Allana Potash Corp. (TSX:AAA, OTCQX:ALLRF) announced recent milestones and project development targets for 2013 at their recent AGM.
As quoted in the press release:
- The Feasibility Study (FS) is scheduled to be completed by the end of January 2013.
- Significant technical de-risking has been accomplished and the mineral resource estimate updated to 1.3 billion tonnes (M+I) @19.3 % KCl. (See Technical Report dated April 30, 2012 completed by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergau.
- Substantial funds were raised (over $20 million) in a difficult market environment in early 2012. The Company continues to have a healthy cash balance of over $40 million (as at October 31, 2012).
Allana’s President and CEO, Farhad Abasov, said:
We are extremely pleased with the accomplishments and progress that Allana Potash has made on all fronts regarding our major potash development project in Ethiopia to date. The hard work and dedication of our fully committed management and technical teams has been a major factor in our rapid progression from exploration to development and eventual production. We look forward to the first half of 2013 as a pivotal period in our evolution into a major potash producer in the region.
In the past year, potash prices dropped to a new low. Could this be the perfect buying opportunity?
Get actionable data and industry insights from experts in the potash market. Click below to get your FREE market report on potash investing.