Keras Resources — Namibian Copper Project Advances

(LSE:KRS) Keras Resources announced that Okopa has commenced exploration activities across the Cornerstone licences, which cover 6,214 hectares. Okopa acquired a 51% stake in these licences. The exploration programme targets near-term oxide copper production and will include approximately 14 near-surface diamond drill holes. Independent mineral-sorting testwork is also planned, with results targeted by the end of Q1 2027. The company is building on historical bulk sampling of approximately 15,000 tonnes. Keras Resources has raised £1.8 million to support these activities. The company states that recurring income is sufficient to cover corporate overheads. Three framework agreements have been signed to provide services, beneficiation, and copper supply in support of potential production. These agreements involve related-party counterparties. The company notes that the agreements will be operated on arm’s-length, market-related terms. The exploration and development activities are focused on advancing the Namibian Copper Project. The company is targeting near-term oxide copper production as a key milestone. The planned drilling and testwork are intended to inform future production decisions. The framework agreements are designed to support the transition from exploration to production. The company emphasizes the importance of independent testwork and historical sampling in de-risking the project. The raised funds are expected to facilitate ongoing exploration and corporate activities. The company highlights its strategy of leveraging existing resources and partnerships to advance the project. The agreements with related parties are structured to ensure market-related and arm’s-length operations. The company is aiming to deliver results from the testwork by the end of Q1 2027.