Business
Mining Equipment Arrives on Site
Mining Equipment Arrives on Site.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7399Q Keras Resources PLC 02 March 2016 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n2 March 2016\nKeras Resources plc ('Keras' or 'the Company')\nMining Equipment Arrives on Site\n \nKeras Resources plc, the Australian gold development company, is pleased to announce that the mining fleet for the open pits has now arrived on site at the Grants Patch Gold Tribute Project ('the Project'), located 30km north of Kalgoorlie in the prospective Western Australian goldfields. Pictures of this have been posted to the Companies twitter account: @kerasplc.\n \nManaging Director, Dave Reeves said, \"With the mining fleet now on site, we remain on course to commence first gold production from two shallow laterite gold pits on the Project in the very near term. We estimate these initial areas hold 164,000t at an average grade of 1.4g/t, containing 7,200oz Au, which we expect will provide four to five months of production feed. With no pre-strip required, these low cost deposits are expected to generate material cashflows for the Company, which in line with our strategy will be reinvested into developing other sites on the Project, including the Prince of Wales Underground Mine which has a historic resource estimate of 650,000t at an average grade of 10g/t, containing 209,000oz Au. This is an exciting period for Keras, one which will see us transformed into a cash generative miner and I look forward to providing further updates in due course.\"\n \n**ENDS**\n \nFor further information visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following: \n \n\n\n\n\nDave Reeves\n\n\nKeras Resources plc\n\n\[email protected]\n+44 (0)20 7220 0500\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\n\n\n\nGerry Beaney\n\n\nNorthland Capital Partners Limited\n\n\n+44 (0) 20 7382 1100\n\n\n\n\nBroker \n\n\n\n\nElliot Hance/Jonathon Belliss\n\n\nBeaufort Securities Limited\n\n\n+44(0)20 7382 8415\n\n\n\n\nFinancial PR\n\n\n\n\n\n\n\n\n\n\nElisabeth Cowell/Frank Buhagiar\n\n\nSt Brides Partners Limited\n\n\n+44 (0) 20 7236 1177\n\n\n\n\n \n \nNotes\nKeras Resources plc is an AIM quoted, resource development company. The Company is focussed on advancing lowest quartile, low capex deposits which benefit from proximal established i...