Toll Milling Agreement Concluded

RNS Number : 4623I

Keras Resources PLC

31 August 2016

 

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

31 August 2016

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

Toll Milling Agreement Concluded

Keras Resources plc, the Australian gold mining company, is pleased to announce that it has concluded a toll milling agreement with Golden Mile Milling (Pty) Ltd ('Golden Mile') to treat ore from the Wycheproof project at the Lakewood mill located on the outskirts of Kalgoorlie.  The Wycheproof deposit is located 50km north east of Kalgoorlie in Western Australian goldfields where the Company has a 50:50 profit share agreement with Kalgoorlie Mining Associates.  

The Wycheproof pit has now been mined to a depth of 8m below surface and the pit extends for a further 12m depth. It is anticipated that mining will be complete at the end of September 2016. The Wycheproof ore will be processed in two batches at the Lakewood mill. First haulage will commence in the week starting 5 September 2016 with the first mill campaign to be commenced soon after. The final mill campaign is scheduled to be completed in early October 2016.

Keras Managing Director Dave Reeves said, "The milling agreement with Golden Mile is significant in that it allows us to batch process the ore which provides both detailed grade reconciliation and rapid payment of gold produced. Haulage and milling for the Wycheproof pit will commence in September and will be complete in October. Mining is on schedule and on-budget."

Further details:

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:

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
Elisabeth Cowell/ Frank Buhagiar	St Brides Partners Limited	[phone]

 

END

 

 

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