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".
Chief Executive Officer Graham Stacy says: "Demand for our high-grade organic rock phosphate continues to grow encouragingly as evidenced by the significant increase in expected August 2022 sales of 500t to physical deliveries of 700t, largely to distributors in the Central California Valley."
Current stock price: 6.45 pence, up 3.1%
12-month change: 26%
By Xindi Wei; xindiwei@alliancenews.com
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Keras Res (KRS)