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Pin to quick picksKeras Res Share News (KRS)

Share Price Information for Keras Res (KRS)

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Share Price: 2.70
Bid: 2.60
Ask: 2.80
Change: 0.00 (0.00%)
Spread: 0.20 (7.692%)
Open: 2.95
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Keras Resources Says Processing Plant On Site At Diamond Creek Mine

Fri, 12th Feb 2021 09:34

(Alliance News) - Keras Resources PLC on Friday said the processing plant shipped from Shangahi, China in the fourth quarter of 2020 is now on site at the Diamond Creek phosphate mine in Utah, US, with construction underway.

The Diamond Creek mine is owned by the London-based mineral resource company's 51% subsidiary Falcon Isle Holdings LLC.

Shares in Keras Resources were up 7.0% at 0.12 pence in London on Friday.

Keras Resources said the new plant has the design capacity to process its targeted 48,000 ton per year production rate in 2024. It will increase both the installed capacity and flexibility to beneficiate a variety of organic phosphate products, and will also see a significant reduction in operating costs as the company moves away from the current toll agreements, it added.

The company said commissioning remains on schedule, and the plant is expected to be operational by the end of the first quarter of 2021.

"Our expansion at Diamond Creek continues to progress as planned and the commissioning of the new crushing, milling and bagging facility, which will be capable of supporting our peak production rate of 48,000 tons per year, is a key component underpinning this strategy. We have a long life-of mine at Diamond Creek, with the opencast resources alone representing in excess of 60 years at the peak production rate, highlighting the long-term sustainable cash flow we anticipate being generated from this mine. We look forward to delivering further news regarding the commissioning of the processing plant and our 2021 production schedule in due course," said Chief Executive Russell Lamming.

Keras Resources completed its 2020 Diamond Creek campaign back in October, with 7,620 run-of-mine tonnes extracted including the bulk sample. This was over 50% more than what was initially planned for the first year of production, it said.

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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23 Feb 2024 11:22

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22 Jan 2024 10:57

Keras subsidiary signs JV with Phosul for Utah granulator plant

(Alliance News) - Keras Resources PLC on Monday announced its wholly owned subsidiary, Falcon Isle Resources Corp, has signed a five year 50:50 joint venture deal with Phosul LLC.

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6 Jul 2023 17:19

IN BRIEF: Keras Resources restored to trading on AIM

Keras Resources PLC - Surrey, England-based mine developer focused on West Africa and the US - Says its shares have been restored to trading on AIM following the publication of its annual report for 2022.

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6 Jul 2023 12:19

Keras loss narrows and revenue jumps; phosphate production declines

(Alliance News) - Keras Resources PLC on Thursday said annual revenue more than doubled, despite a decline in phosphate mined at Diamond Creek.

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4 Jul 2023 17:07

REPEAT: Keras Resources confirms Togo payment, Falcon Isle updates

Keras Resources PLC - mine developer focused on West Africa and the US - Confirms receipt of USD1.7 million cash consideration from the Republic of Togo, after dropping the Nayega manganese project in Togo to focus on targeting the organic fertiliser market in North America in mid-May.

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4 Jul 2023 17:07

IN BRIEF: Kera Resources confirms Togo payment, Falcon Isle updates

Keras Resources PLC - mine developer focused on West Africa and the US - Confirms receipt of USD1.7 million cash consideration from the Republic of Togo, after dropping the Nayega manganese project in Togo to focus on targeting the organic fertiliser market in North America in mid-May.

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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18 May 2023 12:04

Keras to fully focus on US assets after dropping Togo project

(Alliance News) - Keras Resources PLC on Thursday said it dropped the Nayega Manganese project in Togo to focus on targeting the organic fertiliser market in North America.

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20 Oct 2022 17:23

TRADING UPDATES: Amaroq raises GBP30 million in placing

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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28 Sep 2022 16:25

Keras makes 'substantial progress' at Diamond Creek

(Sharecast News) - Keras Resources reported "substantial progress" in its first half on Wednesday, towards building its business into a cash-generative producer of high-grade premium organic fertiliser in the North American market.

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28 Sep 2022 14:38

EARNINGS UPDATES: Kefi tips bright outlook; Keras bets on Togo license

(Alliance News) - The following is a round-up of earnings reports by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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7 Sep 2022 13:45

IN BRIEF: Keras Resources expands mining campaign at Diamond Creek

Keras Resources PLC - mine developer focused on West Africa and the US - Extends its summer mining campaign at Diamond Creek organic phosphate mine, located in Utah, to satisfy increased demand over the winter season. Says increased demand indicates an increase of about 40% in expected monthly sales to 700 tonnes. As a result, Keras is extending mining operations to produce an additional 2,500 tonnes of run of mine ore for "downstream milling to supplement ore already in stock".

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1 Sep 2022 21:23

IN BRIEF: Keras Resources appoints former CEO Lamming as chair

Keras Resources PLC - mine developer focused on West Africa and the US - Appoints Russell Lamming as chair with immediate effect, replacing Brian Moritz. Moritz will remain at Keras as company secretary and non-executive director.

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4 Aug 2022 18:28

IN BRIEF: Keras Resources continues Diamond Creek mining campaign

Keras Resources PLC - mine developer focused on West Africa and the US - Mining campaign for 2022 at the Diamond Creek phosphate mine in Utah, US is underway, and will run through to early October. Processing of stockpiled material is ongoing, with crushed run-of-mine being milled to produce 10 mesh and 50 mesh products.

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