Keras Resources Plc is AIM’s only Australian gold mining company. The Company is focused on bringing low capex deposits, which benefit from proximal established infrastructure, into production to facilitate the development of larger opportunities with minimal dilution. Keras has a gold resource tribute inventory of over 500,000 ounces across three tribute agreements in the proven gold region of Kalgoorlie, Australia. Mining has commenced at the Grants Patch Gold Tribute with ore being processed at the nearby Paddington processing plant. Keras is focused on targeting production of 20-30,000 ounces for year one and increasing that to 40,000 ounces per annum from year two onwards. Cash flow generated from these activities will be recycled into the business to develop additional production, strengthen its balance sheet and acquire larger assets. The Company is also developing the Nayega Manganese Project in northern Togo into a low cost export mining operation.
Umbono owns a controlling interest in the Waterberg Coal Project located in the Waterberg Coalfield in north-eastern South Africa, near the town of Lephalale. The project is within 4.5km from rail infrastructure and within 2km of Eskom’s Matimba Power Station and within 7km of the under-construction Medupi Power Station. Exxaro’s Grootegeluk Coal Mine, the largest open-cast coal mine in South Africa, is located 10km west of the project area.
The Project covers a total of 2,028 Ha over two farms (Eendracht and Groothoek). Venmyn Deloitte issued a SAMREC compliant resource statement confirming an 800 million ton in situ resource. RSV Enco subsequently completed a conceptual study on mine development. Work to date points to the deposit containing significant potential volumes of both thermal and metallurgical (PCI) coal products.
In total, including historical drilling performed by the previous owners Iscor Coal (now Exxaro), some 87 drill holes covering approximately 10,000 meters of drilling have been completed on the project.