Calidus Resources Commences Trading

RNS Number : 8430I

Keras Resources PLC

22 June 2017

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

22 June 2017

Keras Resources plc ('Keras' or 'the Company')

Calidus Resources Commences Trading

Keras Resources plc, the AIM listed mineral resource company, notes that Calidus Resources Limited ("Calidus") has lodged the following release on the Australian Securities Exchange (ASX), confirming that it has commenced trading on the ASX as of this morning.

http://www.asx.com.au/asxpdf/20170622/pdf/43k373b9c08kv6.pdf

Keras holds 217m shares in Calidus and a further 525m[1] Performance Shares.

Keras Director Dave Reeves said, "We are delighted that Calidus has commenced trading on the ASX.  This marks a major milestone and final step in our plan to list our Australian gold assets on the ASX having recognised that we can best realise value from these assets by placing them in a standalone, Australian based company.  Calidus is solely focussed on the development of the Warrawoona Gold Project and has already commenced drilling having successfully raised A$7,875,000 (£4.5million).  We retain significant upside exposure to these assets through our Performance Shares whilst continuing to advance our African portfolio of assets centred on commodities that are critical to the rapidly growing battery market - namely cobalt, manganese and nickel.  I believe we have successfully positioned our company for growth and look forward to reporting Calidus' progress and providing shareholders with updates on developments across our strategic portfolio."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Dave Reeves	Keras Resources plc	[e-mail]
Nominated Adviser
Gerry Beaney/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss Damon Heath/Erik Woolgar	Beaufort Securities Limited Shard Capital Partners LLP	[phone] [phone]
Tom Curran/Ben Tadd	SVS Securities Plc	[phone]
Financial PR
Susie Geliher/Charlotte Page	St Brides Partners Limited	[phone]

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[1] Keras will pay a fee of 3.5% of the 525m shares as per the Notice of Meeting April 2017

 

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