Issue of Equity and Total Voting Rights

RNS Number : 4082X

Keras Resources PLC

21 February 2017

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

21 February 2017

Keras Resources plc ('Keras' or 'the Company')

Issue of Equity and Total Voting Rights

Keras Resources plc announces that following the passage of all resolutions at the Company's Annual General Meeting on 10 February 2017, it has issued the second tranche of 44,610,827 Loan Conversion Shares as detailed in the Company's announcement of 3 February 2017.

Application has been made for the admission of the second tranche of Loan Conversion Shares to trading on the AIM Market of the London Stock Exchange ('Admission') and Admission is expected to occur on 24 February 2017. These Loan Conversion Shares will rank pari passu with the existing Ordinary Shares, which are currently traded on AIM.

Total Voting Rights

Following the Admission of the second tranche of Loan Conversion Shares there will be 1,719,209,021 Ordinary Shares in issue with each share carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company will therefore be 1,719,209,021 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Unless otherwise indicated, all defined terms in this announcement shall have the same meaning as described in the Company's announcement of 3 February 2017.

**ENDS**

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Dave Reeves	Keras Resources plc	[e-mail]
Nominated Adviser
Gerry Beaney/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss	Beaufort Securities Limited	[phone]
Financial PR
Susie Geliher/Charlotte Page	St Brides Partners Limited	[phone]

Notes

Keras has a portfolio of owner-operated gold interests and cash generative joint venture gold projects.  The Company's strategy is focussed on advancing its owner-operator gold interests towards production whilst concurrently identifying and assessing low risk, high margin joint venture operations to enable continuing cash flows. The Company benefits from an experienced management team, which has extensive gold experience and is based in Perth, reducing execution risk.

Gold Projects

Warrawoona Gold Project - Western Australia

· Contains the primary Klondyke Gold Project and the Copenhagen Gold Deposit

· Total Inferred Mineral Resource Inventory of 5.8Mt @ 2.2g/t Au for 410,000oz

· Active growth strategy - continue to assess additional opportunities in the project area to add contiguous lease areas to the critical mass that has been consolidated

Tribute Gold Projects

Keras has a portfolio of tribute mining agreements in the Kalgoorlie Goldfield, Australia and is targeting 20,000-30,000oz gold per annum from these assets. 

Wider Portfolio

Keras is currently awaiting a mining permit for its Nayega Manganese Project in Togo.  Once received it will look to develop the asset into a low-cost export mining operation.

 

END

 

 

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