Following the completion of a convertible debenture funding the Company is now able to pursue a course of action that should result in the permitting and financing of our flagship Tilemsi phosphate project. The company intends to:
It has been approximately five years since the Northern Mali conflict started and two years since the signing of the ceasefire. The company celebrates both the progress made by the people and government of Mali and the progress achieved on the project during this period. A difficult geopolitical landscape combined with limited working capital have led to some delays and reorientation of our operations. According to the Preliminary Economic Assessment (PEA) filed on 1 May, 2015, Phases I and II of the Tilemsi project have Net Present Values of US$14.02 million and US$358.8 million respectively (DCF of 12%).
Readers are cautioned that a PEA is conceptual in nature and is based on mine plans, process flowsheets and inferred mineral resources, which are considered to be highly speculative geologically. There is no certainty that a PEA will be realised. Stakeholders are reminded that the company already has an off-take agreement in place for Phase I production (see press release 22 September, 2014). This agreement was secured on the strength of a twelve-month period of agricultural demonstrations. The success of the demonstrations has continued, with the market demand for the product increasing after three years of positive results. The products agronomic success has been featured in local Malian news and regional West African news. As certain risks and perceptions of risks related to the project are addressed, increased shareholders’ confidence should begin to reflect in the valuation of this unique opportunity.
Read the article online at: https://www.worldfertilizer.com/phosphates/23012017/great-quest-shares-outlook-for-2017/
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The companies have signed a non-binding MOU to explore potential business partnerships related to production and decarbonisation of local fertilizer and industrial products.