The Conversation (0)
South Boulder Mines (ASX:STB) has changed its name and ticker symbol to Danakali Ltd. (ASX:DNK). The Company received a new Certificate of Registration from the Australian Securities and Investments Commission. The effective date for the name and ticker change is June 4, 2015.
As quoted in the press release:
Danakali is primarily focussed on developing the Colluli Potash Project in Eritrea, East Africa, in partnership with the Eritrean National Mining Company (ENAMCO). The prefeasibility study for the project was completed in February 2015 and indicates an economically robust project which is underpinned by a substantial resource.
For ASX purposes, the effective date for the Company name and ASX code change will be on Thursday 4 June 2015, at which time the ASX code will change from “STB” to “DNK”.
South Boulder Mines Managing Director, Paul Donaldson, said:
The new company name has significance to what the Colluli Project represents both chemically and geographically. The Danakil region of East Africa is recognised as an emerging potash province, and to date over 10 billion tonnes of potassium bearing salts have been identified. Potassium is an essential plant nutrient and is chemically described by the symbol K, which comes from kalium, the Medieval Latin word for potash. Danakali is therefore a representation of Danakil Potash and is an appropriate company name against which to define ourselves as we make the transition from explorer to developer and subsequently producer.
Click here to read the South Boulder Mines (ASX:STB) press release
Click here to see the South Boulder Mines (ASX:STB) profile.