Great Quest Fertilizer Announces Financing and Operating Partner for Mali Project
Great Quest Fertilizer (TSXV:GQ) announced it had entered into a memorandum of understanding with Societe Africaine de Developpement Agricola S.A. to establish a partnership to construct a new Malian company, with Great Quest owning 67 percent of the new company.
Great Quest Fertilizer (TSXV:GQ) announced it had entered into a memorandum of understanding with Societe Africaine de Developpement Agricola S.A. to establish a partnership to construct a new Malian company, with Great Quest owning 67 percent of the new company. A new Malian corporation, named Great Quest NPK, will be formed.
According to the press release, the memorandum of understanding provides for the following:
- Great Quest NPK’s ownership and contribution of capital: 67% from Great Quest Fertilizer and 33% from SADA Group.
- Great Quest NPK will be in the business of beneficiating raw phosphate ore into GQ High Grade (P2O5 35%) and GQ Medium Grade (P2O5 27%), and the manufacturing of complex NPK granules; Great Quest fertilizer will mine the phosphate ore at its Tilemsi project and the ownership of the deposit remains unchanged
- SADA will purchase and sell the beneficiated phosphate and the complex granules, and will import the nitrogen and potash components.
- The Great Quest fertilizer will manage the operation and finances of Great Quest NPK; SADA will be responsible for marketing and sales.
- In addition to SADA’s contribution of 33% to the construction capital, SADA has declared an intention to invest up to $5 million CAD directly into Great Quest Fertilizer Ltd.
- SADA will have exclusive right for the distribution of products in Mali from Great Quest Fertilizer’s planned full-scale production in Mali.
Jed Richardson, president and CEO, said:
SADA, as a strong local partner and with a material financial interest in our production, is an ideal situation for the Company and our shareholders. This initial Malian production facility is intended as a pilot production plant and the agreements for the off-take and local partnership, will strengthen profitability for this first stage of production.
Click here to read the Great Quest Fertilizer Ltd. (TSXV:GQ) press release
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1823.99 | -3.27 | |
Silver | 21.60 | -0.01 | |
Copper | 4.23 | +0.04 | |
Palladium | 2014.01 | +4.01 | |
Platinum | 940.50 | -4.50 | |
Oil | 113.95 | -0.25 | |
Heating Oil | 3.73 | -0.04 | |
Natural Gas | 8.07 | +0.11 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â