REG - Keras Resources PLC - Extended mining campaign completed, Diamond Creek

Keras ResourcesAnnouncement

20/10/2022 07:00

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RNS Number : 4852D  Keras Resources PLC  20 October 2022

 

 

 

 

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

 

Extended mining campaign completed at Diamond Creek Phosphate Mine

 

Keras Resources plc (AIM: KRS) announces that it has successfully completed
its extended mining campaign at its high grade Diamond Creek organic
phosphate mine, ('Diamond Creek') in Utah, USA. A total of 3,000 tons of
phosphate ore (500 tons more than targeted) was mined, crushed and will now be
loaded and hauled to the Spanish Fork processing facility before the end of
the mining season, which formally ends on 31 October 2022.

 

In addition to the material already on stockpile, this crushed ore will be
milled during the winter months to produce 10 mesh and 50 mesh products for
the US fertiliser market. The 10 mesh product will be sold to an existing
offtake client and the 50 mesh will either be packaged and sold directly to
customers or fed into the mill in Spanish Fork to produce 100 mesh and 350
mesh products.

 

Graham Stacey, CEO of Keras, commented, "We are very pleased to have completed
our extended mining campaign which exceeded our plan by some 500 tons. We are
now fully stocked for the coming months with ore available to meet committed
demand as well as plenty of material to process bespoke orders. Sales continue
to be our main focus and we will be supplying our full range of products
throughout the winter as growers re-stock for the spring planting season early
next year."

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

 

 Graham Stacey                            Keras Resources plc             annabel@kerasplc.com

 Annabel Redford

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

 Ewan Leggat / Charlie Bouverat

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

 Damon Heath / Erik Woolgar

 Financial and Corporate Communications   Celicourt                       +44 (0) 774 884 3871

 Felicity Winkles

 

Notes:

Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic 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 processing facilities. The operation produces a variety of organic
phosphate products that can be tailored to customer requirements for
fertiliser.

 

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

 

Additionally, Keras holds an 85% interest in the Nayéga manganese project in
Togo, which hosts an 8.4 million tonne manganese oxide Ore Reserve in northern
Togo, held through Togolese subsidiary Société Générale des Mines SA
(SGM).

 

 

 

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