Keras Resources (LON:KRS) – CORP: Wycheproof toll agreement concluded
Market Cap: £9m; Current Price: 0.7p
Mining to be complete by end of September
Keras Resources has concluded a toll milling agreement with Golden Mile Mining to treat ore from the Wycheproof Gold Project, located 50km northeast of Kalgoorlie, at the Lakewood Mill, located on the outskirts of Kalgoorlie.
The Wycheproof pit has now been mined to a depth of 8m below the surface and extends for a further 12m. Keras expects to complete mining by the end of September.
Ore will be processed in two batches, with first haulage to commence the week starting 05/09/16. The final batch will be completed in early October.
NORTHLAND CAPITAL PARTNERS VIEW: A positive agreement for Keras Resources that allows the Company to batch process the ore to obtain detailed grade reconciliation and receive rapid payment for the gold produced.
Sunrise Resources (LON:SRES) – SPECULATIVE BUY*: Bay State update
Market Cap: £2.5m; Current Price: 0.225p
From yesterday: Phase two drilling to commence imminently
Drilling to commence at the Bay State Silver Project on the 07/09/16 and is expected to take two weeks with assay results back in six weeks.
Two holes will test the Chihuahua Vein below the 19th and 20th Century workings. An additional hole will test the Lincoln Vein System.
NORTHLAND CAPITAL PARTNERS VIEW: Sunrise Resources three hole drill programme at the Bay State Silver project is designed to follow up on the silver mineralisation defined in the Phase 1 drill programme and determine if a larger resource definition drill programme is justified.