Keras Resources PLC Calidus Resources Update (1038J)
August 15 2019 - 2:00AM
UK Regulatory
TIDMKRS
RNS Number : 1038J
Keras Resources PLC
15 August 2019
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
15 August 2019
Keras Resources plc ('Keras' or the 'Company')
Calidus Resources Update
Keras Resources plc, the AIM listed mineral resource company,
notes the announcement published today by Calidus Resources Limited
(ASX:CAI) ('Calidus'), in which it currently holds a c.38.9%
interest, regarding Calidus' recently completed AUD$9 million
placement involving institutional shareholders. Keras did not
participate in the placement. Following the allotment and
commencement of trading of the new shares in Calidus on or around
20 August 2019, Keras will hold a c.33.8% interest in Calidus.
Highlights
-- Calidus successfully completes a AUD$9M placement to institutional investors
-- Strong support from new and existing institutional investors
for the continued advancement of Calidus' flagship Warrawoona Gold
Project
-- Existing Calidus shareholder Alkane Resources (ASX: ALK)
subscribed for shares worth AUD$1.2M, representing a strong
endorsement of Calidus' strategy
-- Calidus now fully funded to undertake an extensive resource
and exploration drilling campaign, complete a definitive
feasibility study ('DFS') and purchase long lead items for project
development
Russel Lamming, CEO of Keras Resources, commented, "This
placement is a key milestone achieved for Calidus in the
development of the Warrawoona Gold Project, as it means that it is
now fully funded to complete the work required to deliver a robust
DFS. Following the commencement of trading in the issued shares in
this placement, Keras will have clear visibility of the capital
structure in which to execute its proposed distribution of shares
to its own shareholders. We are looking to complete this
distribution this year and believe that it will be an exciting time
for our shareholders to gain direct exposure to Calidus."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 21 March 2019. To
view a full version of the Calidus announcement, which includes
figures and maps, please click here:
https://www.calidus.com.au/investors/asx-announcements/. For more
information on Calidus and Warrawoona, please visit
www.calidus.com.au.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of Russell Lamming, Chief Executive Officer. This
announcement contains inside information for the purposes of
Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.kerasplc.com, follow us
on Twitter @kerasplc or contact the following:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Isabel de Salis / Cosima +44 (0) 20 7236
Akerman St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
a portfolio of development assets, including manganese, cobalt and
nickel in Togo, West Africa. It also has a significant interest in
Calidus Resources Limited ('Calidus'), a highly prospective gold
exploration and development company in Australia, which completed a
Pre-Feasibility Study at its Warrawoona gold project in July 2019.
Keras benefits from a highly skilled management team, which has
extensive operational experience in Africa and Australia and proven
success in advancing assets up the value curve.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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