First Ore Trucked from Nayega Manganese Project
Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining
30 January 2019
Keras Resources plc ('Keras' or the 'Company')
First Ore Trucked to Port from Nayega Manganese Project
Keras Resources plc, the AIM listed mineral resource company, is pleased to announce that it has commenced the trucking of processed ore from its 10,000-tonne bulk sampling metallurgical testwork programme at the Nayega Manganese ('Mn') Project in northern Togo ('Nayega' or 'the Project'). This demonstrates Keras' progression into the next stage of development at Nayega.
Highlights
· Trucked ore now being stockpiled at secure site adjacent to the deep-water port of Lomé
· Steady-state production levels of 230 saleable tonnes per day achieved through recently commissioned scrubber plant - 4 shifts operating 24 hours a day, 7 days a week
· Peak haulage of 12 trucks or 420 tonnes per day expected by 31 January 2019
· Installed capacity to produce circa. 6,500 tonnes per month of +35% Mn ore at Nayega
Russell Lamming, Chief Executive Officer of Keras, commented, "I am delighted to announce that the trucking of processed ore at Nayega began at the weekend, with peak haulage of 12 trucks or 420 tonnes per day expected by 31 January 2019. Currently, the ore is being stockpiled at a secure site close to the Lomé deep-water port in Togo and will be transferred to the bulk material wharf when shipping commences in late February 2019. In addition, the scrubber plant has now reached the steady-state production of 230 saleable tonnes per day, operating in four shifts, 24 hours a day, seven days a week.
"The continued success of the bulk sampling programme has underpinned the significant value that we attribute to Nayega; we believe the Project will form the cornerstone of Keras' manganese business moving forward. The Company has had an exciting start to the year with pivotal news already released and hopefully more good news on the horizon. We look forward to providing further updates on our progress at the operation."
Further Details
In August 2018, a 10,000-tonne bulk sampling metallurgical testwork programme commenced at Nayega to further understand metallurgical testwork previously conducted at the Project. The current programme is fully funded by a major producer of manganese-based alloys, which aims to assess the suitability of the ore in its smelting facilities. Trucking of processed ore to a secure site adjacent to the deep-water port of Lomé began at the weekend. The 20tph scrubber plant was commissioned late December 2019 and has now reached steady state producing 230 saleable tonnes per day.
Installed mining and processing plant and equipment at Nayega has the capacity to produce circa. 6,500 tonnes per month of +35% Mn ore, with recent test work results having returned grades of 40%+ Mn, suggesting further potential upside to the operation.
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 Isabel de Salis / Cosima Akerman |
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 portfolio of development assets, including manganese, cobalt and nickel in Togo, West Africa. It also has a significant interest in Calidus Resources Limited ('Calidus'), a highly prospective gold exploration and development company in Australia, which is currently undertaking a Pre-Feasibility Study at its Warrawoona gold project. Keras benefits from a highly skilled management team, which has extensive operational experience in Africa and Australia and 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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