REG - Keras Resources PLC - Corporate Update

Keras ResourcesAnnouncement

08/08/2025 07:00

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RNS Number : 5068U  Keras Resources PLC  08 August 2025

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

 

08 August 2025

 

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

 

Corporate Update

 

Keras Resources plc (AIM: KRS) is pleased to announce an update on the
Company's high-grade organic phosphate mine and processing operations in Utah,
USA held through its 100% owned subsidiary Falcon Isle Resources Corp ("Falcon
Isle") and the Nayéga manganese mine ("Nayéga") in northern Togo owned by
Société Togolaise de Manganèse (STM), the Republic of Togo's ("State") 100%
owned investment company.

 

Falcon Isle

·      Operations at the Delta Facility are progressing well where we
are producing both Phosul® granulate under the Phosul Utah LLC joint venture
("JV") and Falcon Isle's dry rock phosphate products, sold under the PhosAgri
Organic banner;

·      Based on the forward orders for both PhosAgri and Phosul® Falcon
Isle plans to undertake a mining campaign this autumn for an additional 5,000
tons of rock phosphate to bolster current inventories of circa. 7,500 tons for
the 2025 winter.

Nayéga

·       The Nayéga mine has completed its recommissioning and is now
starting to ramp up to full capacity.

·     Feasibility studies have commenced to investigate increasing the
installed processing capacity from the current circa. 8,000 tonnes per month
plant;

·        Approximately 1,000 tonnes of processed manganese ("Mn") is
currently in the warehouse in Lomé ready for export and an additional circa.
2,000 tonnes are stockpiled at the mine ready for transport to Lomé;

·        STM is targeting the shipment of its first 100 containers
(2,750 tonnes) in the first half of September; and

·        The manganese market for the Nayéga 38% Mn is relatively
robust with CIF China prices in the range of US$3.5-US$3.65 per dry metric
tonne.

 

Russell Lamming, Interim Executive Chairman of Keras, commented, "After a
period where the Company was focused on developing our infrastructural
footprint in the North American organic market I believe we are now at the
inflection point where we start to see the growth in our product sales
footprint.  Colton and his US team have made significant progress since
joining the Company earlier this year and our high-grade phosphate products
are extremely well positioned for both the organic and conventional fertiliser
markets and it is time to deliver into both of those markets.  The cash flow
from Nayéya will underpin the US cash flows and we look forward to being cash
flow positive from a group perspective in due course. I look forward to
updating shareholders in the near term on progress on both fronts."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under Article 7 of the Market
Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the
domestic law of the United Kingdom by virtue of the European
Union (Withdrawal) Act 2018 (as amended). Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

**ENDS**

 

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

 

 Russell Lamming                       Keras Resources plc             info@kerasplc.com

 Nominated Adviser & Joint Broker      SP Angel Corporate Finance LLP  +44 (0) 20 3470 0470

 Ewan Leggat / Jen Clarke

 Joint Broker                          Shard Capital Partners LLP      +44 (0) 207 186 9900

 Damon Heath / Erik Woolgar

Notes:

Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic rock
phosphate mine in Utah, US. Diamond Creek is one of the highest-grade
organic phosphate deposits in the US and is a fully integrated mine to market
operation with in-house mining and processing facilities. The operation
produces a variety of organic phosphate products that can be tailored to
customer organic fertiliser requirements.

 

Please note that "ton" refers to U.S. short ton (2,000 lbs) and "tonne" refers
to metric tonne (1,000 kg).

 

The Company is focused on continuing to increase market share in the
fast-growing US organic fertiliser market and build Diamond Creek into the
premier organic phosphate producer in the US.

 

 

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