Change Capital Partners: Shard Market Eye: Keras Resources

News flow has been encouraging and consistent from Keras Resources (LON:KRS) since the company announced it had raised just over £550,000 before expenses through an unsecured loan note on the 1st February. The money was to provide Keras with the working capital it needed to begin production at the Grants Patch Gold Tribute project in Australia. Since then Keras has announced it has increased its gold inventory and 2016 production profile having entered into a profit share agreement with Kalgoorlie Mining Associates to mine the Wycheproof Gold Deposit in Western Australia (23rd February). Equipment arrived on site in early March; and the company confirmed that they were looking to begin producing gold in the second quarter when announcing their final results on 7th March. More encouraging news flow followed with a third gold tribute agreement announced on 14th March. The agreement was their third Australian gold project announced in as many months. With the gold price improving and with the USD to AUD exchange rate in their favour, it appears the low capital cost and cash flow generation strategy will bear fruit. Shard also notes www.metalbulletin.com which reports on the manganese ore index and notes increasing prices under the headline "Prices soar 50%; low grade hits two-year high". Good news for Keras' Nayega Manganese project in Togo. The plan is to develop Nayega into a 38% manganese export operation within 9 months of receiving a mining license. Focus should and we understand will remain on Australian gold. Producing low cost gold and generating cash appears to be gaining investor attention. The improving manganese price should only serve to increase this attention. The information above is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities, or related financial instruments. It does not constitute a personal recommendation as defined by the Financial Conduct Authority ("FCA") or take into account the particular investment objectives, financial situations or needs of individual investors. The information above is obtained from public information and sources considered reliable. This is a marketing communication document and has not been prepared in accordance with legal requirements designed to promote independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. Although Shard Capital Partners LLP is publishing the research, it is not restricted from dealing in the stock. Please note risk warning section on our website with regards high risk AIM shares. If you are unsure of the suitability of share dealing specifically for you then you should contact an Independent Financial Adviser, authorised by the Financial Conduct Authority