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.