Danakali Ltd begins early works program for Colluli Potash Project with reverse osmosis plant underway
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Danakali Ltd begins early works program for Colluli Potash Project with reverse osmosis plant underway
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Danakali s A$20.3 million placement validates world-class Colluli Potash Project in Eritrea
The company is now well placed to commence the early works program emphasising critical plant and infrastructure in Eritrea to support the full-scale development. Additional proceeds of A$464,400 will be received from Danakali directors, subject to shareholder approval.
Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) (FRA:SO3) has completed a A$20.3 million placement to support the early works program at its Colluli Potash Project in Eritrea, East Africa.
Funds have been received from domestic and international, institutional and sophisticated investors and Danakali will also receive another A$464,400 from directors - subject to shareholder approval at Danakali’s Annual General Meeting planned to be held in June 2021.
Danakali in trading halt with capital raising announcement pending
The company is focused on the development of the Colluli Sulphate of Potash Project in Eritrea, a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation (ENAMCO). The halt will remain in place until April 28 or when an announcement is released to the market.
Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) has been granted a trading halt by the ASX with an announcement pending in regard to a proposed capital raising.
The halt will remain in place until the beginning of regular trade on Thursday, April 29, or when an announcement is released to the market, whichever occurs earliest.