Bulk Sampling Update from Nayega Manganese Project
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 £37 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:
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Russell Lamming |
Keras Resources plc |
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Nominated Adviser / Joint Broker Ewan Leggat / Charlie Bouverat
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SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470
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Financial PR Susie Geliher / Charlotte Page |
St Brides Partners Ltd |
+44 (0) 20 7236 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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