16th Jan 2019 09:36
LONDON (Alliance News) - Keras Resources PLC shares on Wednesday rose after the company reported high grade results from its Nayega Manganese project, in Togo, which exceeded expectations.
Keras shares were trading up 8.7% at 0.38 pence each.
Keras said that samples taken from stockpiles for its sampling metallurgical testwork programme at the Nayega have returned average Manganese grades of 41.15%, "substantially in excess of budget".
Among the highlights, the firm said grades ranged between 39.61% and 42.76%, with the average 18% higher that the budgeted grade of 35%.
"The initial assay results from the bulk sampling testwork programme at Nayega have exceeded our expectations," Chief Executive Officer Russell Lamming said.
He added: "With the current installed plant capacity, Nayega will be able to produce circa 6,500 tonnes per month of manganese ore without any further capital investment."
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