed Graham Stacey as Project Manager,
Carriere Mines Travaux Public ('CMTP') as the turn-key mining and
logistics contractor and has awarded the bulk sampling plant
contract to Appropriate Process Technologies Pty Ltd ('APT').
Furthermore, equipment has been mobilised to commence the bulk
sampling on 27 August 2018.
Graham Stacey is a qualified Mining Engineer with 20 years'
experience across a range of commodities including underground and
opencast mine design, project execution, operations management and
mineral resource management. He has worked with a number of leading
mining companies, including eight years with Anglo American plc in
the coal and platinum operations and project divisions. Following
this he spent four years at mining industry consultancy, Venmyn
Rand Pty Ltd, focussing on mineral asset valuations and related
compliance reporting and technical consulting. In 2008 Graham was
appointed as COO and Director at Chromex Mining plc ("Chromex") an
AIM listed junior chrome miner, and then went on to spend four
years as head of projects at JSE listed Keaton Energy Holdings
Limited, which included project assessment and evaluation in the
Southern African Development Community region.
CMTP is a Togolese mining and logistics contractor located in
the Togo capital, Lomé which has been operating in West Africa for
the past 20 years. CMTP currently operates two opencast mines in
Togo and has a logistics business reaching into Burkina Faso, Niger
and Mali. CMTP will provide the mining and screening equipment for
the bulk sampling operation and will be arranging all logistics
between Nayega and Port Lomé.
APT is a mining equipment manufacturer based in Johannesburg,
South Africa, which specialises in complete, modular, pre-assembled
mining equipment solutions. APT is responsible for the fabrication
and commissioning of the 20 tonne per hour bulk sample scrubber
plant required to upgrade the manganese at Nayega.
Russell Lamming, Chief Executive Officer of Keras, commented,
"The bulk sampling exercise is progressing well and the
appointments of Graham, CMTP and APT are critical to the success of
the operation. Graham and I developed Chromex's Stellite chrome
mine from a greenfield exploration project to a profitable chrome
mining and processing operation, following which Chromex was sold
to a Ruukki Group Plc affiliate, Synergy Africa Limited, for GBP37
million, so I know first-hand that he has the skillset suited to
manage this Programme. Furthermore, it is clear to see from CMTP
and APT's operational experience that they have the requisite
knowledge and abilities to help us execute the bulk sampling
operation.
"Graham and CMTP have been working closely on the Programme
scheduling and have mobilised equipment to commence operations on
27 August. Although this is a single bulk sample exercise, Keras
has opted to purchase the bespoke scrubber plant rather than
outsource to ensure that the optimal grade is achieved during this
programme and that we can seamlessly transition to commercial
production once approval is granted. The scrubber plant has a
10-week lead time resulting in an estimated completion date for the
entire bulk sampling programme of mid-January 2019. I think it is
important to reiterate that the entire Programme is fully funded by
a major producer of manganese-based alloys as announced in July and
includes a management fee for Keras which will cover overheads and
salaries. We look forward to providing shareholders with further
updates on the bulk sampling work in due course."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.kerasplc.com, follow us
on Twitter @kerasplc or contact the following:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Susie Geliher / Charlotte +44 (0) 20 7236
Page St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
a strategic portfolio of development assets, including manganese,
cobalt and nickel in Togo, West Africa, and also has a significant
interest in a highly prospective gold exploration and development
portfolio in Australia.
Keras benefits from a highly skilled management team, which has
extensive operational experience in Africa and Australia with
proven success in advancing assets up the value curve.
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END
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