Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Keras Resources shares advance as it strikes third gold tribute deal

Keras Resources has struck a third gold tribute agreement in Western Australia to bring its potential resource inventory to over 500,000 ounces and advance its aim of becoming a cash flow positive miner.
Keras Resources shares advance as it strikes third gold tribute deal
It has inked a binding profit share agreement with KalNorth Gold Mines Limited (KalNorth) for the Lindsay's project, which includes open pit and underground resources of 215,100 ounces at 1.7g/t of the yellow metal

Keras Resources (LON:KRS) has struck a third gold tribute agreement in Western Australia to bring its potential resource inventory to  over 500,000 ounces and advance its aim of becoming a cash flow positive miner.

Investors welcomed the news and shares were lifted 11.76% in early deals to 0.95p.

It has inked a binding profit share agreement with KalNorth Gold Mines Limited (KalNorth) for the Lindsay's project, which includes open pit and underground resources of 215,100 ounces at 1.7g/t of the yellow metal - 77% of which falls into the higher confidence indicated resource category.

Dave Reeves, the managing director, told investors: "We will now start work on revising the proposal to mine with a view towards commencing open pit production from this area in Q3 2016 to add to planned production from Grants Patch and Wycheproof. 

"I look forward to working closely with KalNorth on this operation in what is mutually beneficial agreement for both companies."

The Lindsay's project lies 65km north north east of Kalgoorlie and about 60km north east  of the Grants Patch Gold Tribute Project, where the company is on track to begin initial mining in the very near term.

There is also significant exploration potential down dip from Parrot Feathers (a potential underground operation), where mineralisation extends up to 200m below the resource base, Keras noted.

Giles_55af4ddca6481.jpg


Register here to be notified of future KRS Company articles
View full KRS profile View Profile

Keras Resources Timeline

Newswire
February 01 2016
Newswire
December 04 2015

Related Articles

galileo resources team at Concordia copper project
May 15 2017
“We consider the drill programme a success and consider our in-house model for Concordia is developing favourably towards a major copper resource”
shutterstock_545176450-(1).jpg
June 23 2017
There is of course a big buzz around lithium these days...
Tinka_drilling_592c3d47d9b15.png
May 29 2017
The Ayawilca zinc zone already has an inferred mineral resource of 18.8 million tonnes at 8.2% zinc equivalent

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use