Keras Resources pressing ahead with Nayega sampling programme

The AIM-traded firm said it appointed Graham Stacey as project manager, Carriere Mines Travaux Public as the turn-key mining and logistics contractor, and had awarded the bulk sampling plant contract to Appropriate Process Technologies.

Furthermore, equipment had been mobilised to commence the bulk sampling on 27 August.

“The bulk sampling exercise is progressing well and the appointments of Graham, CMTP and APT are critical to the success of the operation,” said Keras Mining chief executive officer Russell Lamming.

“Graham and I developed Chromex's Stellite chrome mine from a greenfield exploration project to a profitable chrome mining and processing operation, following which Chromex was sold to a Ruukki Group affiliate, Synergy Africa, for £37m, so I know first-hand that he has the skill set suited to manage this programme.

“Furthermore, it is clear to see from CMTP and APT's operational experience that they have the requisite knowledge and abilities to help us execute the bulk sampling operation.”

Lamming said Stacey and CMTP had been working closely on the programme scheduling, and had mobilised equipment to begin operations on 27 August.

“Although this is a single bulk sample exercise, Keras has opted to purchase the bespoke scrubber plant rather than outsource to ensure that the optimal grade is achieved during this programme and that we can seamlessly transition to commercial production once approval is granted.

“The scrubber plant has a 10-week lead time resulting in an estimated completion date for the entire bulk sampling programme of mid-January 2019.”

Lamming added that he thought it “important” to reiterate that the entire programme was fully funded by a “major producer” of manganese-based alloys, as the company announced in July, and included a management fee for Keras which would cover overheads and salaries.

“We look forward to providing shareholders with further updates on the bulk sampling work in due course.”