Togo is Up, Running, and Paying Out26 Sep 2025 07:14
We own shares in the most financially opaic of companies. But hopefully some significant money has started to flow in:
Keras Resources plc (AIM: KRS) is pleased to announce an update on the cooperation agreement signed with the Republic of Togo ("State") ("Cooperation Agreement") related to the Nayéga manganese mine ("Nayéga") in northern Togo.
Nayéga starting mining activities at the end of July 2025 and is meeting expectations of processing ore at an initial rate of 4,000 tonnes per month of saleable manganese for the first 3 months and thereafter at nameplate capacity of 8,000 tonnes per month of saleable ore. The Company has now received its first payment as per the cooperation agreement signed in 2023 post the shipment of the initial 2,700 tonnes of ore in containers on 5 September 2025.
Russell Lamming, Interim Executive Chairman of Keras, commented, "The first payment under the Cooperation Agreement is a significant milestone for both the Company and Nayéga and we now look forward to the continued increase in production with cashflows that will underpin the cashflows from the US operations. I look forward to updating shareholders in the near term on progress on both fronts."
GLA