23rd Jul 2018 10:06
LONDON (Alliance News) - Shares in Keras Resources PLC rose early Monday after the company said that it has secured permission to undertake a bulk sampling metallurgical testwork programme at the Nayega manganese project in northern Togo.
Shares in Keras were trading 18% higher at 0.42 pence each.
The mineral resource company said the bulk sampling will include processing of 10,000 tonnes of beneficiated manganese ore, by a major producer of manganese-based alloys, for large scale metallurgical testwork, to assess the suitability of the ore in their manganese smelting facilities.
The test work is estimated to cost USD1.5 million and will be fully funded by the unnamed third-party manganese end-user.
Keras Resources is targeting a 10 millimetre to 75 mm manganese product from a simplified washing, scrubbing and screening operation. This will provide real-time data with respect to the operating costs and logistics of exporting beneficiated manganese to third party end-users, the company said.
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