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Gold Production in Australia
Keras holds 217m shares (31%) and 525m Performance Shares in Calidus Resources Ltd, an ASX listed company which is exploring and developing a significant gold belt in Western Australia.

The portfolio consists of:

Warrawoona Gold Project, Australia

The project has an established JORC compliant Inferred Resource of 5.8Mt at 2.2 g/t Au for 410,000 oz. This has been defined at two prospect areas: 5.6Mt at 2.08 g/t Au for 374 ,000 oz at the most advanced Klondyke target area and 180,000t at 6.1g/t Au for 36,000 oz at Copenhagen. Crucially both deposits remain open along strike and down dip - at Klondyke only 2km of the prospective 7.5km of strike length has been converted to a mineral resource.

Further upside remains via a number of additional target areas within the Warrawoona project area, which covers a total of just over 250sq km of tenure. Calidus is seeking to rapidly advance Warrawoona by way of a major drilling and exploration programme and initial Scoping Studies, with an initial focus on Klondyke.

Ownership

Keras currently holds 217m shares in Calidus which represents approximately 31% of the Company. Keras also holds a total of 507m Performance Shares in Calidus. On the delineation of 500,000 ozs of Indicated Resource, Keras will be issued 241m of these shares. On the successful completion of a PFS, Keras will be issued the remaining 266m.

More information can be found at www.calidus.com.au

project location

Detailed Map

Project at a glance

  • Scalable JORC compliant resource of 5.8Mt @ 2.08g/t gold for 410,000 ounces
  • Significant upside potential - resource open along strike with multiple targets
  • Initial optimisations show robust open pit mining metrics given the large tonnage, near surface nature of the resource
  • Metallurgical test work to 150m depth shows free milling ore with recoveries of 93% to 96%