Change of Name

RNS Number : 8618I

Ferrex PLC

11 December 2015

 

Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining

11 December 2015

Ferrex Plc

Change of Name

The directors of Ferrex Plc ('the Company'), the AIM quoted resource development company, are pleased to announce that the Company has changed its name to Keras Resources Plc.

The existing ordinary shares of 0.1p each admitted to trading on AIM will be renamed to Keras Resources Plc with stock code KRS with effect from Monday 14 December 2015.

**ENDS**

For further information visit www.ferrexplc.com or contact the following: 

Dave Reeves	Keras Resources Plc	[e-mail] [phone]
Nominated Adviser
William Vandyk/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss	Beaufort Securities Limited	[phone]
Financial PR
Felicity Winkles/ Elisabeth Cowell	St Brides Partners Limited	[phone]

Notes

Keras Resources Plc ("Keras") is an AIM quoted, resource development company.  Keras is focussed on advancing lowest quartile, low capex deposits which benefit from proximal established infrastructure up the development curve and into production.  Keras plans to commence production at its Australian Gold Project in Q2 2016 and then use this cashflow to develop the Nayega Manganese Project within nine months of securing the mining permit for the Project.  

At Nayega, Keras has concluded a Bankable Feasibility Study and expects award of the mining permit in the near future.  The Bankable Feasibility Study indicates that Nayega could produce 250,000 tonnes per year of manganese concentrate at 38%.   On grant of the mining permit Keras will focus on bringing the mine into production as soon as possible.  

Keras also holds iron ore and manganese projects in Gabon and South Africa and is actively assessing ways to realise value from these assets.

Keras has 1,193,794,390 ordinary shares of 0.1p each in issue. The Directors have subscribed for and purchased approximately 25.5% of the issued share capital of Keras and are thus aligned with shareholders' interests.

 

END

 

 

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