Keras Resources PLC - Surrey, England-based mine developer focused on West Africa and the US - Says construction of an integrated milling plant at its newly acquired property in Delta, Utah is on schedule. Says commissioning is expected during the second half of May with production ramp-up through the third quarter 2024. The plant, which is being built as part of Keras' joint venture with Phosul LLC, will have a Phosul production capacity of 520 tonnes per month and 920tpm when operating on single shift and double shift respectively. Chief Executive Officer Graham Stacey says: "The acquisition of the Delta facility and the Phosul JV will be transformative for the company. The site will not only house the processing equipment for all products, including the new Phosul granulate, but also allows all run-of-mine crushed feed material and final products to be stored under cover. The associated reduction in moisture content reduces the cost of processing and provides a better quality product for our ever growing customer base." Phosul is a plant-available phosphate fertilizer.
Current stock price: 2.03 pence, up 23% on Monday afternoon in London
12-month change: down 60%
By Sabrina Penty, Alliance News reporter
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Keras Res (KRS)