Keras Resources PLC Calidus commences Novo JV and exercise of Option (6226V)
November 06 2017 - 1:00AM
UK Regulatory
TIDMKRS
RNS Number : 6226V
Keras Resources PLC
06 November 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
6 November 2017
Keras Resources plc ('Keras')
Calidus announces commencement of Novo JV,
exercise of Haoma Option and receipt of funds
Keras Resources plc, the AIM listed mineral resource company, is
pleased to provide an update following an announcement published by
Calidus Resources Limited ('Calidus'), in which Keras currently
holds a 217.25m shares, which will increase to 723.75m shares as
and when Calidus meets certain exploration milestones. Calidus has
announced that it has completed its due diligence on the Novo
Tenements that are included in the previously announced binding
Term Sheet (ASX: 20 September 2017) and has notified Novo Resources
Corp. (TSX.V:NVO) that all conditions precedent have been satisfied
or waived and it will proceed with the transaction. In addition,
based on the exceptional drill results that have been recorded
largely on the ground related to the Haoma option, Calidus has
exercised its option to acquire these tenements ensuring 100%
ownership by Calidus of this rapidly expanding gold development
project.
In addition, the Company has announced the full receipt of funds
from the second tranche of the previously announced A$10m placement
which results in Calidus being well funded as it continues to
develop its assets and add intrinsic value at the Warrawoona
Project in the Pilbara of Western Australia.
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
http://www.investi.com.au/api/announcements/cai/cb4c3af7-8d4.pdf
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 dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell/Jamie Spotswood Northland Capital Partners Limited +44 (0) 20 3861 6625
Broker
Damon Heath/Erik Woolgar Shard Capital Partners LLP +44 (0) 20 7186 9952
Tom Curran/Ben Tadd SVS Securities Plc +44 (0) 203 700 0093
This information is provided by RNS
The company news service from the London Stock Exchange
END
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