Keras Resources PLC (AIM:KRS) shares rocketed almost 80% higher on Thursday morning after the miner confirmed fertiliser production had kicked off at its jointly owned site in Utah.
Consistent commercial production of phosphate fertiliser PhoSul granules had now been achieved at the processing facility, Keras confirmed in a statement, at five tons per hour.
“We look forward to settling into our new facility, optimising operations and growing our sales,” chief executive Graham Stacey commented.
Keras added time would be spent over the coming months implementing production improvements alongside joint venture partner PhoSul LLC.
Rock phosphate will be sold to the joint venture through Keras’ subsidiary Falcon Isle Resources, the company reiterated, with preparations for summer mining operations already underway.
Shares climbed 78.6% to 5p.