Aim-listed Keras Resources has concluded the bulk sample agreement for its flagship Nayega manganese project, in northern Togo, which confirms all the technical, financial and logistical assumptions of Keras’ internal feasibility study.
The agreement, which concludes six months of work by Keras and Togo authorities, will underpin the success of Nayega over the next decade and provide robust cashflows going forward, Keras CEO Russell Lamming said in a statement issued on Monday.
In addition to the commercial benefits to both Togo and Keras shareholders, he highlighted that the agreement includes a social and labour plan, which will provide funding to the local communities surrounding the mining operation.
Authorisation is expected before the upcoming wet season.
As part of the mineral resource company’s progression from explorer to producer, Keras has appointed Graham Stacey as COO to assist in building the Nayega mine and continue to grow the Keras manganese portfolio.
Meanwhile, Keras continues to make notable progress at its 85%-owned Nayega manganese project, which hosts a current Joint Ore Reserves Committee-compliant mineral resource of 13.97-million tonnes at 12.4% manganese.
As part of a bulk sampling metallurgical testwork programme at Nayega, Keras produced 10 000 t of manganese ore, which is now being shipped to a third-party producer of manganese-based alloys.