REG - Keras Resources PLC - Togo Update

Keras ResourcesAnnouncement

06/06/2025 07:00

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RNS Number : 7097L  Keras Resources PLC  06 June 2025

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

 

6 June 2025

 

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

 

Togo Update

 

Keras Resources plc (AIM: KRS) is pleased to announce an update on 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.

 

Carrieres Mines Travaux Publics SA ("CMTP"), Nayéga's mining and logistics
contractor, has now completed the dry commissioning of the Nayéga processing
plant and has mobilised its mining fleet to the Nayéga mine site with the aim
of starting mining activities by the end of June 2025 and is expected to be
processing ore at an initial rate of 4,000 tonnes of saleable manganese for
the first 3 months starting July 2025 and thereafter at nameplate capacity of
8,000 tonnes per month of saleable ore.

 

Keras signed a Cooperation Agreement in 2023 with the State whereby it will be
paid an advisory fee of 1.5% of gross revenue generated from the Nayéga mine
for the provision of advisory services for 3 years and 6.0% of gross revenue
generated from the Nayéga mine for the provision of brokerage services for
the lesser of 3.5 years or 900,000 tonnes of beneficiated manganese ore
produced and sold from Nayéga

 

Russell Lamming, Interim Executive Chairman of Keras, commented, "The
mobilisation of CMTP to site and the imminent production at Nayéga is very
good news.  The cashflow due under the Cooperation Agreement will underpin
the progress and associated cashflows from the US operations.  I look forward
to updating shareholders in the near term."

 

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.

 

The Company is focused on continuing to build market share through its
traditional milled dry rock products as well as its joint venture with Phosul
LLC in the fast-growing US organic fertiliser market and build Falcon Isle
Resources into the premier organic phosphate producer in the US.

 

 

 

 

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