Fortunately, Not the RNS I was Expecting on Bad News Friday!4 Apr 2025 07:17
Keras Resources plc ('Keras' or the 'Company')
Corporate Update
Keras Resources plc (AIM: KRS) is pleased to announce an update on the cooperation agreement signed in 2023 with the Republic of Togo ("State")("Cooperation Agreement") related to the Nayéga manganese mine ("Nayéga") in northern Togo.
Société Togolaise de Manganèse (STM), the State's 100% owned investment company has obtained a mining permit to commence the exploitation of Nayéga permitting full-scale mining to commence. In addition, STM have entered into the following agreements: -
· Mining and Logistics Contract with Carrieres Mines Travaux Publics SA ("CMTP");
§ After a tender process under the supervision of the Direction National du Contrôle de la Commande Publique ("DNCCP"), STM have awarded the mining and logistics contract for the Nayéga mine to CMTP who will manage the mining and processing operations at Nayéga and manage the logistics of the upgraded manganese ore to Lomé port; and
§ CMTP operate several mining and quarrying operations in Togo and operate a significant fleet of trucks in West Africa, they were the primary contractor on the Nayéga bulk sample in 2018.
· Manganese Sale/Purchase Agreement ("Offtake") with Fujax Group Limited ("Fujax")
etc
GLA