Business
Calidus Resources Update
Calidus Resources Update.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1038J Keras Resources PLC 15 August 2019 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n15 August 2019\nKeras Resources plc ('Keras' or the 'Company')\nCalidus Resources Update\n \nKeras Resources plc, the AIM listed mineral resource company, notes the announcement published today by Calidus Resources Limited (ASX:CAI) ('Calidus'), in which it currently holds a c.38.9% interest, regarding Calidus' recently completed AUD$9 million placement involving institutional shareholders. Keras did not participate in the placement. Following the allotment and commencement of trading of the new shares in Calidus on or around 20 August 2019, Keras will hold a c.33.8% interest in Calidus. \n \nHighlights\n· Calidus successfully completes a AUD$9M placement to institutional investors \n· Strong support from new and existing institutional investors for the continued advancement of Calidus' flagship Warrawoona Gold Project\n· Existing Calidus shareholder Alkane Resources (ASX: ALK) subscribed for shares worth ~AUD$1.2M, representing a strong endorsement of Calidus' strategy\n· Calidus now fully funded to undertake an extensive resource and exploration drilling campaign, complete a definitive feasibility study ('DFS') and purchase long lead items for project development\n \nRussel Lamming, CEO of Keras Resources, commented, \"This placement is a key milestone achieved for Calidus in the development of the Warrawoona Gold Project, as it means that it is now fully funded to complete the work required to deliver a robust DFS. Following the commencement of trading in the issued shares in this placement, Keras will have clear visibility of the capital structure in which to execute its proposed distribution of shares to its own shareholders. We are looking to complete this distribution this year and believe that it will be an exciting time for our shareholders to gain direct exposure to Calidus.\" \n \nThe information in this RNS has been extracted from the ASX announcement made by Calidus Resources Limited on 21 March 2019. To view a full version of the Calidus announcement, which includes figures and maps, please click here: https://www.calidus.com.au/investors/asx-announcements/. For more informatio...