Mining is expected to kick off next week under the Grants Patch tribute deal, underscoring the firm's new direction and strategy, said AIM firm Keras Resources PLC (LON:KRS).
A first blast has been completed at the Anomaly 22 project in Western Australia, 30km north of Kalgoorlie with a view to obtaining a 10,000 tonne bulk sample to confirm grade and continuity.
Keras reiterated that first revenues in the second quarter of 2016 are firmly on track.
Last November, the group inked a tribute agreement with a subsidiary of Norton Goldfields (ASX:NGF) covering certain defined gold deposits on Norton leases 30 kilometres north of Kalgoorlie. Since then it has signed two further tribute deals.
The mining firm also notified yesterday it had brought in £70,000 via the exercise of 14mln warrants at 0.5p.
Keras shares are today up 1.52% to 0.837p in early deals.