REG - Keras Resources PLC - Hot Commissioning of Integrated Processing Plant

Keras ResourcesAnnouncement

28/06/2024 07:00

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RNS Number : 2495U  Keras Resources PLC  28 June 2024

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

 

28 June 2024

 

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

 

Hot Commissioning of Integrated Delta Processing Plant

Keras Resources plc (AIM: KRS) ("Keras") is pleased to announce the
commencement of hot commissioning of its Integrated Granulator Plant
("Granulator Plant") at its newly acquired Delta processing facility
("Delta"). Hot commissioning tests each plant component under progressively
increasing load conditions until design capacity is reached. The 5 ton per
hour "(tph") nameplate capacity Granulator Plant circuit incorporates a
high-pressure grinding rolls ("HPGR") mill to initially blend and then reduce
feed ingredients to approximately 90mesh (160 micron), the design size
fraction for optimal granulation. The downstream granulation circuit includes
twin 9.5ft diameter pans with organic liquid binder application, dryer and
cooler rotary kilns, dried granule rotary screen and final product radial
stacker. The Granulator Plant will be powered using a 600kW diesel generator
until 3-phase grid power can be installed which is anticipated within the
first year of operation.

 

As part of the hot commissioning process, the Granulator Plant's liquid
circuits - principally the addition of an organic binder and dust control
agent, were commissioned and introduced into the milled high grade rock
phosphate feed produced from the Company's wholly owned Diamond Creek mine to
produce the first granules from the Granulator Plant.

 

The commencement of hot commissioning of the Granulator Plant is a significant
milestone for FIR and the PhoSul Utah LLC JV and starts a new chapter for FIR
producing a tested finished product for direct farm application. PhoSul®'s
formulation allows for improved Phosphorous availability in the soil, results
from field tests have demonstrated significant yield and quality improvements
over competitor rock phosphate sources. With current traditional phosphate
fertilizer production and use under increased environmental pressure, PhoSul®
further helps to solve Phosphorous run-off, a key component of the Company's
organic identity.

 

Graham Stacey, CEO of Keras, commented, "Constant progress towards full load
commissioning and refinement of an integrated circuit is always a challenging
phase of plant construction and build-up to steady-state production. We're
very pleased to have progressed to hot commissioning and production of first
organic granules without any material flaws to-date which speaks to the
commitment of the construction and commissioning team given the intricacies of
the move from Spanish Fork and the integration of the HPGR and granulator
circuits in an entirely different configuration. I look forward to updating
shareholders as we progress towards steady-state production and sale of
organic Phosul® granules, as well as ongoing sales of our internal dry
products as we move towards the commencement of year's summer mining season."

 

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:

 

 Graham Stacey                         Keras Resources plc             info@kerasplc.com

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

 Ewan Leggat / Caroline Rowe

 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 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.

 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 USI am pleased to provide an update
on our progress since the last report and to set out our outlook for the
business going forward.

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