TIDMKRS

RNS Number : 2370B

Keras Resources PLC

09 June 2021

9 June 2021

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

Commissioning commences at the Diamond Creek processing plant

Keras Resources plc (AIM: KRS) announces that construction of the processing plant at Diamond Creek, the high-grade organic phosphate mine in Utah, USA ('Diamond Creek'), has been completed and commissioning has commenced. Once at steady-state operational capacity, which is expected to be achieved by the end of June, the plant will produce a range of premium organic phosphate products for sale directly into the growing North American organic fertiliser market.

Completing the plant build is a significant step forward in the optimisation, production ramp up and expansion plans for Diamond Creek which is owned by the Company's 51% subsidiary, Falcon Isle Holdings LLC. The plant will ensure efficient beneficiation whilst removing the need for external toll treatment. To see the time-lapse video of the build taking place, please visit the Gallery section of our website, www.kerasplc.com.

Russell Lamming, CEO of Keras Resources, commented, "I am very pleased to see the processing plant build completed and we now look forward to steady-state production post the commissioning period. Diamond Creek is the one of the highest-grade organic phosphate mines in the US and installing this plant will enable us to extract maximum value and sell a range of fully certified, high-quality products into a growing organic fertiliser market. All credit to our team on the ground in Utah who have worked tirelessly to complete the processing plant build under testing conditions during the global pandemic. We look forward to getting this year's mining campaign underway during the second quarter of 2021 and reporting on our progress in due course."

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Russell Lamming, Chief Executive Officer. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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

 
 Russell Lamming                Keras Resources plc           annabel@kerasplc.com 
  Annabel Redford 
 Nominated Adviser & Joint 
  Broker 
  Ewan Leggat / Charlie         SP Angel Corporate Finance    +44 (0) 20 3470 
  Bouverat                       LLP                           0470 
  Joint Broker                   Shard Capital Partners        +44 (0) 207 186 
  Damon Heath / Erik Woolgar     LLP                           9900

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June 09, 2021 02:00 ET (06:00 GMT)

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