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Danakali Ltd. (ASX:DNK; OTC:DNKLY) is pleased to provide this quarterly update on its Colluli Potash Project (“Colluli” or “the Project”), located in Eritrea, East Africa.
Danakali Ltd. (ASX:DNK; OTC:DNKLY) is pleased to provide this quarterly update on its Colluli Potash Project (“Colluli” or “the Project”), located in Eritrea, East Africa.
HIGHLIGHTS
CONTINUED SUCCESSFUL ADVANCEMENT OF THE WORLD CLASS COLLULI POTASH PROJECT
- Colluli is the most fundable and economically attractive advanced stage greenfield sulphate of potash development in the world
- Mining license approvals progressing positively towards completion
- Successful $6.7m private placement to JP Morgan (UK)
- 85 million tonne Kieserite resource defined
- MOU’s signed for 200kt per annum of SOPM
- Completed final round of post Definitive Feasibility Study (DFS) stakeholder engagements
- Completed Social and Environmental Impact Assessment (SEIA) engagements
- Completed Expressions of Interest (EoI) process for engineering, procurement and construction (EPC) contract for Colluli Project
- Completed successful Colluli site visits by shortlisted EPC companies
PLANNED FOR DECEMBER QUARTER
- Continued engagement with relevant ministries on the advancement and award of the mining license
- Continuation of off-take and financing discussions
- Advancement of pre-construction activities
CORPORATE
- Strong cash position of A$10.6m at quarter end
- Progressed off-take and project funding discussions
- Appointment of Head of Marketing
Read the full report.
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