Danakali Announce Update on Non-binding Off-take MOUs Signed for Second Potash Product: SOP-M

Further to the announcement dated 20 July 2016 concerning non-binding offtake MOUs for sulphate of potash magnesia (SOPM), Danakali Ltd. (ASX:DNK; OTC:DNKLY) advises that the counter- parties to these non-binding MoU’s are Tabarak Fertiliser, Delta Company for Fertilisers and Chemicals, and Helm.
Tabarak Fertilizer is an Independent Trust Company (S.A.E.) specializing in fertilizers, phosphate, sulphur and raw materials, based in Alexandria, Egypt.
Delta Company for Fertilisers and Chemicals is a joint stock company and producer of fertilizer, based in Cairo, Egypt.
Helm AG, is a family owned business that specialises amongst others in the marketing and distribution of fertilizers, based in Hamburg Germany.
The MOU’s represent a willingness to progress to commercial agreements, and as such, pricing and other commercial terms are yet to be reached. Further announcements will be made when final agreements have been made.
In addition to the above, the Company referred to the production capacity of the first module of the Colluli project of 425ktpa, which was based on the DFS results released in November 2015. The company is not aware of new information that materially affects the information which has been released previously.
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