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21 Oct 2019 | 14:15

Keras Resources unit gets Togo government nod for Nayega manganese project

Keras Resources said 85%-owned subsidiary Societe Generale de Mines had received a green light to undertake large-scale mining at the Nayega manganese project in northern Togo.

The subsidiary received a notification of the decree from a meeting of Togo's Council of Ministers on Friday.

Keras said it anticipated that the all documentation related to the exploitation permit would be signed by Societe Generale de Mines and Keras during the course of the current week

A full announcement of the terms of the permit and the underlying protocols would be made immediately after signature.

'This is great news for the future of Keras, and a major milestone for the company,' chief executive Russell Lamming said.

'Our strategy of proving up the project through the fully funded 10,000-tonne bulk sampling programme has been validated, and the installed processing capacity allows us to commence production of beneficiated 38% manganese ore at a rate of 6,500tpm without investing any further capital.'

At 2:15pm: (LON:KRS) Keras Plc share price was +0.08p at 0.48p

Story provided by StockMarketWire.com
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