Keras Resources PLC Calidus appoints Mark Connelly as Chairman (3599F)

TIDMKRS

RNS Number : 3599F

Keras Resources PLC

20 February 2018

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

20 February 2018

Keras Resources plc ('Keras')

Calidus appoints Mark Connelly as Chairman

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'). Calidus has announced the appointment of experienced mining executive Mark Connelly to the Board as an independent, Non-Executive Chairman. Mark has extensive board and leadership experience in companies across a variety of commodities and jurisdictions including Australia, West Africa, North America and Europe.

Mark was previously Managing Director of Papillion Resources and was instrumental in the US$570m takeover of Papillion by B2Gold Corp in October 2014. Prior to Papillon, Mark was Chief Operating Officer of Endeavour Mining Corporation, following its merger with Adamus Resources Limited where he was Managing Director and CEO. Mark was instrumental in not only the merger, but procurement of project finance and the development of the Nzema Mine in Ghana into a +100Koz pa mining operation.

Mark is currently Non-Executive Chairman at West African Resources Ltd. and Non-Executive Director at Ausdrill Ltd and Tiger Resources Ltd.

Mark is a Member at Australian Institute of Co. Directors, (MAICD) a Member of the Australian Institute of Management, (AIMM) and a Member of the Society of Mining, Metallurgy and Exploration (SME).

Calidus' current Chairman, Mr Keith Coughlan, will continue as Non-Executive Director on the Board.

Dave Reeves said, "I am delighted with the appointment of Mark Connelly to the Calidus Board of Directors as Chairman. Mark has an outstanding reputation in the market and an enviable track record of creating significant value for shareholders. Mark's appointment to the Board has significantly bolstered the corporate and industry experience in Calidus as it continues the expansion and development of its flagship Warrawoona gold project."

To view a full version of the Calidus announcement, which includes figures and maps, please click here:

https://www.investi.com.au/api/announcements/cai/6136d459-16e.pdf

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

Keras currently holds a 458.375m shares in Calidus, which will increase to 723.75m shares as and when Calidus issues a successful PFS at Warrawoona. It is the intention of Keras to in-specie distribute these shares to Keras shareholders at the appropriate time when this is achieved.

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

 
Dave Reeves                                  Keras Resources plc                  [e-mail] 
Nominated Adviser 
Gerry Beaney/David Hignell/Jamie Spotswood   Northland Capital Partners Limited   [phone] 
 
  Joint Brokers 
Damon Heath/Erik Woolgar                     Shard Capital Partners LLP           [phone] 
Tom Curran/Ben Tadd                          SVS Securities Plc                   [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 20, 2018 02:01 ET (07:01 GMT)