REG - Keras Resources PLC - Holding(s) in Company

Keras ResourcesAnnouncement

17/04/2023 16:45

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RNS Number : 4811W  Keras Resources PLC  17 April 2023

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

 

Holdings in the Company

 

Keras announces that it was notified on 13 April 2023 by Chris Grosso from
Kershner Grosso & Co. ('Kershner Grosso'), a Saratoga Springs, New York
State based Investment Advisor that it had acquired First Uranium Resources
Ltd's (CSE: URNM) (KMMIF:OTC) ('First Uranium') entire holding of 8,000,000
ordinary shares of 1 pence each in the Company ("Ordinary Shares") in an
off-market trade at 2.5p per Ordinary Share. Post the announcement of 13 March
2023 stating that AxCap Ventures Inc ('Axcap') had sold its entire 5,610,000
shareholding in the Company, neither First Uranium nor Axcap hold a notifiable
interest in the Company's issued share capital.

 

Chris Grosso will hold the shares on behalf of Kershner Grosso which manages
in excess of USD400mn on behalf of its clients, investing in businesses in the
junior resource sector which tend to be long-term in nature with Kershner
Grosso providing ongoing support and guidance as dictated by each management
group, until the full value of each asset is realised. Most recently, Kershner
Grosso was the largest shareholder in Silvercrest Metals Inc, a Canadian
precious metals exploration and production company headquartered in Vancouver,
BC with its flagship asset Las Chispas Mine, in Sonora, Mexico. Kershner
Grosso clients remain large shareholders in Silvercrest and have seen
Silvercrest's share price grow from USD0.10 at the time of its spin out and
initial private placement to its current price of over USD7.00.

 

The Keras Board is very pleased to have Kershner Grosso on board as a
cornerstone shareholder. Kershner Grosso's investment philosophy is very much
aligned with Keras's growth strategy in the US and the relationship is
expected to provide access to new markets and opportunities throughout North
America.

 

Other than as previously announced by RNS, Keras has no further information
pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of
any dealings by First Uranium Inc in the Ordinary Share capital of the
Company.

 

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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