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Mining Weekly reported that Circum Minerals Ltd. will likely complete the definitive feasibility study (DFS) for its Ethiopia-based Danakil potash project midway through 2015.
Mining Weekly reported that Circum Minerals Ltd. will likely complete the definitive feasibility study (DFS) for its Ethiopia-based Danakil potash project midway through 2015.
Circum is a private company, but Premier Africa Minerals Ltd. (LSE:PREM) holds 2 million shares in it.
As quoted in the market news:
Aim-listed Premier African Minerals CEO George Roach noted on Friday that if the DFS realised Circum’s hopes that the Danakilproject was a ‘potential major, world-class potash project’ under development with robust economics, Premier expected a substantial uplift on the value of its interest in Circum.
Premier held two-million shares in Circum, which had received a further $5-million on an exercise of investor warrants which, at the exercise price of $1.25 a Circum share, valued at $116-million on a fully diluted basis.
Premier’s interest was currently valued at $2.5-million.