Keras Resources Strikes Profit Share Deal For Wycheproof Deposit

Tue, 23rd Feb 2016 09:02

LONDON (Alliance News) - Australian gold miner Keras Resources PLC on Tuesday said it has entered into a profit share agreement with Kalgoorlie Mining Associates for the Wycheproof deposit in Western Australia.

The pair will enter into a 50:50 profit share agreement for the project, a high-grade shallow deposit on an existing mining lease. Keras will pay AUD70,000 to secure the agreement.

The company added it is holding further talks in respect to similar gold tribute opportunities in Australia.

Keras shares were up 6.2% to 0.69 pence on Tuesday morning.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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