- Keras Resources has noted that Calidus has announced that the commencement of the Novo joint venture.

Keras currently holds 217.25m of Calidus's shares which will increase to 723.75m shares as and when Calidus meets certain exploration milestones.

Keras said that Calidus had announced that it had completed its due diligence on the Novo tenements and had notified Novo Resources that all conditions precedent had been satisfied or waived and it would proceed with the transaction.

In addition, based on the exceptional drill results that had been recorded largely on the ground related to the Haoma option, Calidus has exercised its option to acquire these tenements ensuring 100% ownership by Calidus of this rapidly expanding gold development project.

At 8:14am: [LON:KRS] Keras Plc share price was +0.01p at 0.38p

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