Keras Resources plc is focused on building a portfolio of strategic resource assets, providing investors with exposure a number of high quality development assets and high demand commodities, including manganese, cobalt and nickel in Togo, West Africa. The Company also has a significant interest in a highly prospective gold exploration and development portfolio in Australia.
Keras benefits from a highly skilled management team, which has extensive operational experience in Africa and Australia with proven success in advancing assets up the value curve.
Keras has an interest in Calidus Resources Ltd (CAI:ASX), an ASX company established to accelerate development of the Warrawoona Gold Project, which is located in the Pilbara region of Western Australia. The project hosts a number of highly prospective target areas with proven mineralisation and has an existing resource of 21.3Mt @ 1.83g/t Au for 1.25 million ounces including a higher-grade component of 14.6Mt @ 2.37 g/t for 1.1 million ounces from surface with significant exploration upside potential.
The Nayega Manganese Project in Togo is a low capex manganese project, which will generate cash flow for the Company within nine months of receipt of the Exploitation Permit. Nayega, in northern Togo, is 30km away from a main road which has in excess of 500,000t per annum back loading capacity and direct access to the regionally important deepwater port of Lome 600km away. The project has a JORC Code Compliant Measured and Indicated Mineral Resource of 13.97Mt @12.4% manganese (“Mn”) and an internal feasibility study indicated low capital costs associated with establishing a 250,000 tonne per annum mining operation at 38% Mn with operating costs of approximately US$2/dry metric tonne unit FOB (free on board).The study highlights the robust economics associated with bringing the project into production. The full results will be delivered on receipt of the Exploitation Licence, which is under application.
3 Cobalt & Nickel:
Keras was awarded five exploration licences in May 2017 covering known cobalt and nickel mineralisation at the Kamina Project in Togo. Whilst the licences are at an early stage of exploration, average rock chips from the mineralised zone grade at 0.82% nickel (“Ni”) and 0.19% cobalt (“Co”), with highs of 1.4% Ni and 0.25% Co. These licences provide exposure to the high growth battery market, with cobalt often reported as the most critical metal from a supply perspective for the industry.