- Keras Resources said Monday non-executive director, Russell Lamming, has been appointed as CEO with immediate effect.

The company said a 'dedicated CEO is now required to focus initially on the conversion of the exploration licence to a mining licence at its Nayega manganese project, which provides near-term production potential of 250,000 tonnes per annum of manganese concentrates.'

Previous Executive Director, Dave Reeves, has become a non-executive Director, allowing him to focus on his role as Managing Director of Calidus Resources Limited in which Keras has a substantial shareholding.

Keras's Chairman, Brian Moritz, said: 'Russell, with his experience with AIM quoted companies and successful track record of developing resource companies, is ideally suited to driving Keras forward, unlocking its potential and realising its intrinsic value.

'The Board would like to thank Dave for his stewardship of the Company since listing in 2011; he guided it through some difficult periods and now with the successful listing of Calidus on the ASX, he can focus on developing the Warrawoona gold project.'

At 9:59am: [LON:KRS] Keras Plc share price was 0p at 0.36p

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