Keras Resources (KRS) hold a 32% stake in Calidus Resources which should increase to 47% once Calidus publishes its gold project mining feasibility study.
Calidus announced that is has completed a deal on the disposal of non-core conglomerate gold rights over certain tenements at Warrawoona in consideration for 7,000,000 shares in Pacton, with the agreement to be completed within 50 days.
The company has a JORC resource at Warrawoona of 712,000oz JORC gold grading 2.11 g/t. Calidus’ market.
Shares in Keras Resources were up 1.43% to 0.355p a share following the announcement.
Elsewhere, Keras are currently producing a 10,000t bulk sample of manganese ore starting with a small scale mining operation to de-risk before scaling up to a potential 250,000tpa.
The company has a strategic portfolio of development assets across West Africa and Australia, lead by a team with operational experience in advancing assets in both countries.
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