Business
Funded Bulk Sampling Programme at Nayega Project
Funded Bulk Sampling Programme at Nayega Project.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4031V Keras Resources PLC 23 July 2018 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n23 July 2018\nKeras Resources plc ('Keras' or the 'Company')\nApproval to Commence Funded Bulk Sampling Programme \nat Nayega Manganese Project in Togo \n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to announce that, as a critical step in the Exploitation Permit approval process, it has been granted permission to undertake a bulk sampling metallurgical testwork programme at the Nayega Manganese Project in northern Togo ('Nayega'). This will include the processing of 10,000 tonnes of beneficiated manganese ore ('Mn'), by a major producer of manganese-based alloys, for large scale metallurgical testwork, to assess the suitability of the ore in their Mn smelting facilities. \n \nKey Points\n \n· The testwork, which is estimated to cost US$1.5m, will be fully funded by the end-user. This includes the capital equipment, operating and logistics costs and management fees. Initial funding has been made available with immediate effect to ensure that long-lead capital items and management costs are covered; \n· For the purpose of the exercise, the Company is targeting a beneficiated +10mm -75mm Mn product from a simplified washing, scrubbing and screening operation. This will provide real-time data with respect to the operating costs and logistics of exporting beneficiated manganese to third party end-users; and\n· Keras remains committed to developing its manganese assets in Togo into a producing mine with the opportunity to develop a low-capex, open pit operation, producing beneficiated lump and fines manganese ore operation.\n \nRussell Lamming, Chief Executive Officer of Keras, commented, \"Over the past several months we have been engaged in constructive discussions with the Ministry of Mines and other regulatory bodies in Togo on how to progress the Nayega project into a profitable mine. The approval for a large-scale bulk sample is a significant step forward in those discussions. In parallel with the in-country discussions, we have secured a funding agreement with ...