Keras Resources to Buy Majority Stake in Namibia's Cornerstone Mining

04:29 AM EDT, 09/14/2026 (MT Newswires) -- Keras Resources (KRS.L) said Monday it conditionally agreed to acquire an initial 51% stake in Namibia-based Cornerstone Mining from Swatech Mineral Processors for up to 1.2 million pounds sterling. The mineral resource company will pay $1 million in cash, with $500,000 paid on signing and another $500,000 due at completion. Swatech will also receive 18 million Keras shares, while up to 46 million additional shares may be issued if certain production and mineral-resource milestones are met. Keras will also provide Cornerstone with a development loan facility of up to $2 million for approved project development over 24 months. Keras has an option to acquire a further 19% stake in Cornerstone for $1 million, which would increase its ownership to 70%.