Business
Cobalt and Nickel Licences Awarded
Cobalt and Nickel Licences Awarded.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0676F Keras Resources PLC 15 May 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n15 May 2017\nKeras Resources plc (\"Keras\" or \"the Company\")\nCobalt and Nickel Licences Awarded\n \nKeras Resources plc is pleased to announce it has been awarded five exploration licences, covering 854.3 square kilometres of ground in Togo that cover previously discovered cobalt and nickel mineralisation. The grant of these licences follows applications made to Ministry of Mines and Energy of Togo as announced on 30 March 2017.\n \nHighlights\n \n· Five exploration licences granted that cover known cobalt and nickel mineralisation;\n· Average rock chips from mineralised zone grade at 0.82% nickel (\"Ni\") and 0.19% cobalt (\"Co\"), with highs of 1.4% Ni and 0.25% Co: \no Equates to a 4.5g/t equivalent gold grade based on current metal prices;\n· Initial exploration work consisting of mapping, sampling, trenching and data compilation of historical data to commence immediately;\n· The licences have an initial term of 3 years, which can be renewed twice for a period of 2 years each; \n· Licences further confirms Keras' commitment to Togo - the Company holds an 85% interest in the Nayega manganese project in northern Togo; and\n· Land expansion underpins strategy to target exposure to the potentially high growth battery market through the development of three complementary commodities: cobalt, nickel and manganese:\no Cobalt often reported as the most critical metal from a supply perspective for the battery industry and prices have increased 100% in the past six months.\n \nKeras Managing Director Dave Reeves said, \"Building upon our established presence in-country and positive relations with the Government of Togo, the granting of these five exploration licences marks a significant step in delivering upon our strategy to build a portfolio of assets that will enable us to target the burgeoning battery market. Whilst lithium has gained much attention during the past 18 months, we believe there is a significant gap in the supply of metals such as cobalt, nickel and manganese, w...