SMM5 June 6: recently, Keras Resources plc issued an announcement that the company appointed Graham Stacey as chief operating officer of Keras. Russell Lamming, CEO of Keras, said: "I am pleased to announce this update as a result of six months of hard work by our management team and the Togolese authorities. We spent a lot of time in Togo and the authorities will get an agreement to support Nayega's success over the next decade and provide strong cash flow. In addition to the commercial interests of the Togolese Republic and Keras shareholders the agreement includes a social and labour programme which will provide funding for local communities around mining operations. We hope to begin authorization in the coming months before the rainy season begins.
He said the conclusions of the successful bulk samples confirmed all the technical, financial and logistical assumptions of the in-house feasibility study, and we now look forward to entering commercial production. As part of our journey from explorers to producers, we have appointed Graham Stacey as Chief operating Officer. Graham and I worked together at Chromex Mining, responsible for the construction of the successful Stellite chromium mine in South Africa. I look forward to working with Graham to build the Nayega mine and to continue to develop the Keras manganese mine portfolio.
According to the announcement Keras has continued its 85 per cent stake in the Nayega manganese mine in northern Togo and has made significant progress in the project which currently owns the mineral resources of 13.97Mt 12.4%Mn. As part of Nayega's large-scale sampling metallurgical testing project, the company produces 10000 tons of manganese ore, which is currently being shipped to third-party manganese-based alloy producers. Because the company is focused on starting commercial production, Graham Stacey is appointed chief operating officer (non-board of directors). Mr. Stacey, a former project manager at Nayega, is a qualified mining engineer with 20 years of experience in a range of commodities, including underground and open-pit mine design, project implementation, operations management and mineral resources management. He has worked with a number of international mining companies, including Anglo American plc,Venmyn Rand Pty Ltd,Chromex Mining plc and Keaton Energy Holdings Limited. Mr Stacey will be appointed director of all 100 per cent of Keras's subsidiaries, Southern Iron Limited, which holds an 85 per cent stake in Nayega.
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